Announced Action for May 10, 2005

Petition for approval of proposed divestiture: Magellan Midstream Partners, L.P. (Magellan) has filed a petition requesting the Commission’s approval of the proposed divestiture of certain assets recently acquired from Shell Oil Company (Shell). Under the terms of the FTC’s consent order concerning Magellan’s acquisition of certain pipeline and terminal assets from Shell, Magellan is required to divest a gasoline terminal located in Oklahoma City, Oklahoma. Through this application, Magellan is requesting Commission approval to divest the former Shell Oklahoma City Terminal, as that asset is defined in the order, to TransMontaigne, Inc.

The FTC will accept public comments on the proposed divestiture for 30 days, until June 8, 2005, and thereafter will decide whether to approve it. Comments should be sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. (FTC File No. 041-0164, Docket No. C-4122; the staff contact is Elizabeth Piotrowski, Bureau of Competition, 202-326-2623; see press releases dated September 29 and November 26, 2004, and January 24 and March 22, 2005.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.