Announced Action for January 14, 2003

Commission approval of application:

The Commission has approved a proposed application from ConocoPhillips concerning the recent merger of Conoco Inc. and Phillips Petroleum Company. Under the terms of the consent order issued to resolve concerns regarding the merger of Conoco and Phillips, ConocoPhillips is required to divest certain assets and enter into certain agreements. Through the application, announced by the Commission on September 24, 2002, the company petitioned the Commission to approve the proposed "Wichita Refined Products Throughput Agreement" (as that term is defined in the order) between Phillips Pipe Line Company and Williams Pipe Line Company, LLC, as well as the related monitor agreement. Through the action announced today, the Commission has approved the agreement and monitor agreement by a vote of 5-0. (FTC File No. 021-0040, Docket No. C-4058; staff contact is Mark Menna, Bureau of Competition, 202-326-2722; see press releases dated August 30, September 20, 2002, and September 24, 2002.)