Topics:  Chevron, Texaco

The Commission has approved an application from Chevron Corporation (Chevron) and Texaco Inc. (Texaco) to divest Texaco's interests in the Enterprise Fractionating Plant to Enterprise Products Operation, L.P., the present majority owner of the plant and its current operator. The divestiture is required by the FTC's decision and order arising from Chevron's acquisition of Texaco. Under the terms of the order, which is available on the FTC's Web site, Chevron and Texaco are required to divest Texaco's interests in the Enterprise Fractionating Plant. Through this approval, the trustee may now sell these interests to Enterprise Products Operation, L.P., as proposed. The Commission vote to approve the application was 4-0, with Chairman Timothy J. Muris recused. (FTC File No. 011-0011; Docket No C-4023; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated September 7, 2001 and December 18, 2001; and January 4 and February 8, 2002.)

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, D.C. 20580. Call toll-free: 1-877-FTC-HELP.