Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Commission declines Shell Fletcher Energy sale

Commission declines to clear Shell to acquire Fletcher Challenge Energy
Media Release 2000/99

The Commerce Commission today declined to clear Shell Exploration Company BV to acquire Fletcher Challenge Energy (FCE).


Commission Chair John Belgrave said that the Commission was concerned about Shell acquiring or strengthening dominance in all three of the relevant markets. The Commission can only give a clearance if it is satisfied that a proposed acquisition would not, or would not be likely to, result in dominance being acquired or strengthened in any market.


The relevant markets are the:


current gas production market

market for gas production after 2009, and

market for production of liquified petroleum gas (LPG).

"In summary, the Commission is not satisfied that Shell would not acquire or strengthen dominance in the three relevant markets, and we cannot give a clearance," Mr Belgrave said.


Further details will be available when public copies of the Commission’s full decision are released early next week.


Media contact: Commerce Act Manager Geoff Thorn

Phone work (04) 498 0958, cellphone 021 661 104


Senior Advisor Communications Vincent Cholewa

Phone work (04) 498 0920


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news