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

 



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>