Oil-Refining Deals Facing Increased U.S. Antitrust Scrutiny

The U.S. antitrust watchdog is increasing scrutiny of two oil-refinery deals after President Joe Biden called for an investigation into surging gasoline prices.

The Federal Trade Commission has requested additional information from HollyFrontier Corp.and Vertex Energy Inc.on pending refining transactions, according to separate statements from the companies. As a result, the waiting period for each deal has been extended.

HollyFrontier is awaiting regulatory approval for the takeover of Sinclair Oil Corp. while Vertex has an agreement to acquire a Royal Dutch Shell Plc refinery on the Gulf Coast.

READ: FTC’s Retail Gas Station Scrutiny Spotlights Unfair Trade Law ...