FTC Seeks Comment on ConocoPhillips's Petition to Amend Its Propane Supply Agreement with NGL

The Federal Trade Commission is seeking public comment on a petition from ConocoPhillips requesting approval to amend its propane supply agreement with NGL Supply, Inc., pursuant to a 2002 Commission consent order. The FTC order issued to resolve competitive concerns raised by the merger of Conoco Inc. and Phillips Petroleum Company required ConocoPhillips to divest assets relating to the propane business and to supply propane to the acquirer of the propane business. To comply with the order, ConocoPhillips sold the Phillips propane business to NGL. ConocoPhillips is now petitioning the Commission to approve amendments to the propane supply agreement with NGL to ensure that ConocoPhillips has adequate stocks of propane at relevant times of the year, and is able to continue to supply propane to its own customers and to NGL. As detailed in the petition, a public version of which can be found on the FTCs Web site and as a link to this press release, the proposed amendments govern the summer supply of propane to NGL when ConocoPhillipss supplies drop below certain levels. The Commission is accepting public comments on the petition for 30 days, beginning today and continuing through September 8, 2009. All comments will be posted on the Commissions Web site and become part of the public record.