Exxon Mobil satisfied another condition required by the FederalTrade Commission in its approval of the merger of the two companiesby selling Mobil Alaska Pipeline’s 3% interest in the Trans AlaskaPipeline System to a unit of The Williams Companies, Inc. Terms ofthe sale were not disclosed. ExxonMobil Pipeline will retain its20% interest in the 800-mile pipeline system, which transports onemillion barrels per day of crude oil from Prudhoe Bay on thestate’s North Slope to the Port of Valdez in the south. The stakeadds to Williams’ presence in Alaska, which currently includes apetroleum refinery in North Pole that receives crude oil from theTrans Alaska Pipeline System, a distribution terminal at the Portof Anchorage, 28 retail petroleum convenience stores and aninterest in an air cargo transfer facility at AnchorageInternational Airport.

©Copyright 2000 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.