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CORPORATE -- The US' regulatory Federal Trade Commission will conduct an in-depth review of Phillips' proposed takeover of independent refiner Tosco. Phillips had said that it did not anticipate any problems with the FTC. But disgruntled West Coast refiners have expressed concerns that Phillips will exercise too much control in the regional market for Alaskan crude oil, and could act as a rival refiner instead of just an upstream supplier (PIW Feb.19,p1). The combination of Phillips' Alaskan production and Tosco's West Coast refining system will most likely be the focus of the FTC's review -- as was the case with BP's takeover of Arco just over a year ...

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