The Biden administration is putting the slow-down on several mergers of oil and gas companies as it continues its moves against the industry.
Reuters reports that antitrust regulators extended the approval process for at least five oil and gas mergers and acquisitions over the past three months.
Among the proposed transactions that received second requests in September were HollyFrontier Corp’s $2.6 billion purchase of Sinclair Oil and Vertex Energy Inc’s $140 million sale of motor oil collection and recycling assets to Safety-Kleen Systems Inc, the regulatory filings show. HollyFrontier is the owner and operator of a refinery in Tulsa.
Click here for Reuters.