Brussels, 07/03/2002 (Agence Europe) - The European Commission has authorised the merger between the two American companies, Conoco and Phillips Petroleum, a project that had been notified to it on 5 February. The companies are present in the oil and gas sector and their activities are complementary in several respects. Conoco is mainly active in oil refining while Phillips is active in petrochemicals. The Commission noted that the oil and gas sector is characterised by the presence of three private international companies, namely BP, ExxonMobil and Shell, as well as large public companies that are far more powerful than companies of the size of Conoco and Phillips, whatever elements are taken into considered (stock capitalisation, production, reserves, etc.). The operation, moreover, will not have any adverse competitive effect on the markets affected because of the relatively small market share held by the new entity and the presence of strong competitors.