March 21, 1997 |
A group of Unocal 76 service station owners, alleging a conspiracy to control the availability and price of oil and gasoline products, filed a federal antitrust suit Wednesday seeking to block the sale of Unocal Corp.'s retailing and refinery arm in Orange County. Unocal agreed last year to sell its 76 Products Co. subsidiary in Costa Mesa to independent refinery operator Tosco Corp. for nearly $2 billion. The sale is expected to close March 31.
March 11, 1997 |
As many as 550 workers--about half of them in Orange County--will lose their jobs at 76 Products when it is taken over later this month by the company that owns Circle K convenience stores, an executive said Monday. 76 Products President Lawrence Higby said Tosco Corp. will shift his company's headquarters to Phoenix, although several hundred people will likely remain at the state-of-the-art, high-rise office building here. Some of the job losses are voluntary, Higby said.
November 19, 1996 |
76 Products Co., the $4-billion-a-year oil refining and marketing arm of Unocal Corp., has been sold to a Connecticut corporation in a cash and stock deal valued at more than $1.8 billion. The sale to Tosco Corp., which owns a number of refineries and the Circle K chain of 24-hour markets, comes less than a year after 76 Products moved to Orange County from Los Angeles.
August 15, 1996
Unocal's 76 Products Co. said Wednesday it has formed a new company with Cardlock Fuels System to build and operate unattended fueling facilities in the state for commercial fleets. The new company, 76 Cardlock Fuels, LLC, hopes to develop 20 new sites, which would feature both the 76 and Cardlock fuels logos, in the next two years.
June 5, 1996
Unocal Corp. said Tuesday that its 76 Products Co. has signed an agreement that will make it the second-largest gasoline retailer in the Las Vegas area, with the addition of 14 Unocal gas stations. The agreement with Las Vegas-based Rebel Oil Co. calls for nine Rebel Oil retail sites in the Las Vegas metropolitan area to begin operating under the Unocal name. Additionally, five new Unocal sites will be constructed on vacant Rebel Oil property. Details of the agreement were not disclosed.
October 25, 1995 |
Unocal Sets Timetable on Refining Unit: Unocal Corp. hopes to sell its West Coast refining and marketing division, 76 Products Co., spin it off to shareholders or find a partner to help run it by the end of 1998. "We don't know exactly what's going to happen, but something will happen within the next two or three years," Roger Beach, chief executive of the Los Angeles-based company, said.