May 30, 2002 |
The Federal Trade Commission said it approved the sale of ChevronTexaco Corp.'s 33.3% stake in the Discovery Natural Gas system to Duke Energy Field Services, a unit of Duke Energy Corp. The divestiture is related to the conditional acceptance by the FTC of the $39-billion merger that created ChevronTexaco in October. In March, ChevronTexaco said it reached an agreement to sell the stake, which Texaco had owned before the merger, for an undisclosed amount to the Duke Energy unit.
CALIFORNIA | LOCAL
May 1, 2003 |
Kern County prosecutors are suing ChevronTexaco Corp. for allegedly dumping water contaminated with the gasoline additive MTBE into an oil field. The district attorney's office, which filed the lawsuit Tuesday, is seeking $4.7 million in penalties. The lawsuit alleges that the company engaged in unfair business practices when it disposed of more than 4 million gallons of MTBE-tainted water. The water was trucked in from Cambria from November 2000 to April 2002.
August 11, 2001 |
Oil giants Chevron Corp. and Texaco Inc. said their stockholders will vote on its $30-billion merger Oct. 9, and that the companies reached a tentative pact with federal regulators on shedding certain assets to get antitrust clearance.
April 19, 2005 |
Sen. Charles E. Schumer (D-N.Y.) urged the Federal Trade Commission to block ChevronTexaco Corp.'s $16.4-billion purchase of Unocal Corp. and joined nine other senators, including California Democrat Barbara Boxer, in asking the FTC to carefully review the combination. The senators said they were concerned the deal would reduce competition. Spokesmen for San Ramon, Calif.
April 6, 2005 |
A Unocal Corp. stockholder filed suit against the El Segundo-based oil company, alleging that Unocal's agreement to be acquired by ChevronTexaco Corp. was unfair to Unocal's investors. Unocal agreed Monday to be bought for cash and ChevronTexaco stock totaling $16.4 billion, or about $62 a share. Unocal's stock closed at $64.35 on Friday, then fell to $59.60 a share on the New York Stock Exchange after the deal was announced.
December 6, 2003 |
A $3.5-million donation from the Annenberg Foundation will help the Metropolitan Opera continue its Saturday afternoon radio broadcasts for another season, an opera spokesman said. The live broadcasts from Lincoln Center have been financed by ChevronTexaco Corp., but the company said in May that it would stop paying for them at the end of the 2003-04 season. The broadcasts, carried by KUSC-FM (91.5) and 359 other U.S.
CALIFORNIA | LOCAL
October 17, 2003 |
ChevronTexaco Corp. agreed Thursday to spend an estimated $275 million to reduce emissions at two California refineries and three others across the nation. The action settles a federal air pollution lawsuit. State and federal regulators accused the San Ramon-based oil giant, the nation's second-largest oil concern, of emitting more pollution than its permits allowed and modifying refineries without government approval.
March 27, 2005
Somehow I don't think the widespread furor over soaring gas prices will infiltrate the office of ChevronTexaco Corp. Chief Executive David O'Reilly. According to "Chevron CEO's Pay Rises to $9.98 Million" (March 22), ascending oil and fuel prices have "boosted profit" at Chevron, resulting in a 15% salary increase for O'Reilly and a 25% bump in his annual bonus, stock options and other compensation. OK, maybe this doesn't explain why gas is getting prohibitively expensive, but at least we know where a portion of our shrinking pay-at-the-pump dollar is headed.