December 13, 2001 |
Royal Dutch/Shell Group and Saudi Refining Inc. agreed to pay $2.26 billion for ChevronTexaco Corp.'s stakes in two refining ventures, making Shell the biggest U.S. fuel retailer in the U.S. ChevronTexaco put the stakes into a trust in October as part of a settlement with U.S. regulators that allowed Chevron Corp. to buy Texaco Inc. and become the No. 2 U.S. oil company. Shell and Saudi Refining will pay $2.26 billion in cash and assume about $1.6 billion in debt, Shell said.
January 8, 2005 |
ChevronTexaco Corp., the second-biggest U.S. oil company, said Friday that fourth-quarter production fell 8.3% more than previously forecast after Hurricane Ivan wrecked platforms and pipelines in the Gulf of Mexico in September. Damage from the mid-September storm reduced oil and natural gas output by the equivalent of 65,000 barrels a day during the quarter, the San Ramon, Calif.-based company said. ChevronTexaco had estimated a 60,000-barrel decline.
July 16, 2003 |
ChevronTexaco Corp. and troubled energy firm Dynegy Inc. announced a restructuring deal Tuesday that would help ease Dynegy's debt woes and allow the oil company to recoup some cash from its investment in the firm. Under the tentative agreement, which was part of a wide-ranging debt restructuring plan unveiled by Dynegy, the Houston-based power and gas company would refinance $1.5 billion in convertible preferred shares held by ChevronTexaco since late 2001. San Ramon, Calif.
July 31, 2002 |
ChevronTexaco Corp. reported Tuesday that second-quarter net income fell 81% because of lower oil and gasoline prices as well as the San Francisco oil giant's soured investment in Dynegy Inc. Net income fell to $407 million, or 39 cents a share, compared with the combined $2.11 billion, or $1.99 a share, that Chevron and Texaco earned in the same quarter last year. Second-quarter revenue fell 13% to $25.2 billion.
April 8, 2005 |
ChevronTexaco Corp.'s $16.4-billion plan to acquire Unocal Corp. includes a $500-million breakup fee if the transaction is canceled. A Securities and Exchange Commission filing by San Ramon, Calif.-based ChevronTexaco disclosed details of the termination fee it would be paid. The deal was announced Monday.
December 15, 2004 |
ChevronTexaco Corp. said it planned to raise capital spending 18% next year, investing heavily in West Africa and the Gulf of Mexico. At its annual meeting with analysts in New York, the San Ramon, Calif.-based company said it would invest $10 billion in its capital and exploratory spending program next year, up $1.5 billion from this year, largely because several big projects were at a stage that required heavy expenditures. ChevronTexaco shares fell 57 cents to $53.