June 20, 2002 |
ChevronTexaco Corp., the second-biggest U.S. oil company, said it expects an additional $400 million in savings from the merger of Chevron Corp. and Texaco Inc. by April, up 22% from earlier estimates. The San Francisco-based company increased the annual savings target to $2.2 billion and said it expects to meet the previous goal of cutting $1.8 billion in costs by October.
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.
June 3, 2003 |
Bringing some much-needed electrons to California, a Kern County power plant owned by Edison International and ChevronTexaco Corp. began expanded commercial operation Monday, a month ahead of schedule. The Sunrise power plant, which began operating in June 2001 at 325 megawatts, now is capable of generating 570 megawatts, the two companies said. That's enough to serve nearly 500,000 homes. The plant is owned equally by Rosemead-based Edison and San Ramon, Calif.
January 7, 2005 |
ChevronTexaco Corp., the second-largest U.S. oil company, said Thursday that it had received a permit from Mexico to construct a liquefied natural -gas import terminal off the coast of Baja California to capitalize on growing demand for the fuel. The proposed terminal would be able to process 700 million cubic feet of gas a day. It would be located 8 miles offshore from Tijuana -- within reach of gas markets in Mexico and Southern California.
October 31, 2003 |
ChevronTexaco Corp. on Thursday unveiled plans to build a $650-million natural gas terminal off the coast of Tijuana that could boost imports of the fuel to California and the West by the end of 2007. The proposal follows an August announcement by the San Ramon, Calif.
December 10, 2004 |
ChevronTexaco Corp., the second-largest U.S. oil company, named Vice Chairman Peter Robertson to a newly created office of the chairman on Thursday, putting him in place to succeed Chairman and Chief Executive David O'Reilly. O'Reilly and Robertson, both 57, will jointly oversee operations and strategy, the San Ramon, Calif., company said. "They are anointing a successor," said Timothy Ghriskey, who manages $650 million as chief investment officer at New York-based Solaris Investment Management.
March 24, 2003 |
The Nigerian unit of U.S. oil company ChevronTexaco Corp. said Sunday that it had shut all operations in the western Niger Delta because of ethnic fighting in the area. The action followed the San Ramon, Calif.-based company's decision to relocate its workers from the Escravos export terminal and offshore platforms because of ethnic warfare ravaging the area, Chevron said.
September 23, 2003 |
ChevronTexaco Corp., Royal Dutch/Shell Group and rivals are studying pumping natural gas across Australia through a pipeline costing more than $668 million to tap rising demand in the populous eastern states. Two trans-continental routes were being evaluated to ship gas as far as 2,486 miles from fields off northwestern Australia to cities such as Sydney, said Daniel Smith, a Western Australian government spokesman.
August 7, 2004 |
The Bush administration Friday awarded contracts to ChevronTexaco Corp. and Royal Dutch/Shell Group's Shell Oil to replenish the U.S. emergency petroleum reserve, despite record high crude prices and strong oil demand. Oil prices hit record highs Friday, climbing close to $45 before settling back down, after a renewed threat to Russian oil major Yukos added to the strain on world supplies. The price of crude for September delivery ended in New York at $43.
June 18, 2003 |
Exxon Mobil Corp. and ChevronTexaco Corp., the two largest U.S. oil companies, said Tuesday that they would resist moves to force them to disclose dealings with oil-producing countries to counter corruption in emerging markets. Any disclosure agreement must be voluntary and drawn up with the consent of the nations affected, the companies said at a London conference on transparency in the oil and mining industries. Some oil companies have argued for mandatory disclosure rules.