May 18, 2004 |
XTO Energy Inc. said Monday that it had agreed to purchase natural-gas and oil properties in Texas, New Mexico and five other states from ChevronTexaco Corp. for $1.1 billion -- its largest acquisition. XTO and other U.S. energy companies are seeking to boost output from domestic fields shed by larger rivals after gas prices surged almost 80% in the last two years.
May 1, 2004 |
Surging gasoline prices helped ChevronTexaco Corp. report a 33% increase in first-quarter profit Friday. Chevron, the nation's second-largest oil company, reported a net income of $2.56 billion, or $2.40 a share, up from $1.92 billion, or $1.81, in the first three months of 2003. Sales rose 9% to $33.6 billion. Excluding one-time items and discontinued operations, earnings rose 22% to $2.53 billon, or $2.37 a share, beating Wall Street's consensus forecast of $2.02 a share.
April 25, 2004 |
Two Americans were among at least five people killed when gunmen attacked a boat carrying contractors of U.S. oil giant ChevronTexaco and their military escorts in Nigeria's southern delta region, company and army officials said Saturday. A third American, a ChevronTexaco employee, was in stable condition with a gunshot wound from the Friday afternoon attack on the Benin River near the southern city of Warri, ChevronTexaco spokesman Deji Haastrup said.
March 26, 2004 |
A federal judge has ordered ChevronTexaco Corp. to stand trial for the actions of a subsidiary that allegedly worked closely with Nigerian military personnel who killed villagers protesting the oil giant's operations. The ruling, made public Thursday, is a setback for the second-largest U.S. oil company, one of several multinational corporations being sued in U.S. courts over alleged human rights abuses overseas. Unocal Corp.
March 20, 2004 |
A Louisiana jury has ordered ChevronTexaco Corp. to pay the state about $100 million, including attorney fees, after concluding that the company cheated taxpayers out of oil royalties for more than 10 years. ChevronTexaco, which books more than $100 billion in annual sales, said it would evaluate whether to appeal Thursday's verdict, issued by a state District Court jury in Lafourche Parish. The case stemmed from a dispute over the way the San Ramon, Calif.
March 3, 2004 |
ChevronTexaco Corp. more than quadrupled Chief Executive Dave O'Reilly's bonus last year and increased his salary by 22% as the company's performance improved. The 56-year-old O'Reilly's bonus was increased to $3.15 million from $700,000, and his salary rose to $1.31 million from $1.08 million, the San Ramon, Calif.-based oil producer said in a preliminary proxy statement filed with the Securities and Exchange Commission.
January 31, 2004 |
Riding a gusher of strong oil and natural gas prices, ChevronTexaco Corp. said fourth-quarter profit nearly doubled despite falling production. The nation's second-largest oil company reported net income of $1.7 billion, or $1.63 a share, for the three months ended Dec. 31, up from $904 million, or 85 cents, in the same quarter of 2002. Sales for the quarter rose to $30 billion, a 12.6% increase.
CALIFORNIA | LOCAL
January 17, 2004 |
Chevron has agreed to pay $328,275 to settle a civil lawsuit that alleges the company violated air regulations at its Richmond refinery, the Contra Costa County district attorney's office said. Chevron will pay $278,275 in civil penalties, the district attorney's office announced this week. The remaining $50,000 will go to the Contra Costa County Community Awareness and Emergency Response Group for improvements to a telephone warning system in Richmond, North Richmond and San Pablo.
January 11, 2004 |
About 40 miles southeast of this one-road harbor town, ChevronTexaco Corp. is pioneering a new way to deliver natural gas, the fuel of choice for a growing number of electric plants across the country. The company recently received federal permission to build what would be the world's first deep-water port for importing natural gas. If all goes to plan, starting in 2007 tanker ships will dock at Port Pelican in the Gulf of Mexico to offload up to 1.
December 10, 2003 |
Stepping up its restructuring efforts in North America, ChevronTexaco Corp. said late Monday that it would consolidate some offices in Houston, cut as many as 200 jobs and sell hundreds of additional declining oil and natural gas properties in 15 states and the Gulf of Mexico. The company, based in San Ramon, Calif.