June 19, 2004 |
Exxon Mobil Corp., ChevronTexaco Corp. and Valero Energy Corp. confirmed Friday that they had been subpoenaed for records related to a United Nations oil-for-food program in Iraq. The U.S. attorney for the Southern District of New York is investigating alleged improprieties in the program. A spokeswoman for Exxon Mobil said the subpoena covered only documents related to the program and did not accuse the Irving, Texas-based oil giant of wrongdoing.
CALIFORNIA | LOCAL
June 15, 2004 |
In an unusual move, Pentagon officials are promising to cooperate with ChevronTexaco as it studies whether to build a gas terminal at or near Camp Pendleton, overruling the base's commanding general, who strongly opposed the project. High-level Marine and Navy officials said Monday that talks with ChevronTexaco would continue on building a liquefied natural gas terminal on or offshore from the West Coast's largest Marine training base.
May 26, 2004 |
Two Canadian trusts agreed Tuesday to buy 13 oil and natural-gas fields from ChevronTexaco Corp. for $793.6 million to boost reserves and cash flow. Enerplus Resources Fund and Acclaim Energy Trust, both of Calgary, plan to sell fields in western Canada worth about $138 million to an oil and gas producer immediately after the purchase, which is expected by June 30, Enerplus said. Chevron, based in San Ramon, Calif., issued its own statement and said it expected a significant gain on the deal.
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.