March 29, 1997 |
Conoco has received final permission from Utah to begin drilling for oil Tuesday on state land in the nation's newest national monument, Grand Staircase-Escalante. The approval last week has prompted environmentalists to lodge protests with Conoco and its parent, DuPont Co. Utah law does not allow a legal challenge to such drilling permits. But members of the Southern Utah Wilderness Alliance said they hope to convince the companies that drilling in the area would be a public relations disaster.
March 17, 1995 |
The Clinton Administration's decision to block Conoco's oil-exploration deal with Iran highlights the inherently conflicting relationship that has developed between the two countries in recent years. Although both governments have been castigating each other as villains and Satans for years, the two countries have been drawn closer in both the diplomatic and economic arenas. While Washington has been restricting imports from Iran and pressuring U.S.
July 20, 1999 |
Among the new stock ratings issued Monday by Wall Street analysts: * Conoco Inc. (COC; close and change: $26.13, down 13 cents) was raised to "buy" from "hold" by CIBC World Markets. * Cummins Engine (CUM; $62.81, up $1.31) was raised to "buy" from "market perform" by MidWest Research, with a 12-month target of $80. * Horace Mann Educators (HMN; $27, up 50 cents) was downgraded to "market perform" from "buy" by Legg Mason Wood Walker.
August 31, 2002 |
Phillips Petroleum Co.'s $25-billion merger with Conoco Inc. to form the largest U.S. oil refiner was approved by U.S. antitrust enforcers after the companies agreed to sell two oil refineries in the West. The company, to be called ConocoPhillips, will be based in Houston and rank behind Exxon Mobil Corp. and ChevronTexaco Corp. as the third-largest U.S. oil company. The merger was approved by the Federal Trade Commission. Conoco shares rose 60 cents to $24.
February 12, 1992 |
An upscale topless nightclub has sued the onetime employer of an engineer who owes it $22,664, contending that the charges were corporate entertainment expenses. The Paradise Club maintained that both the engineer and his former employer, Conoco Inc., are liable for the charges, which included $9,000 in payments to dancers in 1990, because the engineer made them while he was entertaining clients. Conoco fired the man after the charges were rung up in the summer of 1990. It declined to say why.
February 27, 1985
Conoco Inc., a unit of DuPont Co., said it raised its price for West Texas Intermediate crude by $1.55 a barrel to $26.75, effective March 1. The price increase is the first by a major oil company in several months and reverses a long period of price cuts in the industry. Conoco's prices have been the lowest among major firms and even after the increase will be below the industry average.