May 18, 2005 |
ConocoPhillips, the largest U.S. oil refiner, and Mitsubishi Corp., Japan's biggest trading company, finalized an agreement to jointly develop a terminal in Long Beach to capitalize on growing demand for natural gas imports. The terminal would have yearly capacity to import about 5 million tons of liquefied natural gas, Houston-based ConocoPhillips said. The terminal is expected to be completed in 2009 and cost about $450 million.
CALIFORNIA | LOCAL
April 7, 1993 |
Riding her bike at 6:45 Tuesday morning, Barbara Bradley saw a disaster in the making: A 10-foot-wide swath of black crude oil was snaking down a barranca at Solimar Beach Colony, oozing onto the beach and heading toward the open sea. Bradley, a resident of the gated community a mile north of Ventura, noticed a handful of men by Rincon Parkway and flagged them down.
March 8, 1995 |
The Clinton Administration on Tuesday criticized Conoco's $1-billion oil and gas contract with Iran, while the chairman of the Senate Banking, Housing and Urban Affairs Committee promised hearings on the question of banning commercial transactions between Iran and the United States. White House Press Secretary Mike McCurry reacted to news that a Dutch affiliate of the Houston-based oil concern will develop two Iranian oil fields.
September 29, 1998 |
DuPont Co. will accelerate its exit from the oil business by selling as much as 25% of its Conoco unit to the public by year-end and offering shareholders a tax-free stock swap that will free DuPont of the rest of the oil company. The initial public offering is expected to be among the largest ever, bringing in an estimated $3.6 billion. After the IPO, DuPont, the largest U.S.
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.
August 17, 1998 |
U.S. chemicals giant DuPont Co. on Sunday declined to comment on a British newspaper report that it was negotiating the sale of its Conoco energy unit to Elf Aquitaine, France's largest oil company, for $24 billion. London's Financial Mail quoted unidentified sources saying that Elf was one of several companies to look at Conoco, the sixth-largest U.S. oil company.
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.