August 28, 2008 |
Houston-based ConocoPhillips became the latest big oil company to get out of the filling station business, agreeing Wednesday to sell its last 600 U.S. gasoline stations to PetroSun Fuel of Seattle. The purchase price wasn't disclosed, but published estimates of $800 million were considered close to the mark. The stations, largely on the West Coast, operate under the Conoco, Phillips 66 and 76 brands. PetroSun, which has been accumulating stations, said it planned major upgrades in product offerings to focus on the more profitable convenience store side of the business.
CALIFORNIA | LOCAL
March 15, 2010 |
The South Coast Air Quality Management District improperly permitted an oil refinery to implement a new industrial process without an environmental review even though the project might have caused substantially more air pollution, the California Supreme Court unanimously decided Monday. The state high court faulted the air quality district for determining that the project by ConocoPhillips Co. in Wilmington would not significantly hurt the environment. The court said the air district applied the wrong base rate when calculating the effect of the emissions.
April 13, 2010
COURTS Broadcom prevails in patent fight A federal appeals court in Washington sided with Irvine-based Broadcom Corp., ruling that the SiRF microchip used in some navigation devices violated Broadcom patents. The decision upheld an infringement finding and import ban issued last year by the U.S. International Trade Commission that barred SiRF and devices containing SiRF chips made by Pharos Science & Applications Inc., Mitac International Corp.'s Mio Technology and E-TEN Corp.
April 17, 2007 |
Oil company ConocoPhillips and meat producer Tyson Foods Inc. plan to work together to produce biodiesel from animal fat, the companies said. Beef, pork and chicken fat from Tyson rendering plants will be processed at ConocoPhillips refineries to create transportation fuel. ConocoPhillips, the third-largest U.S. oil company, said it planned to spend about $100 million over a 3- to 5-year period to prepare several refineries to process the fuel.
January 30, 2003 |
ConocoPhillips, the third-largest U.S. oil company, had a loss of $410 million in the fourth quarter after more than $1 billion in expenses to sell or close hundreds of service stations eroded the benefit of rising prices. ConocoPhillips, which was created by the Aug. 30 merger of Conoco Inc. and Phillips Petroleum Co., had a per-share loss of 60 cents, the company said. That compares with a net income of $162 million, or 42 cents, in the same period of 2001. Revenue rose to $23.
May 16, 2006 |
Berkshire Hathaway Inc., billionaire Warren Buffett's investment company, disclosed stakes in ConocoPhillips, General Electric Co. and United Parcel Service Inc. as part of regulatory filings detailing the company's $45.8-billion stock portfolio. The documents filed with the Securities and Exchange Commission on Monday are the first to mention Berkshire's holdings in ConocoPhillips because Berkshire had sought confidential status for its investment in the company, which was initiated last year.