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Two independent Texas oil refiners--Ultramar Diamond Shamrock Corp. and Valero Energy Corp.--are finalists in bidding for an Exxon refinery and gas stations in California that must be unloaded as part of Exxon Corp.'s recent merger with Mobil Corp., the companies said Wednesday. The Federal Trade Commission approved the $80-billion merger in December, but only after requiring record concessions from Exxon Mobil Corp. to boost competition in various markets.
July 26, 1989 | PATRICK LEE, Times Staff Writer
Phillips Petroleum Co. on Tuesday reported improved earnings in the second quarter, due in part to higher crude oil prices, while Chevron Corp. and Mobil Corp. both reported lower earnings. Chevron's earnings dropped 22.3%, in part because last year's numbers included an unusual gain; Mobil's dropped 22.7%, in part because this year's figures included a loss from the sale of assets, and Phillips' rose 15.9%.
January 9, 1987
In response to Mobil Corp's quarter-page, paid advertisement (Dec. 25), "Free Speech Is Under Assault," I would like to expand Jesse Unruh's maxim, "Money is the mother's milk of politics" to include "Money is the mother's milk of political and commercial 'freedom of speech' advertising." What individual citizens as myself must realize is that, although the U.S. Supreme Court ruled in First National Bank of Boston vs. Bellotti (1978) that "corporations were felt to have as much right as individuals to advertise their views on public issues," we as individuals cannot even begin to compete in debate against the well-financed, slick-media political and advertising campaigns of the wealthy corporate giants such as Mobil, et al. As a result, due to severe economic disparities (hence, inequalities)
February 20, 1997 | From Associated Press
A gasoline marketer that helped pave the way for motorists to pay at the pump with a credit card has a new device that should speed visits to its service stations while letting customers leave the card at home. Mobil Corp. plans to introduce in May an electronic gizmo to hook on a key chain that uses radio signals to activate the gas pump and charges the purchase with a single swipe past the pump.
December 27, 1990 | From Reuters
Mobil Corp. is discussing the possibility of a three-way oil exploration and production venture with the Soviet Union in Vietnam, company officials said Wednesday. The project would be Mobil's first exploration and production venture with Moscow, Mobil said. But due to a 15-year trade embargo that the United States has against Vietnam, the discussions remain at a preliminary stage, a Mobil spokesman said.
October 7, 1998 | Reuters
When Lucio Noto, chief executive of Mobil Corp., canceled a series of meetings with investors last Friday, the merger rumor mill started grinding again. Is Mobil about to buy or be bought? Noto's cancellations, which analysts said the company attributed to personal reasons, reminded them of Amoco Corp. Chief Executive Laurence Fuller's cancellation of a meeting just before Amoco announced its merger with British Petroleum in August. Mobil declined to comment on the latest round of market rumors.
September 30, 1999 | Times Wire Services
European Union regulators approved Exxon Corp.'s $82-billion purchase of Mobil Corp. after securing antitrust concessions in the deal to create the world's largest oil company. The EU also gave BP Amoco its blessing to acquire Los Angeles-based Atlantic Richfield Co., with minor conditions. Both deals are still being reviewed by the Federal Trade Commission.
July 28, 1992
Mobil Corp., one of several oil companies to report second-quarter results, said its profit fell 43% due to depressed demand for petroleum and chemical products. Atlantic Richfield Co. said its profit went up 25.6%, thanks to a strong market for refined products on the West Coast and higher prices for crude oil and natural gas. And Chevron Corp. said earnings dropped 9%, mostly due to short-term costs associated with work force cuts. But Phillips Petroleum Co.
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