CALIFORNIA | LOCAL
November 22, 1996
A fire at the Mobil Oil Refinery in Torrance on Thursday caused two minor injuries and led to the temporary closure of Crenshaw Boulevard and the onramps to the San Diego Freeway in both directions, officials said. The blaze at Crenshaw Boulevard and 190th Street broke out in the coker unit, a tank filled with a tar-like substance used in the refining process, at 2:45 p.m.
November 7, 1996 |
Mobil Corp. said it will form an alliance with Shell Oil Co. that will be composed of both companies' exploration and production operations in California. Fairfax, Va.-based Mobil said it will own 40% of the new company and that CalResources, a limited liability concern that is an affiliate of Shell, will hold the remainder. The company, which is expected to begin operations by mid-1997, will be based in Bakersfield.
October 22, 1996 |
Fairfax, Va.-based Mobil, the No. 2 oil company, said its profit fell 2%. "Third-quarter results were disappointing due to unfavorable market conditions in many of the businesses where we have a substantial presence," Chairman Lucio A. Noto said, adding that the company was hurt by unexpected refinery outages. Mobil earned $769 million, or $1.92 per share, for the quarter ended Sept. 30. That compares with $786 million, or $1.95, earned in the 1995 quarter.
CALIFORNIA | LOCAL
September 7, 1996 |
A fire that erupted at the 750-acre Mobil Oil Corp. refinery in Torrance on Friday shook nearby residents out of their beds at 5:18 a.m., causing many of them to flee when they saw flames coming from one of the many towers. The fire was under control less than two hours later. No one was injured or evacuated, Torrance Fire Chief R. Scott Adams said. Residents heard a loud boom and saw flames erupt from a unit called a platinum reformer, which upgrades low-octane gas to high-octane gas.
February 9, 1996 |
Faced with opposition from environmentalists and the community and the prospect of lengthy delays, Mobil Corp. said Thursday that it was pulling the plug on a novel proposal to drill for offshore oil from dry land in Santa Barbara. Mobil said it will abandon the Clearview project, first put forward three years ago, to drill into an underwater deposit of 155 million barrels of oil from a site onshore. "It was a business decision," said Shauna Clarke, a spokeswoman for Mobil's U.S.