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Oil Giant

OPINION
October 2, 2009
When Chevron was in a New York courtroom battling a lawsuit by thousands of indigenous Ecuadoreans, it argued that the case rightly belonged in their country. But now that the company is poised to lose in the Andean nation and could be assessed as much as $27 billion in damages, it says Ecuador isn't the right place either. Last week, the oil giant shopped the case to yet another court, filing a claim at the Permanent Court of Arbitration in The Hague. Chevron has long maintained that it would appeal an adverse decision, which is entirely understandable.
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NATIONAL
May 24, 2010 | By Ashley Powers and Richard Fausset, Los Angeles Times
The public-private response to the Gulf of Mexico oil leak showed more signs of strain Sunday as members of the Obama administration bashed BP's progress even as they acknowledged they had to rely on the oil giant's equipment and expertise to plug the blown-out well. In one of the harshest government condemnations of the company to date, Interior Secretary Ken Salazar said BP had blown "deadline after deadline" and had not "fulfilled the mission it was supposed to fulfill." "I am angry and I am frustrated that BP has been unable to stop this oil from leaking and to stop the pollution from spreading," Salazar said at a Houston news conference.
BUSINESS
May 12, 2011 | David Lazarus
It's easy to get cheesed about high gas prices when oil companies are raking in billions of dollars in profit. Chevron, for one, wants you to know that it's thinking the same. "Oil companies should put their profits to good use," the company declares in recent newspaper ads. And in response to that laudable sentiment, Chevron's chief financial officer, Patricia Yarrington, says, "We agree. " The ads go on to say that "California's economy needs energy to grow. And we're providing it. Reinvesting over $7 billion into the state over the past 5 years.
BUSINESS
April 5, 2012 | Bloomberg News
Chevron Corp. and Transocean Ltd. are being sued for $22 billion in environmental damages in Brazil, double the initial claims, after a federal prosecutor filed a lawsuit over a second oil spill off the nation's coast. Chevron committed "a series of errors" that led to the March spill at the Frade project, the federal prosecutors' office said. Prosecutor Eduardo Santos de Oliveira is also seeking to halt operations at the project and block the San Ramon, Calif., oil giant from transferring profits from Brazil.
NATIONAL
May 31, 2010 | Margot Roosevelt and Tina Susman
BP's plan to sever a leaking pipe as part of an effort to cap its runaway well in the Gulf of Mexico could increase flow by as much as 20%, and the oil giant has no remedy to stop up the well until August, Obama administration and company officials said Sunday. The risky maneuver, part of an attempt to contain the gusher and divert the oil through a pipe to the surface, could begin Monday or Tuesday. Administration and BP officials on Sunday sought to shift attention from last week's failed attempt to choke the well by focusing on expectations that a new cap could divert much of the leaking oil from the fragile ecosystem of the gulf.
BUSINESS
March 19, 2008 | From Reuters
A British judge Tuesday lifted a $12-billion freeze on Venezuelan assets awarded to Exxon Mobil Corp., dealing a blow to the oil giant in its fight with the OPEC nation over President Hugo Chavez's nationalization crusade. The ruling hands a victory to Chavez in the bare-knuckles dispute between the largest U.S. oil company and one of the world's most oil-rich countries that boosted energy market tensions and helped push oil prices to new records above $112 a barrel. "Our people won, our country won, our homeland won," Energy Minister Rafael Ramirez said in a news conference after earlier describing the decision as a "100%" victory for Venezuela.
BUSINESS
July 20, 2010 | By Steve Gelsi
Apache Corp. said Tuesday it agreed to buy a handful of BP's oil and natural gas fields throughout North America and Egypt for $7 billion, though the oil giant's Prudhoe Bay, Alaska operations were not part of the deal. Apache Corp., known for purchasing mature oil and gas properties and wringing more value out of them, will scoop up BP properties in Alberta and British Columbia, as well as the Permian Basin of West Texas and New Mexico and Egypt's Western Desert. All told, the Houston oil and gas company will add estimated proved reserves of 385 million barrels of oil equivalent to its portfolio.
NATIONAL
September 15, 2010 | By Julie Cart, Los Angeles Times
The trucks came at night, ferrying load after load of oil-field waste from Alabama to the US Liquids disposal facility in this tiny south Louisiana settlement. For the oil company, it was an easy decision: Exxon's drilling and production waste was classified as hazardous under Alabama law. Its disposal there would cost about $100 a barrel. In Louisiana, however, the chemical waste could be dumped into open pits at a cost of $8 a barrel. The US Liquids plant is across a two-lane highway from Clarice Friloux's property, which backs up to an alligator-filled bayou.
CALIFORNIA | LOCAL
April 7, 1995 | J. E. MITCHELL, SPECIAL TO THE TIMES
Exxon Corp. has been quietly shipping monthly tanker loads of crude oil west of the Channel Islands since October without permission of industry regulators, federal and state officials said Thursday. Environmentalists thought that they had secured a victory in October, 1993, when the oil giant decided to abandon its efforts to ship its Santa Ynez Unit field oil through the ecologically sensitive Santa Barbara Channel. But it was disclosed last week that regulators had discovered that the company was shipping 200,000 barrels a month from San Francisco to Los Angeles via a route west of the islands aboard the Exxon-owned tanker R/S Baytown.
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