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Oil Giant

BUSINESS
March 24, 2009 | Associated Press
Suncor Energy Inc. plans to acquire Petro-Canada for $15.5 billion, uniting two of Canada's biggest oil companies as the nation's energy industry retrenches. If the deal announced Monday is approved, it would create the largest oil company in Canada, with a market capitalization of about $38 billion. That's much smaller than global heavyweights such as Exxon Mobil Corp. and ConocoPhillips, which boast market capitalizations of $326.6 billion and $55.
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CALIFORNIA | LOCAL
February 8, 2009 | Richard C. Paddock
Chevron Corp., which prevailed in a human-rights lawsuit seeking to hold it responsible for the shooting of Nigerian protesters at an oil platform, is seeking nearly $500,000 in legal costs from the villagers who brought the suit. Chevron's claim for reimbursement, filed in federal court, includes $190,000 in copying charges. The San Ramon-based company, which posted a record $23.
CALIFORNIA | LOCAL
December 2, 2008 | Richard C. Paddock, Paddock is a Times staff writer.
A federal jury Monday cleared Chevron Corp. of any responsibility in the shooting of Nigerian villagers by military forces during a protest at an offshore oil platform, concluding a closely watched case brought under a seldom-invoked 1789 law allowing foreigners to sue in the United States.
WORLD
November 17, 2008 | Chris Kraul, Kraul is a Times staff writer.
Abel Garrido has just struck oil and he's not happy about it. Using a tree branch, the weathered farmer probed the edge of a pond that his cattle use for drinking water and soon turned up the smelly black sludge that he says has killed much of his livestock and sickened his family. "I've lost 30 cows," Garrido said. "I cut them open and their insides are black." Paying the medical bills to treat his three children for skin cancer has cost him his meager savings.
BUSINESS
July 16, 2008 | John Porretto, The Associated Press
The same historically high oil prices that are expected to contribute to massive profits for the major oil companies in the second quarter are again dragging down financial results in their refining operations. And for companies whose primary business is refining oil and selling gasoline, quarterly earnings versus a year earlier could be ugly. Plummeting stock prices for many refiners reflect the difficult operating environment.
WORLD
April 13, 2008 | Chris Kraul, Times Staff Writer
Two Ecuadoreans who have waged a 14-year fight to bring a U.S. energy giant to account for what they allege is massive oil contamination in the Amazon are among the winners of an international environmental prize. Pablo Fajardo Mendoza and Luis Yanza each will receive $150,000 today from the San Francisco-based Goldman Environmental Prize for organizing half a dozen indigenous communities to pursue legal action against Texaco and then Chevron Corp. after the two companies merged in 2001.
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
February 12, 2008 | Chris Kraul, Times Staff Writer
Venezuela's state oil company reportedly moved to protect its assets from Exxon Mobil Corp.'s legal reach Monday as experts speculated that the South American energy giant may be suffering a severe cash shortage. Petroleos de Venezuela, or PDVSA, instructed its traders to deposit oil receipts with UBS bank in Switzerland, the Reuters news agency reported Monday. The move follows Exxon Mobil's victory last week persuading U.S.
BUSINESS
February 11, 2008 | Chris Kraul, Times Staff Writer
For most of Latin America's state oil companies, these are hardly halcyon days: Although high global prices have lifted revenue, crude oil production is either in decline or moving sideways. Then there's Brazil's go-go Petrobras. The company has doubled its oil output over the last decade to 2.2 million barrels a day and joined the ranks of the world's major producers.
CALIFORNIA | LOCAL
September 12, 2007 | Tim Reiterman, Times Staff Writer
SAN FRANCISCO -- Taking a new tack in his statewide campaign against global warming, California Atty. Gen. Jerry Brown announced a settlement Tuesday that requires ConocoPhillips to spend $10 million to offset greenhouse gases created by a proposed $600-million expansion of its East Bay refinery. Brown told a news conference that the accord was believed to be the first time an oil refinery in the United States had agreed to mitigate increased carbon emissions from an expansion project.
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