July 1, 2000 |
Tosco Corp., one of the largest U.S. oil refiners, said its 76 Lubricants unit will shut plants in California and Oregon to cut costs as high oil prices and flat sales cut into profit. A blending and packaging plant in Richmond, Calif., and a packaging plant in Portland, Ore., will be shut down and operations moved to Los Angeles, 76 Lubricants President Garry Rooney said. A bulk lubricants plant in Portland will remain open.
January 8, 2000 |
Tosco Corp. agreed to pay about $2 million in fines and restitution after pleading no contest to criminal charges stemming from a refinery explosion and fire last year that killed four workers and seriously injured a fifth. In a settlement with the Contra Costa County district attorney's office, Tosco will pay the maximum fine of $945,000, contribute $1 million toward a new health clinic in the Northern California city of Pittsburg and pay up to $100,000 in county investigative and legal costs.
April 2, 1997 |
Unocal Corp.'s $2-billion sale of its 76 Products Co. subsidiary to oil refinery and convenience store operator Tosco Corp. was completed Tuesday but Tosco officials said they still had no tally of how many 76 Products workers would be laid off in the consolidation that will follow. Tosco has said it plans to move 76 Product's headquarters from Costa Mesa and merge it with Tosco Marketing Co. in Phoenix.
December 3, 1999 |
The new Exxon Mobil Corp. said it agreed to sell 1,740 service stations to Tosco Corp. for $860 million. The move came just two days after Exxon Corp. and Mobil Corp. agreed to a Federal Trade Commission demand that they sell 2,431 stations over the next year as a condition of their merger. Separately, Exxon Mobil said it might eliminate more than the 9,000 jobs the companies had estimated when they announced their merger plans last December.
July 14, 2000 |
Tosco Corp. agreed to buy the Alliance refinery in Louisiana from BP Amoco for $660 million. The refinery can process 250,000 barrels of oil a day into fuels. Tosco, an oil refiner that also operates Circle K convenience stores, expects that Alliance's ability to make cleaner-burning gasoline will boost earnings by 35 cents a share next year. The purchase allows Tosco to replace the Avon refinery near San Francisco, which it agreed to sell last week.
August 15, 1997 |
It's not all cutthroat competition out there. 76 Lubricants Co. says it now gets its basic motor oil supply from Exxon Corp. When it was owned by Unocal, the Costa Mesa-based lubricants company got its raw materials from Unocal refineries. But New Jersey refinery and convenience store operator Tosco Corp. acquired the refineries as part of its $2-billion purchase of Unocal 76 Products Co. and has changed the mix of things being refined.
March 23, 1999 |
Tosco Corp., an oil refiner and the nation's largest operator of company-owned convenience stores, said it has sold about 320 gas stations and convenience stores in the Midwest, Texas, Utah and Colorado for about $125 million to an undisclosed buyer. Tosco, owner of the Circle K chain, said in a statement that the facilities did not meet company rate-of-return criteria and that it will be focusing on those outlets producing the best returns. Tosco, based in Stamford, Conn.
February 8, 2000 |
Oil refiner Tosco Corp. agreed to buy all of Nuevo Energy Co.'s California crude oil production for 15 years to supply its four refineries in the state. Nuevo Energy, a Houston-based oil and natural-gas exploration company, said it expects Tosco to pay about 72% of the New York Mercantile Exchange price for the first four years. Tosco owns Circle K convenience stores and operates gas stations in California under the 76 and BP brands. It will receive about 48,000 barrels of crude oil a day.
April 27, 1999 |
Tosco Corp., the nation's fifth-largest oil refiner, said it's awaiting the results of a safety audit due today before deciding whether to restart an oil refinery near San Francisco. Tosco shut its Avon refinery March 2 at the request of the Contra Costa County Board of Supervisors after a fire killed four workers.