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April 22, 1989
The Los Angeles City Council has approved a lease agreement between the Port of Los Angeles and Unocal that allows the oil company to continue using its supertanker terminal in San Pedro for the next 30 years. The lease is part of a package deal arranged with Unocal that also includes a commitment from the oil company to relocate its tank farm on 22nd Street in San Pedro within the next five years. Ann D'Amato, a deputy to harbor-area Councilwoman Joan Milke Flores, said Unocal has already dismantled the first of its nine tanks.
November 9, 2013 | By Scott Gold
AVILA BEACH, Calif. - Pretty regularly, the clouds cartwheel in from the sea and sock everybody in around here, except tiny Avila Beach. It'll be dreary up in Morro Bay and dreadful down in Pismo, but here, the hills cut through the fog and leave a little circle of sunshine. It's a microclimate, technically. But locals like to think of it as a halo. Things often seem to just happen here, whether it's a feeding frenzy of humpback whales in the bay or a nude volleyball game over at Pirate's Cove.
June 5, 1985 | DEBRA WHITEFIELD, Times Staff Writer
Unocal, fresh from its battle with Texas oilman T. Boone Pickens Jr., on Tuesday sued four insurance companies for allegedly canceling liability insurance policies on Unocal's directors the day after Pickens disclosed his 7.9% interest in the Los Angeles-based oil company. In a lawsuit filed in Los Angeles Superior Court, Unocal claims that the insurance companies' actions were illegal and fraudulent.
February 26, 2012 | By Ka Hsaw Wa
Among the thousands of interviews I've conducted as a human rights investigator over the last 24 years, one of the most difficult was in 1996, outside a refugee camp along the Thai-Burma border. I was no stranger to suffering in my country. I had fled from Burma (also known as Myanmar) just a few years before, escaping the brutal military regime after being arrested and tortured. I had gone to the camp to investigate reports that villages were being uprooted and brutalized to make way for a natural gas pipeline built by U.S. oil giant Unocal and other multinational corporations.
December 3, 1985 | DEBRA WHITEFIELD, Times Staff Writer
Fred L. Hartley, the feisty and outspoken 68-year-old chairman, chief executive and president of Unocal, said Monday that he is relinquishing the title of president to Richard J. Stegemeier, a Unocal senior vice president who also becomes chief operating officer. The move, approved Monday by Unocal's board, elevates Stegemeier, 57, to the No. 2 post at Unocal and positions him as the likely successor to Hartley, who hasn't announced any retirement plans.
July 1, 1998 | Bloomberg News
Unocal Corp. said it will jointly bid with other companies for electric power generation, gas pipeline, port and fertilizer projects in India that could be worth as much as $4 billion. The El Segundo-based oil and gas exploration company would manage the projects. Together with partners it didn't identify, Unocal will finance 70% of the costs through borrowings and the rest through equity, the company said. The projects would help Unocal tap surging demand for energy in India.
April 3, 1985 | From Times Staff and Wire Reports
Unocal Corp. said Tuesday that it has changed the quorum rule for its annual meeting in response to a takeover threat by an investor group led by Texas oilman T. Boone Pickens Jr. It is the second bylaw change in less than a month triggered by the threat of Pickens' group, Mesa Partners II, to take over or restructure Unocal, parent of Union Oil Co. of California. The Pickens group has spent about $1.1 billion accumulating 13.6% of Unocal's 173.7 million common shares.
September 25, 1985
The Los Angeles-based oil company said that, as a result of its redemption of $4.2 billion in senior secured notes, it will take a $194.2-million charge against earnings. The charge comes from the premium that the company is paying to buy back the notes. Unocal is replacing the notes with floating-rate bank debt.
June 20, 1987 | DONALD WOUTAT, Times Staff Writer
Unocal said Friday that it has dropped plans for a major modification of its oil-shale operations in western Colorado and won't use a controversial $500-million federal subsidy earmarked for the project. Company officials said they decided the changes, designed to capture and recycle excess heat from the current mining and oil-producing complex, would have cost about $352 million--or 35% more than expected. They also said they were not sure the technology would work.
April 9, 1986 | DONALD WOUTAT, Times Staff Writer
Unocal is trying to pare its work force with an early retirement offer that is expected to attract about 1,000 employees, the company confirmed Tuesday. Unocal has also implemented a hiring freeze. Despite the oil industry's retrenchment after oil prices began to decline in 1981, Unocal's worldwide employment has remained at about 20,000 since that time. The sharp drop in prices since November prompted the current belt-tightening.
October 22, 2009 | David Pierson
A Chinese company's gambit to drill for oil in U.S. territory demonstrates China's determination to lock up the raw materials it needs to sustain its rapid growth, wherever those resources lie. The state-owned China National Offshore Oil Corp., or CNOOC, reportedly is negotiating the purchase of leases owned by the Norwegian StatoilHydro in U.S. waters in the Gulf of Mexico, the source of about a quarter of U.S. crude oil production. China's push to enter U.S. turf comes four years after CNOOC's $18.5-billion bid to buy Unocal Corp.
August 9, 2008 | From Bloomberg News
Chevron Corp. agreed to pay $48 million to settle class-action lawsuits by California consumers over claims that Unocal Corp., which Chevron acquired in 2005, misled regulators about pending patents it held on technology for making cleaner-burning gasoline. The Federal Trade Commission sued Unocal in 2003, alleging that it misled California regulators after the state adopted clean-air standards.
December 15, 2005 | From Times Staff and Wire Reports
Philip Blamey, 82, the former chief financial officer of Unocal who helped thwart a 1980s takeover by T. Boone Pickens' Mesa Petroleum, died of natural causes Nov. 22 in La Habra. Blamey was on the elite executive team tapped by Unocal Chairman Fred L. Hartley when Pickens started buying company stock in late 1984. After months of litigation and negotiation, Unocal bought back stock and remained independent.
November 12, 2005 | From Associated Press
Chevron Corp. said Executive Vice President Charles R. Williamson, the former chairman and chief executive of recently acquired Unocal Corp., was retiring, effective Dec. 1. Williamson joined Union Oil Co. of California as a research scientist in 1977. He worked for the company in various capacities, climbing to the chief executive post in 2001. Williamson had said before that he would remain with Chevron for a few months to assist with the transition.
October 6, 2005 | Evelyn Iritani, Times Staff Writer
Some congressional leaders are seeking tighter controls on foreign investment in the U.S. after the failed Chinese bid for Unocal, but business groups say such moves could scare away much-needed foreign funds. The Senate Banking, Housing and Urban Affairs Committee will hold a hearing today to consider revamping the Committee on Foreign Investment in the United States, an obscure inter-agency group responsible for screening foreign investments for national security concerns.
August 20, 2005 | David Colker, Times Staff Writer
Even the tchotchkes of Unocal are being sold off. The storied oil company was sold last week to Chevron Corp. in an $18-billion deal after rival bidder CNOOC Ltd. of China backed out. But in July, when it was apparent that El Segundo-based Unocal Corp. would disappear, employees started collecting memorabilia, keepsakes and artwork that had been stuffed in closets or hung on the walls of offices soon to be vacated.
March 13, 1985 | NANCY RIVERA and DEBRA WHITEFIELD, Times Staff Writers
In an escalation of a takeover battle that has yet to be formally announced, Unocal Corp. on Tuesday sued its own longtime bank over loans the bank made to Unocal's undeclared suitor, Texas oilman T. Boone Pickens. In addition, Fred L. Hartley, chairman of the Los Angeles-based company, sent a letter to Federal Reserve Chairman Paul A. Volcker blasting the "junk financing" being used to feed "a takeover frenzy that strikes at the economic well-being of this country."
Unocal Corp. was found guilty Tuesday on three criminal pollution charges and ordered to pay $1.5 million for its massive leak of petroleum thinner into the ocean and ground water at its Guadalupe oil field. The court action, based on Unocal's plea of no contest to the three counts, puts an end to the criminal case against the oil company for negligence in discharging up to 8.5 million gallons of the diesel-like liquid and failing to report the spills as required by law.
August 11, 2005 | Elizabeth Douglass, Times Staff Writer
One of California's oldest and most storied oil companies officially disappeared Wednesday as Unocal Corp. shareholders approved a buyout offer from Chevron Corp. The $18-billion deal became final after owners of more than 77% of Unocal's shares voted for Chevron's offer, which seemed destined to prevail after rival bidder CNOOC Ltd. of China backed out last week amid intense congressional resistance. About 2.
August 10, 2005 | From Times Wire Services
After months of haggling and international intrigue, Unocal Corp. shareholders will finally meet today to approve a takeover by Chevron Corp. The vote will mark the end of Unocal as an independent company and a rebuffing of Chinese attempts to secure much-needed energy resources by buying an American oil company. Few doubt Chevron will win approval after rival Chinese bidder CNOOC Ltd. pulled out of the takeover battle citing intense political opposition.
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