April 19, 2005 |
Sen. Charles E. Schumer (D-N.Y.) urged the Federal Trade Commission to block ChevronTexaco Corp.'s $16.4-billion purchase of Unocal Corp. and joined nine other senators, including California Democrat Barbara Boxer, in asking the FTC to carefully review the combination. The senators said they were concerned the deal would reduce competition. Spokesmen for San Ramon, Calif.
April 6, 2005 |
A Unocal Corp. stockholder filed suit against the El Segundo-based oil company, alleging that Unocal's agreement to be acquired by ChevronTexaco Corp. was unfair to Unocal's investors. Unocal agreed Monday to be bought for cash and ChevronTexaco stock totaling $16.4 billion, or about $62 a share. Unocal's stock closed at $64.35 on Friday, then fell to $59.60 a share on the New York Stock Exchange after the deal was announced.
December 13, 2000 |
Unocal Corp., the El Segundo-based oil and natural gas explorer, said it plans to boost spending on drilling and exploration by as much as 14% to take advantage of higher prices and demand for fossil fuels. Unocal plans to spend $1.5 billion to $1.6 billion next year to increase production and reserves, from an estimated $1.4 billion this year, Unocal spokesman Barry Lane said.
September 4, 2003 |
El Segundo-based Unocal Corp. said it was not considering withdrawing from its investment in the Yadana natural gas project in Myanmar, despite pressure from California Treasurer Phil Angelides and New York Comptroller Alan G. Hevesi. A day earlier, Unocal said it was taking under advisement a request by Angelides and Hevesi to drop the project or prove to shareholders that its value outweighs any risk.
CALIFORNIA | LOCAL
February 21, 1991 |
Unocal Corp. paid a $903,846 settlement to avoid civil prosecution for allegedly violating a major pollution law at more than half of its service stations in Orange County, prosecutors said. The Los Angeles-based oil company endangered public health and water supplies by failing to check for leaks and obtain necessary permits for underground gas tanks at 72 of its 143 stations in the county, Dist. Atty. Michael R. Capizzi alleged. Deputy Dist. Atty.
March 30, 2000 |
Unocal Corp. said five rival oil companies must pay it about $91 million after a federal appeals court in Los Angeles upheld its patent on a cleaner-burning form of gasoline used in California. The companies are Exxon Mobil Corp., Chevron Corp., Texaco Inc., Shell Oil Co. and Atlantic Richfield Co. A federal jury in Los Angeles found in late 1997 that the defendants had infringed Unocal's patent for reformulated gasoline. Unocal was awarded damages amounting to about $69 million.