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.
May 25, 1999 |
An unusual sight greeted motorists passing the Unocal Corp. business complex in Brea: two large puppet-like effigies dancing and shadowboxing as part of a protest at the oil company's annual shareholders meeting. One effigy, in a dark suit, was labeled "Unocal CEO," and the other was dressed as a military officer.
May 7, 2002 |
Unocal Corp.'s bid to collect at least $300 million from major refiners might be delayed for months to allow U.S. officials to review a patent for cleaner gasoline at the center of the case. The Patent and Trademark Office last year began reexamining the validity of Unocal's patent on the gasoline formula at the request of refiners. The agency rejected Unocal's patent in a preliminary review in February. U.S.
December 15, 1999 |
Unocal Corp. said Tuesday that it will split off its oil and natural gas exploration operations in Texas and New Mexico into a new company that will buy Titan Exploration Inc. El Segundo-based Unocal will own 65% of the new company, Pure Energy Resources Inc. Titan holders will swap each of their shares for 0.4302 of a Pure Energy share. Midland, Texas-based Titan has a market value of about $133 million, based on Tuesday's closing price.
August 3, 2005 |
The Chinese oil company battling to buy Unocal Corp. abandoned its effort Tuesday because of what it termed "regrettable and unjustified" U.S. political opposition, ending a showdown that spotlighted American concerns about energy security. The decision by CNOOC Ltd., largely owned by the Chinese government, to drop its $18.5-billion bid for Unocal clears the way for Chevron Corp. to acquire the El Segundo-based company in a deal currently valued at $17.5 billion.
January 30, 2004 |
The sudden death of Timothy H. Ling, Unocal Corp.'s president and chief operating officer, leaves the El Segundo oil company with an unexpected hole in its senior management team. Ling, 46, also was a member of the company's board of directors. He died Wednesday after an ice hockey workout. The cause of death was not immediately known, and an autopsy will be performed.
July 8, 1999 |
Unocal Corp., which explores for oil in the U.S. and Asia, will take about $14 million, or 6 cents a share, in second-quarter charges because efforts to develop two deep-water wells in the Gulf of Mexico were not successful. About $3.7 million, or 2 cents a share, of the second-quarter charge is for Unocal's Nag el Madamud well, which did not produce enough oil to justify the expense of pumping there, the company said. The remaining $10.
May 11, 2005 |
Unocal Corp., which is being acquired by Chevron Corp., said Tuesday that it would seek bids for oil and natural gas properties in western Canada to take advantage of higher valuations. The properties had first-quarter production equivalent to 36,900 barrels of oil a day, El Segundo-based Unocal said. The company hopes the sale will be completed by the end of the year, spokesman Barry Lane said. Unocal had decided to sell the properties before Chevron offered to buy the company, Lane said.
April 14, 1995 |
An angry rift in the oil industry moved into court Thursday when six oil companies sued Los Angeles-based Unocal Corp. over its sweeping patent for the cleaner-burning gasoline that will be required in California beginning next year. The companies say Unocal's patent is so broadly drawn that it could force all refiners in the state to pay huge royalties for formulas that the plaintiffs say should be in the public domain. The royalties could total a penny a gallon, or $80 million a year.
CALIFORNIA | LOCAL
December 2, 1993 |
Unocal Corp., locked in a battle with residents over its proposal to reopen an oil-water separation plant, will hold a public meeting on the issue tonight. The meeting comes about a month before the City Council is scheduled to vote on the controversial proposal, which is opposed by some residents who fear that reopening the plant will cause noise and pollution problems. "This gives residents a chance to tell us what's on their minds," said Janet McClintock, spokeswoman for Unocal.