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By BLOOMBERG NEWS | April 15, 2000
WASHINGTON -- The Federal Trade Commission, overriding its chairman, excused BP Amoco PLC from a condition the company had accepted to win approval of its $32 billion buyout of Atlantic Richfield Co. The commissioners voted 3-2 to lift a settlement provision that would have prohibited the London-based company from "knowingly and intentionally" exporting Alaska North Slope crude to Asia and other places to raise prices on the West Coast. The vote Wednesday is believed to be the first defeat for Chairman Robert Pitofsky, who in his five-year tenure has relied on the support of fellow Democrats Mozelle Thompson and Sheila Anthony to forge a three-member majority.
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Mary Carole McCauley and The Baltimore Sun | July 11, 2014
Chump change it ain't. With a net worth estimated at a cool $2.1 billion, Baltimore's Blaustein brood ranks as number 108 on Forbes' magazine's list of the 185 richest families in America, worth a combined $1.2 trillion. The only Charm City clan to make the list, the Blausteins made their bucks in the early 20th century, according to the Blaustein Philanthropic Group's website. It seems that Louis, a Lithuanian immigrant, and his son, Jacob, teamed up to deliver kerosene in a horse-drawn wagon through the streets of Baltimore.  In 1910, the pair named their fledgling business the American Oil Company -- Or Amoco.
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BUSINESS
By BLOOMBERG NEWS | April 1, 1999
LONDON -- BP Amoco PLC's board approved a plan yesterday to buy Atlantic Richfield Co., the eighth-largest U.S. oil company, for as much as $28 billion, a person familiar with the situation said.Arco's board is meeting today to consider the offer. Analysts expect the transaction to value Arco's shares at $75 or more each. That is about a 20 percent premium to their price last week, before the companies said they were in talks.The combination would create the largest oil producer and refiner in the United States.
NEWS
By Frederick N. Rasmussen and Frederick N. Rasmussen,fred.rasmussen@baltsun.com | November 24, 2008
Lemuel O. Warfield, a former naval fighter pilot and reservist who later became an oil company manager, died Nov. 15 at the Maryland Shock Trauma Center from complications of a fall he suffered at his Annapolis home. He was 80. Mr. Warfield was born in Baltimore and raised in Towson. After graduating from Polytechnic Institute in 1945, he enlisted in the Navy. He was designated a naval aviator in 1948 and commissioned an ensign. He was assigned to Fighting Squadron 23 aboard the aircraft carrier USS Coral Sea in the Pacific Theater.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | April 13, 2000
WASHINGTON -- The federal government is on the verge of announcing a settlement of its large antitrust case that has blocked BP Amoco PLC from completing the $30 billion acquisition of Atlantic Richfield Co., according to people involved in the case. The Federal Trade Commission met in a closed-session hearing yesterday afternoon to consider a recommendation from the staff to settle the case after the companies agreed to sell one of the crown jewels of the deal -- ARCO's large oil and natural gas holdings in Alaska -- to Phillips Petroleum Co. for about $7 billion.
BUSINESS
By BLOOMBERG NEWS | March 30, 1999
LONDON -- BP Amoco PLC, the world's third-largest publicly traded oil company, said yesterday that it is negotiating to buy Atlantic Richfield Co. BP Amoco may pay as much as $25 billion in stock, a person familiar with the talks said.An announcement may come this week after the boards meet, the source said. BP Amoco and Arco jointly confirmed that negotiations are under way.The oil industry has been consolidating as it struggles with oil prices that fell by a third last year. A combined BP Amoco and Arco, the No. 8 U.S. oil company, could slash costs to blunt declining production at Alaska's Prudhoe Bay, the largest North American oil field.
FEATURES
Mary Carole McCauley and The Baltimore Sun | July 11, 2014
Chump change it ain't. With a net worth estimated at a cool $2.1 billion, Baltimore's Blaustein brood ranks as number 108 on Forbes' magazine's list of the 185 richest families in America, worth a combined $1.2 trillion. The only Charm City clan to make the list, the Blausteins made their bucks in the early 20th century, according to the Blaustein Philanthropic Group's website. It seems that Louis, a Lithuanian immigrant, and his son, Jacob, teamed up to deliver kerosene in a horse-drawn wagon through the streets of Baltimore.  In 1910, the pair named their fledgling business the American Oil Company -- Or Amoco.
NEWS
August 13, 1998
THE $48.2 BILLION merger of BP with Amoco flows from weak oil profits caused by overproduction by Third World countries. It will create the third biggest oil company in the world, after Exxon, which was once Standard Oil of New Jersey, and Royal Dutch/Shell.BP Amoco will also unite the legacies of giants.One was John D. Rockefeller, who founded Standard Oil of Ohio in 1870, a monopoly until broken in 1911. Another was William Knox D'Arcy, an Englishman whose investments a century ago became the Anglo-Persian Oil Co., later British Petroleum, now BP.A third was Louis Blaustein, who left Standard Oil to found the American Oil Co. in 1910.
NEWS
By Alec MacGillis and Alec MacGillis,SUN STAFF | March 25, 2001
Things didn't work out the way they were supposed to, but a Victorian house in Clarksville on the verge of being demolished to make room for a gas station will have a new home after all - maybe new homes. BP Amoco, which is building a gas station at Routes 108 and 32, was planning to auction the house yesterday morning. The highest bidder would get to cart the handsome 110-year-old three-story house to a new lot, and proceeds would go to Preservation Howard County, the group that set out to save it from destruction.
NEWS
By Frederick N. Rasmussen and Frederick N. Rasmussen,SUN STAFF | June 21, 2000
Owen M. Ray Sr., owner and founder of Sun Ray Motor Tours, died June 14 of heart failure at Sinai Hospital. He was 63 and lived in Randallstown. Since 1994, Mr. Ray, former owner of several Baltimore Amoco service stations, had operated a tour bus company that transported Georgetown University students and was available for charter and East Coast tours. A gregarious man who arranged tours and drove the silver, burgundy and light blue Blue Bird motor coach, Mr. Ray was known for his commentary that highlighted roadside points of interest.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | February 4, 2007
I am a shareholder in BP PLC who is concerned about the company's prospects, especially with its leadership issues. - K.L., via the Internet The giant oil company, formed by the merger of British Petroleum Co. and Amoco Corp. in 1998, has set the bar high with production growth targets that exceed those of its competitors. It has an impressive portfolio of deep-water oil and gas projects and in liquefied natural gas, while its chemical operations are especially strong in Asia. A consistent performer, it hasn't had an unprofitable year in the past decade, and its disclosure of financial information has been admirable.
NEWS
By William Patalon III and Julie Bell and William Patalon III and Julie Bell,SUN STAFF | January 14, 2003
Crown Central Petroleum Corp., the owner of refineries and gas stations whose Baltimore roots stretch back nearly 100 years, has hired an investment banker to help it sell the company - as a whole, or piece by piece. Crown has hired New York-based Park Avenue Equity Management LLC to help sell its two Texas gasoline refineries, its 10 product terminals and its 315 retail locations. "While this was a hard decision, we believe that, in view of the difficult environment faced by independent refiners and retailers during the past year and a half, it is the right thing to do," Frank B. Rosenberg, Crown's president and chief executive officer and a great-grandson of the company's founder, said yesterday in a news release.
NEWS
By Alec MacGillis and Alec MacGillis,SUN STAFF | March 25, 2001
Things didn't work out the way they were supposed to, but a Victorian house in Clarksville on the verge of being demolished to make room for a gas station will have a new home after all - maybe new homes. BP Amoco, which is building a gas station at Routes 108 and 32, was planning to auction the house yesterday morning. The highest bidder would get to cart the handsome 110-year-old three-story house to a new lot, and proceeds would go to Preservation Howard County, the group that set out to save it from destruction.
NEWS
By Frederick N. Rasmussen and Frederick N. Rasmussen,SUN STAFF | June 21, 2000
Owen M. Ray Sr., owner and founder of Sun Ray Motor Tours, died June 14 of heart failure at Sinai Hospital. He was 63 and lived in Randallstown. Since 1994, Mr. Ray, former owner of several Baltimore Amoco service stations, had operated a tour bus company that transported Georgetown University students and was available for charter and East Coast tours. A gregarious man who arranged tours and drove the silver, burgundy and light blue Blue Bird motor coach, Mr. Ray was known for his commentary that highlighted roadside points of interest.
BUSINESS
By BLOOMBERG NEWS | April 15, 2000
WASHINGTON -- The Federal Trade Commission, overriding its chairman, excused BP Amoco PLC from a condition the company had accepted to win approval of its $32 billion buyout of Atlantic Richfield Co. The commissioners voted 3-2 to lift a settlement provision that would have prohibited the London-based company from "knowingly and intentionally" exporting Alaska North Slope crude to Asia and other places to raise prices on the West Coast. The vote Wednesday is believed to be the first defeat for Chairman Robert Pitofsky, who in his five-year tenure has relied on the support of fellow Democrats Mozelle Thompson and Sheila Anthony to forge a three-member majority.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | April 13, 2000
WASHINGTON -- The federal government is on the verge of announcing a settlement of its large antitrust case that has blocked BP Amoco PLC from completing the $30 billion acquisition of Atlantic Richfield Co., according to people involved in the case. The Federal Trade Commission met in a closed-session hearing yesterday afternoon to consider a recommendation from the staff to settle the case after the companies agreed to sell one of the crown jewels of the deal -- ARCO's large oil and natural gas holdings in Alaska -- to Phillips Petroleum Co. for about $7 billion.
NEWS
May 10, 1996
FOR FREDERICK-BASED Solarex, the future is suddenly bright. For the first time in years, the solar-power business is growing -- at 20 percent a year. Third World countries see solar energy as a cheap way to bring electricity to thousands of far-flung villages. New technology has dramatically cut production costs and raised energy efficiency. Within a decade, the price of solar may yet be competitive with oil and gas.This is a marked change for an industry that has failed to meet expectations since Jimmy Carter pointed to solar energy as a cheap alternative to oil in the 1970s.
NEWS
By William Patalon III and Julie Bell and William Patalon III and Julie Bell,SUN STAFF | January 14, 2003
Crown Central Petroleum Corp., the owner of refineries and gas stations whose Baltimore roots stretch back nearly 100 years, has hired an investment banker to help it sell the company - as a whole, or piece by piece. Crown has hired New York-based Park Avenue Equity Management LLC to help sell its two Texas gasoline refineries, its 10 product terminals and its 315 retail locations. "While this was a hard decision, we believe that, in view of the difficult environment faced by independent refiners and retailers during the past year and a half, it is the right thing to do," Frank B. Rosenberg, Crown's president and chief executive officer and a great-grandson of the company's founder, said yesterday in a news release.
BUSINESS
By Mara H. Gottfried and Mara H. Gottfried,CONTRIBUTING WRITER | January 18, 2000
Bobby Fletcher, owner of Fletcher's Amoco in Olney, estimates that he saves about 10 percent to 15 percent on his electricity bills each month, thanks to the new "thin-film" solar panels that glisten on the canopy over the pumps. BP Amoco PLC spent about $30,000 to build and install the panels at the Georgia Avenue station. Company officials hail the solar panels, lined in 12 rows of 12, as the first thin-film panels in use at a gas station in the United States. Fletcher of Olney is a believer in the importance of his business' public image.
NEWS
September 5, 1999
JACOB BLAUSTEIN started a vast oil marketing empire with a horse and a wagon.In 1910, 18-year-old Jacob and his father, Louis, formed the impressive-sounding American Oil Co. and sold kerosene in Baltimore from a horse-drawn tank wagon.American Oil -- now part of the petroleum colossus BP Amoco, formed in 1998 when British Petroleum acquired Amoco -- first operated out of a livery stable on Clark- son and Wells streets. The family horse, Prince, pulled a wagon with a large metal tank.Louis, who fled Lithuania in 1888, sold petroleum products for John D. Rockefeller's Standard Oil of New Jersey for 18 years.
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