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December 5, 2009
%HTMLsymbol; %HTMLspecial; ]> bz.digest05.ART Chevron pulls out from 1,100 gas stations in East NEW YORK - Chevron will pull its name from about 1,100 service stations in eastern states, the oil giant said Friday. It's just the latest oil major to cut back on retail operations where profit margins can be razor-thin.
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March 6, 2013
Rocky Gonzalez, left, is presented a 25 year Chevron and Letter of Appreciation by Club President David Reed in recognition of 25 years of membership and service with the Churchville Lions Club. The Churchville Lions are supporting many efforts and organizations in the community, including First LEGO League, Leader Dogs, SIDS and SARC.
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BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | August 18, 1992
Exxon Corp. and Chevron Corp. are considering closing their oil barge terminals in Salisbury on the Eastern Shore to increase efficiency.Such a move could put more oil tanker trucks on the road and present more of an environmental threat to the Eastern Shore, according to a water transport business group.Judy M. Carlson, administrator of Delmarva Water Transport Committee, said that for every barge that can carry 4,116 tons of oil, 147 28-ton tanker trucks would have to be used to carry in the oil. "You are actually compounding the environmental damage," she said.
BUSINESS
December 5, 2009
%HTMLsymbol; %HTMLspecial; ]> bz.digest05.ART Chevron pulls out from 1,100 gas stations in East NEW YORK - Chevron will pull its name from about 1,100 service stations in eastern states, the oil giant said Friday. It's just the latest oil major to cut back on retail operations where profit margins can be razor-thin.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 3, 2007
What do you think will happen with my shares of Chevron Corp.? - C.C., via the Internet The second-largest U.S. oil company, created by the 2001 merger of Chevron and Texaco, is expected to continue its long track record of using strong cash flow to reward shareholders. Its financial results are directly affected by the price of crude oil, which has provided a dramatic boost over the past two years, and its ability to expand international exploration and production. The company operates in oil and gas in more than 180 countries.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | February 13, 1993
Several dozen Chevron dealers in the mid-Atlantic region have organized and are considering a legal challenge to the oil company's plans to leave the market, their attorney said yesterday.Gerald M. Bowen, a lawyer in McLean, Va., said a group of Chevron dealers have retained him to protect their interests in the wake of Chevron's decision, announced in December, to turn over 63 stations to Exxon Corp. and sell or close another 30.Mr. Bowen said his "preliminary determination" was that the conduct of Exxon and Chevron was "legally insufficient" under the federal law governing an oil company's withdrawal from a market.
NEWS
By Amy L. Miller and Amy L. Miller,Staff Writer | December 20, 1992
A decision by Chevron to trade 65 of the company's Maryland gas stations to Exxon for 59 in Florida will not affect those in Carroll County, station owners said Friday.The five county stations -- located in Westminster, Manchester, Union Bridge, Taneytown and Winfield -- are not part of the exchange because all are owned by Tevis Oil Co. and not Chevron, said Gus Hook, Tevis' petroleum sales manager."It will be business as usual under the Chevron sign for these five locations for an indefinite period," Mr. Hook said.
BUSINESS
By Los Angeles Daily News | January 12, 1993
LOS ANGELES -- Three major oil companies have agreed to pay $77 million to settle a nearly 18-year-old gasoline price-fixing lawsuit filed on behalf of consumers in four Western states, officials said.The settlement announced yesterday with Chevron Corp., Mobil Oil Co. and Shell Oil Co. includes $65.5 million in cash and $11.5 million in vouchers that businesses and nonprofit groups can use to purchase fuel.It concludes a 1975 lawsuit that charged 10 major oil companies with conspiring to eliminate competition and raise gasoline and petroleum product prices during the 1960s and 1970s.
BUSINESS
By New York Times News Service | December 29, 1992
SAN FRANCISCO -- Chevron Corp. said yesterday that it expects to begin full-scale operations April 1 in its joint venture with the Republic of Kazakhstan to develop the immense Tengiz and Korolev oil fields on the northeastern Caspian Sea coast.Tengiz is regarded as one of the world's top 10 fields, with reserves likely to be as much as 35 billion barrels.After two years of often tortuous negotiations, Chevron and Kazakhstan agreed in May to a 50-50 joint venture to develop the oil fields, the largest such arrangement to date between a large republic of the Commonwealth of Independent States and a multinational oil company.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | December 11, 1992
Chevron U.S.A. Products Co. announced yesterday that i would end its gasoline station operations in Maryland, Washington and Tidewater Virginia to concentrate on other areas of its market.The San Francisco-based oil company said it would leave the market by turning over 65 stations and a vacant piece of property in Maryland to Exxon Corp. In exchange, Chevron would receive 59 Exxon stations in the South Florida counties of Dade, Palm Beach and Broward.The affected stations include 30 in Maryland, 30 in Virginia and 5 in Washington, according to Exxon spokesman Les C. Rogers.
FEATURES
By Kenneth Turan and Kenneth Turan,Tribune Newspapers | November 13, 2009
"Crude" sounds like the standard "this is an outrage" environmental degradation documentary, the latest in a line that includes "An Inconvenient Truth" and films about the deaths of the oceans, the evaporation of water, the murder of dolphins, even the disintegration of dirt. "Crude" fits that bill, but it is something considerably more interesting as well. The outrage in question is the subject of a class action suit filed by 30,000 residents of Ecuador against Chevron, the world's fifth-largest corporation, alleging that 18 billion gallons of toxic wastewater were dumped into the Amazon between 1972 and 1990, fatally poisoning the land and water and sickening inhabitants.
NEWS
October 19, 2008
GEORGE KELLER, 84 Former Chevron chairman George Keller, who oversaw the formation of Chevron Corp. in what was then the largest corporate takeover, died Friday in Palo Alto, Calif. The former chairman and chief executive died of complications from orthopedic surgery. As chairman of the Standard Oil Co. of California, Mr. Keller executed the company's $13.3 billion takeover of Gulf Oil to form Chevron in 1984. The deal was considered risky at the time.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 3, 2007
What do you think will happen with my shares of Chevron Corp.? - C.C., via the Internet The second-largest U.S. oil company, created by the 2001 merger of Chevron and Texaco, is expected to continue its long track record of using strong cash flow to reward shareholders. Its financial results are directly affected by the price of crude oil, which has provided a dramatic boost over the past two years, and its ability to expand international exploration and production. The company operates in oil and gas in more than 180 countries.
NEWS
By Elizabeth Douglass and Elizabeth Douglass,LOS ANGELES TIMES | September 6, 2006
Chevron Corp. and two partners said yesterday that they had tapped a potentially huge source of oil in the Gulf of Mexico's deep waters, raising hopes that further discoveries in the region could help ease the nation's oil supply woes. The successful test of the deepest well ever drilled in U.S. territory showed such promise that some think the undersea oil pool could be the largest domestic discovery of crude since Alaska's Prudhoe Bay field began flowing nearly 40 years ago. "An opportunity like this only comes once every few decades," said Daniel Yergin, chairman of Boston-based Cambridge Energy Research Associates.
BUSINESS
By AMEET SACHDEV AND MARK SKERTIC and AMEET SACHDEV AND MARK SKERTIC,CHICAGO TRIBUNE | May 25, 2006
CHICAGO -- She's been hailed as one of the most powerful women in business, but in the Midwest, Patricia A. Woertz is an unknown commodity. The new chief executive of Archer Daniels Midland Co. of Decatur, Ill., grew up in Pittsburgh but has spent most of her career in California, rising through the ranks of Chevron Corp., one of the world's biggest oil companies. Now she hopes she can wring bigger profits from the agriculture behemoth, just as she did with oil. It's a big leap for ADM and for the 53-year-old divorced mother of three adult children.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | August 3, 2005
BEIJING - A leading Chinese oil producer abandoned yesterday its $18.5 billion bid to take over Unocal Corp., saying that a political backlash on Capitol Hill over China's growing appetite for oil dimmed the likelihood of concluding the deal. The announcement by CNOOC Ltd., a Hong Kong subsidiary of the China National Offshore Oil Corp., paves the way for Chevron Corp., the No. 2 U.S. oil and gas company, to proceed with its plan to take over the California oil company. The scuttling of CNOOC's bid for Unocal marked a setback for China, but is unlikely to halt attempts by cash-flush Chinese companies to bid on U.S. producers to expand global operations.
NEWS
By NEW YORK TIMES NEWS SERVICE | October 16, 2000
The Chevron Corp. agreed yesterday to acquire Texaco Inc. for about $36 billion, creating the world's fourth-largest oil concern. The companies' boards approved the deal, which is expected to be announced today, executives close to the transaction said. It comes during a period of high oil and gas prices and much political jostling in the United States and abroad to keep those prices in check. The acquisition will likely come under intense scrutiny by regulators, who could force the combined company to divest certain assets, especially in states like California where the company would dominate the retail gas station business.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | October 14, 2000
NEW YORK - Chevron Corp., the third-largest oil company in the United States, is close to an agreement to acquire Texaco Inc. for about $36 billion in stock plus the assumption of debt, according to executives close to the negotiations. Both boards are planning to meet over the weekend, and an announcement of the deal, which would create the fourth-largest oil concern in the world, could be made as early as Monday, the executives said. The deal would be the latest in a series of oil mergers that have created a new breed of "super-major" oil companies, which now include Exxon Mobil Corp.
BUSINESS
By Robert Manor and Robert Manor,CHICAGO TRIBUNE | April 5, 2005
ChevronTexaco Inc. said yesterday that it will buy Unocal Corp. for $16.4 billion, in a deal that industry analysts said is proof that buying oil is cheaper than discovering it. ChevronTexaco, the nation's second-largest oil company after Exxon Mobil Corp., has had limited success in finding new oil reserves in recent years. Analysts said the company's reserves - the petroleum it can count on producing in the future - were weak in comparison with those of other major players. "In one fell swoop, they reversed that trend," said Lysle Brinker, senior vice president of the oil research firm John S. Herold Inc. "What Unocal brings to the table is a lot of U.S. reserves and areas in Asia where the outlook for growth is quite favorable."
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