Word: bp
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Dates: during 2000-2009
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Those with a soft spot for polysyllabic corporate monikers can rejoice - the BP Amoco-Arco deal is on again. When first announced late last year, the $30 billion merger raised eyebrows among federal regulators, who moved to block the deal in court. The big problem wasn't size - after all, Exxon and Mobil last year combined in an $80 billion deal. Rather, according to the Federal Trade Commission, it was the fact that the combined entity would own 70 percent of Alaska's oil fields, giving it a monopolistic hold on West Coast gasoline prices...
...clashes between riot troops and local workers. "If you want to empty a boardroom on Wall Street," quips an American investment banker in Moscow, "just say the word Russia." For too many foreigners, investing in Russia has proved to be tortuous and hugely expensive. Just ask the folks at BP Amoco. Last fall the company nearly saw its $484 million investment in Russian oil giant Sidanko all but disappear in a maze of Russian corporate shenanigans. In a complex scheme with a brutishly simple result, Sidanko's most prodigious subsidiary was declared bankrupt and sold for a song...
...site, Ecopledge.com, lists three companies--Coca-Cola, General Motors, and BP-Amoco--which are purported to be particularly unfriendly to ecological causes...
...BP-Amoco is being targeted for its attempt to drill for oil in the Arctic National Wildlife Refuge...
...irony is that BP Amoco-Arco would be less than half the size of Exxon Mobil. But the FTC voiced concerns that the move would stifle competition on the U.S.'s West Coast, with BP Amoco-Arco controlling 45 percent of the oil refined in California, Oregon and Washington. This won't be the last you hear about this - the heads of British-based BP Amoco and L.A.-based Arco have long said that they would fight regulators to the bitter...