Word: chevron
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Dates: during 1980-1989
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...pace of life is slow and local folks have plenty of time to chat. When he heads for work, Madison often stops for gas and gossip at the Chevron station in town. He makes his rounds in a four-wheel-drive pickup truck, his radio dial tuned to the country-and-western sound of station KRAI in nearby Craig, Colo. Duke, his big yellow dog of assorted heritage, accompanies him, riding in the back of the truck...
...clock Monday morning, then make one bet without seeing the chips of the others. The jackpot: Gulf Oil, the fifth-largest U.S. petroleum company and one of the ten biggest corporations. After seven hours the winner was announced: Standard Oil of California, best known for its Chevron gas stations, whose cash bid of $80 a share, or $13.2 billion, became the most ever paid for one American corporation by another. Said Socal Chairman George Keller, 60, after it was over: "It's more than I would have liked to have spent, but I was in a poker game...
...Nimeiri negotiated an end to 17 years of bloody civil war in 1972. Nimeiri has remained in power since then, staging three referendums that have overwhelmingly returned him to office. Residents of the southern part of the country, however, cite numerous grievances. They complain, for example, that when the Chevron Oil Co. discovered oil in the south, the government made plans to pipe it out of the territory rather than build a refinery on the spot, which would have generated jobs in the economically depressed region. In addition, some southerners fear that the Jonglei Canal, a huge project to divert...
...battle is still going in Arco's favor. The company increased its market share last year from 3.8% to 4.8%, pushing past Chevron into seventh place among the major refiners. Some of Arco's gains have come at the expense of independent dealers who depend on the majors for their gasoline. An owner of independent gas stations in Massachusetts claims that price competition from Arco and British Petroleum (brand name: BP) has forced him to sell gas below cost. Even at that, he says, his retail price of $1.07 per gal. is still 4? above the price charged...
...recently as October, the oil companies gauged the field's potential reserves at a conservative 100 million bbl. Since then, the projections have been rising quickly. Just last week a Chevron vice president declared that the new field could contain up to 300 million bbl. Other industry estimates put it as high as 500 million bbl., and one Government expert says the ultimate potential could be 1 billion bbl. Such heady forecasts have drillers scrambling. Texaco is already operating the Glomar Atlantic, a drillship, in the area, and Phillips has dispatched a rig from Africa's Ivory Coast...