Word: chevrontexaco
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Other shareholders think they should spend more. ExxonMobil's older oil fields in North America are in natural decline, yet the company has not cranked up spending on newer fields abroad--while competitors like ChevronTexaco and ConocoPhillips have begun to do so. "I would love to see them make more investments, especially in some of the areas that have recently reopened, like Libya," says Ted Parrish, co-manager of the Henssler Equity fund, which counts ExxonMobil as its No. 1 holding. Other investors put it more bluntly: "Over time you may have to question whether they are being too disciplined...
...project,” Unocal said in a statement posted on its website. The company also stated that all workers on the pipeline project were voluntarily employed and compensated for their work and that no villages were relocated. On April 4, two weeks after Unocal announced the settlement, ChevronTexaco Corp.—the second-largest American oil company after ExxonMobil—revealed its plans to purchase Unocal for about $16.8 billion...
Some analysts expect ChevronTexaco will sell Unocal’s Burmese assets to avoid drawing calls for divestment, according to Reuters News Service...
...ChevronTexaco has drawn criticism from several activist groups for its own actions in the developing world. EarthRights International is suing the company for alleged human-rights violations in Nigeria though the firm denies responsibility...
...Harvard, BAM has also questioned the University’s investment in ChevronTexaco. At the end of 2004, Harvard owned 305,689 shares of the oil conglomerate’s stock, according to SEC filings...