Word: texaco
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...never operated at more than 60% of capacity, causing a substantial drain on Gulfs petrochemical earnings. Gulf also acquired for $455 million Kewanee Industries, a specialty chemical firm. In all, the company's 1977 capital spending came to $3 billion, much more than that of bigger companies such as Texaco and Mobil...
Last week the trustees voted to urge Phelps Dodge, a large U.S. mining firm, to leave South Africa, but turned down a similar resolution in Caltex, a subsidiary of the Texaco oil company...
Exxon expects to have a rig at the Baltimore Canyon in less than three weeks; within an additional 90 days, the company should drill the first well. Shell's Pacesetter II rig, now drilling in the Gulf of Mexico, will move to the Baltimore Canyon by mid-April. Texaco, Continental, Mobil, Gulf and Houston Oil & Minerals are also moving rigs to the area...
...also rather indirect, at least in the sense that the giant gas producers, which are also the big oil producers -Exxon, Texaco, Standard Oil of Indiana, Mobil and Gulf-struck an above-the-battle pose and rarely got down into the pit themselves. Said David Foster, executive vice president of the Natural Gas Supply Committee, the producer-sponsored lobby that operates on an annual budget of $500,000 to $750,000: "To attempt to lobby this issue on the concerns of the producers of natural gas is an impossibility. When it's your customers who are saying they...
...course, the announcer does not perform the simple arithmetic of multiplying that rate by the enormous quantities of gas the company sells each year. Were he to do this, he would discover that poor Texaco does alright for itself. It is number four on a Fortune 500 list that boasts eight oil companies in the top 15 American corporations. While the public may not have the pergallon rate precisely right, they are not far off by thinking the oil companies are more than solvent...