Petroleum
The Agway Petroleum Corporation has reached an agreement with the U.S. Environmental Protection Agency (EPA) to spend $500,000 on two projects beneficial to the environment and pay $100,000 in fines for Community Right-To-Know violations at 150 of its New York facilities and 14 New Jersey facilities. The
Petroleum
Chevron Chairman Ken Derr emphasized the need for business leaders to be involved in efforts to reform the nation's regulatory and civil justice systems. He stated that unnecessary regulations waste valuable resources, stifling innovation and job growth. Derr highlighted the ballooning costs of regulatory and tort liabilities, which
Natural gas
Robert Strougo, a Mesa Inc. stockholder, has filed a suit in Texas state court against the company and eight directors to prevent them from taking action to prevent the sale of the company, adding to the pressure on Chairman T. Boone Pickens Jr. to sell or merge the company. Large
Petroleum industry
The Minnesota Corn Growers Association has approved a media campaign to promote the use of ethanol as a clean-burning additive to gasoline, in the face of increased lobbying and advertising efforts by major oil companies. The goal of the campaign is to educate Minnesotans about the benefits of ethanol and
Gas industry
Occidental Petroleum Corp., a multinational oil and gas company, has reached a tentative settlement with the U.S. Department of Energy (DOE) for $275 million. The settlement relates to OXY USA Inc.'s purchases and sales of crude oil between October 1979 and January 1981, prior to Occidental'
Gas industry
Senator Frank H. Murkowski, chairman of the Senate Energy and Natural Resources Committee, is facing criticism from environmentalists for his investments in oil and timber industries, including shares in Chevron Corp. owned by his mother, which he refuses to sell. The Alaska Coalition, comprising state environmental groups, claims that Murkowski&
Petroleum industry
Eugene G. Celentano, a seasoned executive with extensive experience in Latin America, has been elected Vice President of Texaco Inc., effective July 1, 1995. This promotion follows his significant contributions as President of the Latin America/West Africa (LA/WA) Division, where he oversaw operations in over 40 countries. Celentano&
Petroleum industry
Cathy B. Casella has been named manager of investor relations at The Coastal Corporation, with responsibility for all aspects of investor-relations support, including responding to analyst requests, arranging company presentations, and tracking institutional ownership of stock. Casella's duties will involve working closely with Stirling D. Pack Jr., senior
Gas industry
The Zapata Corporation, a leading energy company, has completed the sale of its natural gas reserves to Hunt Oil Company. As part of its strategic shift, Zapata's board of directors has authorized the repurchase of up to 7.5 million shares of the company's common stock.
Gas industry
Clinton Gas Systems Inc., a natural gas and oil exploration and production company, has reached an agreement with Columbia Gas Transmission Corp. to settle its bankruptcy claim against the latter. The settlement is expected to bring in approximately $5 million for Clinton Gas Systems Inc. The company plans to use
Petroleum industry
Reunion Resources Company, a Houston, Texas-based corporation engaged in oil and gas exploration and wine grape vineyard development, has undergone a significant shift in its shareholder landscape. Parkdale Holdings Corporation N.V. has sold 38% of the company's outstanding common stock to Chatwins Group Inc., a Pittsburgh-based manufacturing
Petroleum industry
Alberta Energy Company (AEC), a prominent oil and gas player, has announced the sale of its forest products division to West Fraser Timber Co. Ltd. for approximately $385 million. The sale marks the final step in AEC's strategic plan to focus on the oil and gas industry, aiming
