Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (65555)	6/27/2005 9:20:21 AM
From: Elroy Jetson	Read Replies (1) of 74559

Remember that 76 gas stations and refineries are owned by Conoco-Phillips petroleum, not Unocal. p66conoco76.conocophillips.com <In southern California, the Texaco facilities are close to the Chevron ones and close to the Unocal facilities.> I was surprised to learn, from someone on the Big Dog board, that this had happened after Unocal CEO Hartley had retired. Unocal gives Chevron more exploration and production employees, along with oil and gas reserves and projects in progress. But no overlap in facilities that I'm aware of. And Unocal doesn't have that many domestic assets. In the unlikely event Chevron gets dumped, they get $500 million walking money. But I'll be very surprised if they don't buy Unocal. They've done everything possible - except raise their bid. .

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