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EspañolUNOCAL CORPORATION
(Redirected from Unocal)
'Union Oil Company of California, dba Unocal' was incorporated in California in 1890. The company was formed by the merger of co-founders Lyman Stewart, Thomas Bard, and Wallace Hardison's holdings. Union Oil moved its headquarters to Los Angeles in 1901. The original headquarters in Santa Paula is a California Historical Landmark.
The company expanded to national status in 1965, when Union Oil merged with the Pure Oil Company, headquartered in Schaumburg, Illinois. Over the next two decades, Union became the major oil producer in southern Alaska and a major natural gas producer in the Gulf of Mexico. The company was reorganized in 1983 and Union Oil Company of California became an operating subsidiary of a new Delaware-based holding company, Unocal Corporation. However, virtually all operations are conducted by Union Oil Company of California (Union Oil).
In 1997, the company sold its western United States refining and marketing operations to Tosco Corporation, however, the rights to the Union 76 brand name were retained by Unocal. Tosco was later acquired by Phillips Petroleum who later merged with Conoco to form ConocoPhillips.
In April 2005, the company agreed to a merger with ChevronTexaco (now Chevron). The China National Offshore Oil Corporation (CNOOC) made a rival $18.5 billion bid, but they withdrew it after their interest in an American company became controversial.
Unocal has now ceased operations as an independent company.
'Union Oil Company of California, dba Unocal' was incorporated in California in 1890. The company was formed by the merger of co-founders Lyman Stewart, Thomas Bard, and Wallace Hardison's holdings. Union Oil moved its headquarters to Los Angeles in 1901. The original headquarters in Santa Paula is a California Historical Landmark.
The company expanded to national status in 1965, when Union Oil merged with the Pure Oil Company, headquartered in Schaumburg, Illinois. Over the next two decades, Union became the major oil producer in southern Alaska and a major natural gas producer in the Gulf of Mexico. The company was reorganized in 1983 and Union Oil Company of California became an operating subsidiary of a new Delaware-based holding company, Unocal Corporation. However, virtually all operations are conducted by Union Oil Company of California (Union Oil).
In 1997, the company sold its western United States refining and marketing operations to Tosco Corporation, however, the rights to the Union 76 brand name were retained by Unocal. Tosco was later acquired by Phillips Petroleum who later merged with Conoco to form ConocoPhillips.
In April 2005, the company agreed to a merger with ChevronTexaco (now Chevron). The China National Offshore Oil Corporation (CNOOC) made a rival $18.5 billion bid, but they withdrew it after their interest in an American company became controversial.
Unocal has now ceased operations as an independent company.
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