ExxonMobil sues to block ARCO-Phillips deal

04/03/2000
ExxonMobil Corp. has filed suit in a Los Angeles court to block the sale of ARCO's Alaska assets to Phillips Petroleum Co.ARCO and Phillips struck the $7 billion deal in mid-March (OGJ, Mar. 27, 2000, p. 32). But ExxonMobil has stepped forward, claiming that the deal violates contracts and agreements dating back to 1964 that were signed by several Alaska North Slope operators.Essentially, ExxonMobil is arguing that the ARCO-Phillips deal violates ExxonMobil's right of first refusal on the acquisition. It has filed an injunction against ARCO, Phillips, and BP Amoco PLC, with whom ARCO is planning to merge following the Alaska divestiture.ExxonMobil released a statement saying: "Agr...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected