Wild speculation last week that Chevron was courting PhillipsPetroleum proved to be false as Phillips management told analyststhe company is not interested in merging with anybody. But theBartlesville, OK-based energy company is planning on selling GPMGas Corp., its natural-gas gathering, processing and marketingsubsidiary, and may form joint ventures with other companies onchemicals and refining and marketing so that it can concentratemainly on exploration and production.
Dropping
Articles from Dropping
Prices Sliding in Both February, March Markets
Maybe it was the urge to converge that had quotes droppingWednesday for both late-February and March bidweek deals. Theincremental softness remained on the mild side as a few pointsmanaged flat showings and most of the others were down by about anickel or less. Once again the bigger declines of 15 cents or morecame at Northeast citygates as they continued to retreat fromMonday’s cold weather-related price spikes.
February 25, 1999
Sources Expect Price Erosion Will Continue
Cash prices were dropping for the most part Wednesday as manyhad expected, and there’s no reason not to expect more softeningthrough the rest of the week, several sources said. They had plentyof evidence to back up their prediction: forecasts of moderatingheat in the South by the weekend, a falling futures screen and abearish AGA storage report exceeding 100 Bcf in injections.
June 4, 1998
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