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.
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Phillips to Stay Independent But Wants to Sell GPM
Wild speculation last week that Chevron was courting Phillips Petroleum proved to be false as Phillips management told analysts the company is not interested in marriage. The Bartlesville, OK-based major producer is, however, interested in selling GPM Gas Corp., its natural-gas gathering, processing and marketing subsidiary, and may form joint ventures with other companies on chemicals and refining and marketing so that it can concentrate mainly on exploration and production.
Report Richardson Misled Congress Is False
Senate Energy Committee Chairman Frank Murkowski (R-AK) onMonday cleared Energy Secretary in-waiting Bill Richardson ofallegations that he may have misled Congress when testifying duringhis confirmation hearing last month about a job offer he made toformer White House intern Monica S. Lewinsky.