The lawsuit by Sue Ann Arnall alleges the $4.5 million sale in 2005 of the parent company and sole shareholder of Jolette Oil to Continental Resources was below market value. It asks for damages in excess of $10,000.
Speaking at the company’s sprawling Channelview complex where LyondellBasell will start up 250 million pounds of new ethylene capacity near the end of September, Patel said an announcement likely will come later this year on adding more production of polyethylene, which is the most common type of plastic.
The report from the liberal Center for American Progress is the first to broadly examine the environmental consequences of a big shift in U.S. oil trade policy, coming as Congress nears a vote on whether to lift the 1970s-era ban.
Chevron spokesman Chris Merrifield said in an email to NOLA.com/The Times-Picayune the company has started to reduce the workforce at its Covington office, but he was “not in a position to provide detail” on the severity of the cuts.
Fears that China’s economy may be sputtering and signals that global production is on the rise have driven oil lower for the past seven weeks, and barring a large recovery Friday, soon to be eight weeks.
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