[News Script: AP106] Page: 1 of 2
This script is part of the collection entitled: KXAS-NBC 5 News Collection and was provided to The Portal to Texas History by the UNT Libraries Special Collections.
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iM0'-IN HOUSTON COASTAL STATES GAS PRODUCING COMPANY SAYS
IT WILL ''VIGOROUSLY DEFEND'' A CONTRACT THE COMPANY HAS XITH TEXACO
OIL COMPANY AND WHICH THE JUSTICE DEPARTMENT SAYS VIOLATES
ANTI-TRUST LAWS.
THE JUSTICE DEl ARTMENT YESTERDAY FILED SUIT IN VASHINGTON AGAINST
TEXACO AND COASTAL STATES PETROCHEMICAL COMPANY, A WHDLLY OWNED
SUBSIDIARY OF COASTAL STATES, WHICH OPERATES A REFINERY IN CORPUS
CHRISTI.
THE GOVERNMENT CLAIMS IN ITS SUIT THAT AN AGREEMENT BETWEEN TEXACO
AND COASTAL STATES TO SELL REFINED PRODUCTS FROM THE REFINERY TO
TEXACO LESSENS COMPETITION BY FREEZING INDEPENDENT OIL MARKETEERS
OUT OF A SOURCE OF SUPPLY.
ROBERT WELLS, VICE PRESIDENT OF COASTAL STATES, SAID HIS COMPANY
HAS A FOUR-YEAR AGREEMENT WITH TEXACO TO SELL THE MAJOR OIL COMPANY
REFINED PRODUCTS.
WELLS SAID THAT WHILE TEXACO HAS AN OPTION TO SELL CRUDE OIL TO
COASTAL STATES' REFINERY, IT IS NOT CONDITI6NAL UPON "U GIVING
TEXACO FIRST CRACK AT REFINED PRODUCTS.
HE SAID COASTAL STATES VIEWS THE CONTRACTS WITH TE ACO AS FULLY
VALID AND PROPER ARRANGEMENTS.
07:3ACD 06-13-73
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WBAP-TV (Television station : Fort Worth, Tex.). [News Script: AP106], script, June 13, 1973, 8:25 a.m.; (https://texashistory.unt.edu/ark:/67531/metadc1901810/m1/1/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Special Collections.