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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: Janaury 31, 1995
UNOCAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-8483 95-3825062
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1201 West Fifth Street, Los Angeles, California 90017
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (213) 977-7600
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ITEM 5. OTHER EVENTS
On January 31, 1995, the following news release was issued:
Los Angeles, January 31 -- Unocal Corporation today said it has been
granted a United States patent for reformulated gasolines that meet 1996
California state standards for reduced emissions. Furthermore, the company
plans to offer its patent for license.
The company said that Unocal's patent covers many of the possible fuel
compositions that refiners would find practical to manufacture and still
comply with the strict California Air Resources Board (CARB) Phase 2
requirements in 1996.
"Unocal intends to offer its patent for license in order to spread the
benefits of lower emissions from our patented fuel as widely as possible to
the industry and the public," said Roger C. Beach, Unocal chief executive
officer. "Our patent will pose no barriers to implementation of the CARB
Phase 2 regulations."
Because the 1996 CARB Phase 2 requirements impose a low Reid vapor
pressure (RVP), which is satisfied by Unocal's patented gasolines, Unocal
licensees would be utilizing the Unocal patent for up to eight months out
of the year. For the balance of the year, CARB regulations would allow
refiners to manufacture a higher RVP gasoline.
Unocal said it expects to have its licensing program for the new fuel
finalized by the end of April.
The Unocal patented gasoline was independently developed by Unocal
scientists who were seeking ways of complying with anticipated 1990 U.S.
Clean Air Act goals without moving to alternative fuels, particularly
methanol. The result was achieved -- new and non-obvious gasolines that
significantly reduce vehicle tailpipe emissions achieved by reformulation.
The company applied for a patent on its new gasoline in December 1990.
The U.S. Patent Office issued Unocal a patent on the fuel in February 1994.
Since then, Unocal has been reviewing and evaluating the scope of the
patent and has concluded it has potential license value.
The new reformulated gasolines are mandated by CARB's Phase 2
reformulated gasoline specifications, which were issued under authority of
the Federal Clean Air Act Amendments. The CARB regulations, first
published in October 1991, require that beginning March 1, 1996, all motor
gasoline manufactured for sale in California comply with the Phase 2
regulations. California consumes approximately 13 billion gallons of
gasoline per year.
"Our success in developing a gasoline that provides reduced tailpipe
emissions is another example of how the private sector can contribute to
improving the environment in California," Beach said.
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SIGNATURE
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
UNOCAL CORPORATION
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(Registrant)
Dated: January 31, 1995 By: CHARLES S. MCDOWELL
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Charles S. McDowell,
Vice President and Comptroller
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