NEW YORK -- ChevronTexaco Corp. is considering making an unsolicited bid for either Phillips Petroleum Co. or Conoco Inc. in an effort to thwart the proposed $17.1-billion merger between the two companies, The Wall Street Journal reported in its online edition this morning.

ChevronTexaco's board is slated to consider an offer at a meeting today, according to the report, which cited sources close to the company. As of last night, ChevronTexaco had not decided which of the two companies to pursue, the Journal reported. Meanwhile, TotalfinaElf Chairman and Chief Executive Officer Thierry Desmarest (pictured) today dampened further speculation his company would also pursue a bid.

WASHINGTON -- The U.S. Patent and Trademark Office ordered re-examination of a second of Unocal Corp.'s five patents on reformulated gasoline, which have drawn scrutiny from federal and state regulators, The Wall Street Journal reported in its online edition Tuesday.

The patent office said it is re-examining Unocal's 126 patent, awarded in 1998. Last year, it began a review of Unocal's first gasoline patent, 393, granted in 1994. The office typically initiates reviews of about 400 patents a year, a process that usually takes 12 to 18 months. By contrast, 187,000 patents were issued last year.

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