Texaco was the name of an
American oil company that has merged into
ChevronTexaco. It began as the Texas Fuel Company, founded in
1901 Beaumont, Texas. For many years, Texaco was the only company selling gasoline in all 50 states, but this is no longer true.
Major events:
- 1984 bought Getty Oil[?] (including Tidewater Petroleum[?]), the Getty name and stations in the Northeastern United States was sold to Power Test[?] and is still today.
- 1985 lost a major lawsuit to Pennzoil[?] over breach of contract.
- 1998 formed joint venture Equilon with Royal Dutch Shell, combining their Western and Midwestern U.S. refining and marketing.
- 1998 formed joint venture Motiva with Royal Dutch Shell and Saudi Aramco[?], a joint venture combining their Eastern and Gulf Coast U.S. refining and marketing businesses.
- 2001, Shell purchased Texaco's share of the joint ventures to permit Texaco to merge with Chevron. Shell may exclusively use the Texaco brand in the U.S. through 2004, and non-exclusively through 2006.
- 2001, Chevron merged with Texaco to became ChevronTexaco.