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 | |
| Formerly | |
|---|---|
| Company type |
|
| Industry | Petroleum |
| Founded | 1902 (as Texas Fuel Company) in Beaumont, Texas, U.S.[1] |
| Founders | Joseph S. Cullinan Lewis Henry Lapham Arnold Schlaet |
| Fate | Acquired by Chevron Corporation in October 2001,[3] changed to "ChevronTexaco" until 2005, when it became a brand of it[2] |
| Headquarters | Texaco Headquarters, |
Number of locations | 2,000+ (2006)[4] |
Area served | Worldwide |
| Products | Gasoline, natural gas, motor oils, other petrochemicals |
| Brands | Havoline (1931–2001) |
| Owner | Chevron Corporation (2001–present) |
| Subsidiaries | Indian Oil Co. (1931–1943) |
| Website | texaco.com |
Texaco, Inc. ("The Texas Company") is an American oil brand owned and operated by Chevron Corporation.[5] Its flagship product is its fuel "Texaco with Techron". It also owned the Havoline motor oil brand. Texaco was an independent company until its refining operations merged into Chevron in 2001, at which time most of its station franchises were divested to Shell plc through its American division.
Texaco began as the "Texas Fuel Company", founded in 1902[6] in Beaumont, Texas, by Joseph S. Cullinan, Thomas J. Donoghue, and Arnold Schlaet upon the discovery of oil at Spindletop. The Texas Fuel Company was not set up to drill wells or to produce crude oil. To accomplish this, Cullinan organized the Producers Oil Company in 1902, as a group of investors affiliated with The Texas Fuel Company. Men such as John W. ("Bet A Million") Gates invested in "certificates of interest" to an amount of almost ninety thousand dollars.[7] Future restructuring would merge Producers Oil Company and The Texas Fuel Company as Texaco when the company needed additional funding, which J.W. Gates provided in the amount of approximately $590,000 in return for company stock.
Texaco was one of the Seven Sisters which dominated the global petroleum industry from the mid-1940s to the 1970s. Its current logo features a white star in a red circle (a reference to the lone star of Texas), leading to the long-running advertising jingles "You can trust your car to the man who wears the star" and "Star of the American Road."[citation needed] The company was headquartered in Harrison, New York, near White Plains, prior to the merger with Chevron.
Texaco gasoline comes with Techron, an additive developed by Chevron, as of 2005, replacing the previous CleanSystem3. The Texaco brand is strong in the U.S., Latin America, and West Africa. It has a presence in Europe as well; for example, it is a well-known retail brand in the UK, with around 980 Texaco-branded service stations.[8]
- ^ a b About The Texas Company on Texaco website
- ^ a b "Chevron Corp, Form 8-K, Current Report, Filing Date May 10, 2005" (PDF). secdatabase.com. Retrieved March 24, 2013.
- ^ Shareholders approval of Chevron-Texaco deal creates industry's lates behemoth by eorge Raine at SFGate
- ^ "History of Texaco - Texaco With Techron". Archived from the original on 2013-07-08. Retrieved 2015-10-20.
- ^ Chevron fuel brands and stations on Chevron website (retr. 2022-6-11)
- ^ Cite error: The named reference
:0was invoked but never defined (see the help page). - ^ Gish, Elton N. "HISTORY of THE TEXAS COMPANY And PORT ARTHUR WORKS Refinery". Retrieved 4 September 2018.
- ^ "Texaco UK Station Locator". texaco.co.uk. Retrieved 2023-02-02.
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