What is Texaco known for?
Texaco was founded in Beaumont, Texas as the Texas Fuel Company in 1902. In 1905, it established an operation in Antwerp, Belgium, under the name Continental Petroleum Company, which it acquired control of in 1913. The next year, Texaco moved to new offices in Houston on the corner of San Jacinto and Rusk.
When did Texaco become Texas Company?
Texaco Evolution. Acquiring California Petroleum Corporation in 1928 put Texaco in all 48 states. Organized it as Texas Company of California until 1941 when it became The Texas Company. In 1931 Texaco bought the Indian Refining Company, acquiring rights to the Havoline brand name.
Is Texaco owned by Chevron?
Its flagship product is its fuel "Texaco with Techron ". It also owns the Havoline motor oil brand. Texaco was an independent company until its refining operations merged into Chevron Corporation in 2001, at which time most of its station franchises were divested to the Shell Oil Company.
What is Texaco oil?
Texaco is associated with the Havoline brand of motor oil and other automotive products. It was one of the sponsors of NASCAR with many drivers, such as Davey Allison, Ernie Irvan, Dale Jarrett, Kenny Irwin Jr., Ricky Rudd, Jamie McMurray, Casey Mears, and Juan Pablo Montoya. Texaco recently sponsored the #42 Dodge driven by Montoya.
See more
How did Texaco get its name?
Texaco was born in Beaumont, Texas in 1902. Back then we called ourselves The Texas Company, but when a salesman saw the abbreviation "Texaco" in a telegram, it became our favorite nickname.
Does Chevron own Texaco?
In 2000, Chevron bought Texaco in a $45 billion deal which created the United States' second-largest oil company and the fourth-largest publicly traded oil company in the worlds.
Is Chevron and Texaco the same gas?
fuels and stations Chevron's three premium brands – Chevron®, Texaco® and Caltex®.
When did Texaco change its name?
May 1959Capitalizing on its strong brand identity, in May 1959 the Texas Company changed its name to Texaco, Incorporated. The brand-name Texaco-a shortened cable-address for the Texas Company-had been used as a lubricant product name as early as 1902.
What is biggest oil company in world?
#1 Saudi Arabian Oil Co. (Saudi Aramco) (Tadawul: 2222) Saudi Aramco is one of the largest companies in the world across all industries, as well as the largest global oil company by revenue.
Who has the best gas?
5 Best Quality Gas Stations Of 2022 | [Full Guide] To Top Tier...#1. Editor's Pick: Chevron.#2. Costco.#3. Shell.#4. Exxon.#5. Mobil.#6. Texaco.#7. BP.#8. Marathon.
Which gas is better Chevron or Texaco?
Chevron claims gasoline with Techron can boost your miles per gallon. Techron.com says in big, bold letters: "IT'S PROVEN. No gas gets better mileage than Chevron with Techron or Texaco with Techron."
Does Shell gas clean your engine?
Shell Gasoline contains a patented cleaning system that actively cleans intake valves and fuel injectors and protects against future build up. No other gasoline protects better against gunk!
Is Texaco owned by Shell?
Texaco was an independent company until its refining operations merged into Chevron, at which time most of its station franchises were divested to Shell plc through its American division.
Who owns largest oil company?
Big Oil: The Largest Oil and Gas Companies by Market CapRankCompanyCountry1Saudi AramcoSaudi Arabia2ExxonMobilU.S.3ChevronU.S.4ShellNetherlands6 more rows•Oct 25, 2021
Is Texaco fuel good quality?
Texaco's Diesel and Premium Unleaded 95 are high quality fuels that have been designed to help keep your car's engine running smoothly.
Why did Texaco go out of business?
In 1984, Texaco agreed to purchase Getty Oil, snatching the company away from rival Pennzoil and setting the stage for a legal battle that ended up with Texaco filing for bankruptcy and owing Pennzoil billions of dollars in damages.
When did Chevron buy out Texaco?
Chairman Timothy J. Muris recused himself from the vote. San Francisco-based Chevron agreed to buy Texaco in October 2000 in a stock deal valued about $39.3 billion, plus the assumption of about $6 billion in debt. Under the terms of the deal, Chevron will be renamed ChevronTexaco Corp.
Who is Chevron owned by?
Chevron CorporationChevron's recently-sold headquarters complex in San Ramon, CaliforniaTotal assetsUS$239.54 billion (2021)Total equityUS$139.94 billion (2021)Number of employees42,595 (March 2021)ParentStandard Oil Co. (1900–1911)18 more rows
Who bought out Texaco gas?
Chevron CorporationIn October 2000, Chevron Corporation agreed to buy Texaco for $ 36 billion. The merger was completed October 9, 2001.
Why did Chevron buy Texaco?
Texaco brings considerable potential for oil and gas production to Chevron, already a force on the world stage. And since 1936, the two have operated the Caltex refining venture in Asia, Africa and the Mideast.
Where is Texaco located?
Texaco was founded in Beaumont, Texas as the "Texas Fuel Company" in 1902, by Jim Hogg, Joseph S. Cullinan, John Warne Gates, and Arnold Schlaet. On 1 May 1902, the Texas Company was formed from the assets of Texas Fuel assets, and additional capitalization. In 1905, it established an operation in Antwerp, Belgium, under the name Continental Petroleum Company, which it acquired control of in 1913. In 1915, Texaco moved to new 13 story offices on 1111 Rusk St., Houston, Texas. In 1928, Texaco became the first U.S. oil company to sell its gasoline nationwide under one single brand name in all 48 states.
What is Texaco fuel?
Texaco, Inc. ("The Texa s Co mpany") is an American oil brand of the Chevron Corporation. 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 Corporation in 2001, at which time most of its station franchises were divested to the Shell Oil Company. It began as the "Texas Fuel Company", founded in 1902 in Beaumont, Texas, by Joseph S. Cullinan, Thomas J. Donoghue, Walter Benona Sharp, and Arnold Schlaet upon the discovery of oil at Spindletop .
What additives did Texaco use to make their gasoline?
In 1954, the company added the detergent additive Petrox to its "Sky Chief" gasoline, which was also souped up with higher octane to meet the antiknock needs of new cars with high-compression engines. The next year, Texaco became the sole sponsor of The Huntley-Brinkley Report on NBC-TV.
What is a super octane gas?
The next year, Texaco introduced Fire Chief gasoline nationwide, a so-called "super-octane" motor fuel touted as meeting or exceeding government standards for gasoline for fire engines and other emergency vehicles. It was promoted through a radio program over NBC hosted by Ed Wynn, called the Texaco Fire Chief .
When did Texaco buy Indian oil?
In 1931 , Texaco purchased Indian Oil Company, based in Illinois. This expanded Texaco's refining and marketing base in the Midwest and also gave Texaco the rights to Indian's Havoline motor oil, which became a Texaco product.
When did Texaco start using Sky Chief?
1939 Texaco tanker truck by Dodge on display at the Henry Ford Museum. In 1938 , Texaco introduced Sky Chief gasoline, a premium fuel developed from the ground up as a high-octane gasoline rather than just an ethylized regular product.
Where is Texaco gasoline made?
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.
Search the web
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand. Texaco was an independent company until its refining operations merged into Chevron Corporation in 2001, at which time most of its station franchises were divested to the Shell Oil Company.
A Member Of The STANDS4 Network
Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!
TEXACO stands for The Texas Company
This definition appears frequently and is found in the following Acronym Finder categories:
Samples in periodicals archive
NEC Business Network Solutions, the Texas company overseeing e-Rate, paid more than $20 million in penalties after it was shown the program was rife with malfeasance.
When was Texaco bought?
This company was purchased in 1901 shortly after the inception of Texaco.
Who owns Texaco refining?
In 1988 Texaco and Saudi Refining agreed to form a joint venture known as Star Enterprise in which Saudi Refining would own a 50 percent share of Texaco's refining and marketing operations in the eastern United States and Gulf Coast
When did Texaco merge with Jefferson Chemical?
Texaco later bought out American Cyanamid's interest in this venture and then merged it with its newly formed Texaco Chemical Company in 1980 .
When did Shell and Texaco merge?
In 1997 Shell and Texaco merged their marketing and refining operations in the eastern United States and Gulf Coast . The operations in the western and midwestern United States were merged into a company called Equilon. The Star Enterprise operation and Shell's eastern and southeastern operations were merged into a company called Motiva. After Chevron Texaco merger in 2001 Shell and Saudi Refining bought Texaco's interests in the joint ventures.
When did Paragon Oil Company become Texaco?
In 1959 the McColl Frontenac brand was replaced with Texaco. Paragon Oil Company was established by Henry Irvin, Robert Benjamin, and Arnold Schwartz in New York City early in the twentieth century. They mainly distributed fuel oil in the northeastern United States. Paragon was sold to Texaco in 1959.
When did Texas acquire California?
Acquiring California Petroleum Corporation in 1928 put Texaco in all 48 states. Organized it as Texas Company of California until 1941 when it became The Texas Company.
Who bought Tosco?
Tosco was purchased in 2001 by Phillips Petroleum, which, in 2002, merged with Conoco to form ConocoPhillips. In 2003, Circle K was purchased by Alimentation Couche-Tard, a large, multinational convenience store operator based in the Montreal area, for US$803 million.
Who sold Tiendas Extra?
On February 10, 2014, Modelo Group Sold the Tiendas Extra brand of stores to the Mexican franchise of Circle K, Circulo K. A Circle K with an Exxon fuel station in North Richland Hills, Texas. On December 18, 2014, Couche-Tard announced its acquisition of The Pantry for $860 million all-cash tender.
Overview
Sponsorships
Texaco is associated with the Havoline brand of motor oil and other automotive products. It was one of the sponsors of NASCAR with many drivers, such as Davey Allison, Ernie Irvan, Dale Jarrett, Kenny Irwin Jr., Ricky Rudd, Jamie McMurray, Casey Mears, and Juan Pablo Montoya. Texaco recently sponsored the #42 Dodge driven by Montoya. Havoline continuously sponsored a car fro…
History
Texaco was founded in Beaumont, Texas as the "Texas Fuel Company" in 1902, by Jim Hogg, Joseph S. Cullinan, John Warne Gates, and Arnold Schlaet. On 1 May 1902, the Texas Company was formed from the assets of Texas Fuel assets, and additional capitalization. In 1905, it established an operation in Antwerp, Belgium, under the name Continental Petroleum Company, which it a…
Corporate headquarters
Prior to the merger with Chevron, Texaco's headquarters was a 750,000-square-foot (70,000 m ) building in Harrison, in Westchester County, New York, near to White Plains. In 2002, Chevron Corporation sold the former Texaco headquarters to Morgan Stanley. Morgan Stanley bought the building and the surrounding 107 acres (0.43 km ) for $42 million.
Texaco leased 14 floors of the Chrysler Building in Midtown Manhattan, New York City in the 1930…
In popular culture
A Texaco station at 6407 West Sunset Boulevard in Los Angeles, California was used in the opening scene of Cheech & Chong's Next Movie, where the main characters Cheech and Chong siphon gasoline from a tow truck. A Jack in the Box now stands at that location.
In Back to the Future and Back to the Future Part II, a Texaco station in the center of Hill Valley is shown in 1955, 1985, and 2015.
Environmental issues
From 1965–1993, Texaco participated in a consortium to develop the Lago Agrio oil field in Ecuador. It has been accused of extensive environmental damage from these operations, and faces legal claims from both private plaintiffs and the government of Ecuador. The case has been widely publicized by environmental activists and is the subject of Crude, a 2009 documentary film by Joe Berlinger. Chevron claims that it is being unfairly targeted as a deep pocket defendant, wh…
Diversification
The NiMH chemistry used in modern hybrid vehicles was invented by ECD Ovonics founder, Stan Ovshinsky, and Dr. Masahiko Oshitani of the Yuasa Company In 1994, General Motors acquired a controlling interest in Ovonics's battery development and manufacturing. On October 10, 2001, Texaco purchased GM's share in GM Ovonics, and Chevron completed its acquisition of Texaco six days later. In 2003, Texaco Ovonics Battery Systems was restructured into Cobasys, a 50/50 join…
See also
• Chevron Corporation
• Caltex – joint venture between Texaco and Chevron, now a major international brand name of Chevron Corporation
• Cobasys