Texaco and Shell are reportedly close to striking a deal for Shell to acquire Texaco's share in their Motiva and Equilon joint ventures. That would clear the way for Chevron's planned acquisition of Texaco.
The Oil Price Information Service reported Tuesday that the deal must be made by today, Aug. 15, or else the Federal Trade Commission will put the Texaco joint venture interests into a liquidation trust.
Equilon and Motiva are joint ventures between Texaco, Shell, and Saudi Refining Co. Equilon Commercial Fuels markets diesel and unbranded gasoline in the West and Midwest to wholesalers, truckstops and consumer end users. Motiva Commercial offers a full range of diesel fuel and heating oil products at a network of terminals throughout the East Coast and Gulf Coast. Motiva Commercial also offers mobile fleet fueling through Shell Fueling Services LLC on the East Coast.
Chevron and Texaco announced last October a merger that will create the world’s fourth largest oil company, ChevronTexaco Corp.
OPIS says it is unknown what would happen to the Texaco brand name if the deal between Shell and Texaco goes through.
The Oil Price Information Service reported Tuesday that the deal must be made by today, Aug. 15, or else the Federal Trade Commission will put the Texaco joint venture interests into a liquidation trust.
Equilon and Motiva are joint ventures between Texaco, Shell, and Saudi Refining Co. Equilon Commercial Fuels markets diesel and unbranded gasoline in the West and Midwest to wholesalers, truckstops and consumer end users. Motiva Commercial offers a full range of diesel fuel and heating oil products at a network of terminals throughout the East Coast and Gulf Coast. Motiva Commercial also offers mobile fleet fueling through Shell Fueling Services LLC on the East Coast.
Chevron and Texaco announced last October a merger that will create the world’s fourth largest oil company, ChevronTexaco Corp.
OPIS says it is unknown what would happen to the Texaco brand name if the deal between Shell and Texaco goes through.
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