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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.
Mar 10, 2020 · Can't make heads or tails of your insurance statement? Check this list of abbreviations for health and automobile insurance claims, policies, and providers.
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- Early Beginnings at The Start of The Century
- Continued Growth and Production Expansion: 1910 to The 1920s
- International Expansion Beginning in The 1930s
- Aggressive Expansion During The 1950s and 1960s
- Problems in The 1970s
- The Getty Purchase: 1984
- Restructuring and Focusing on Exploration and Production: Early to Middle 1990s
- Facing Problems During The Late 1990s
- Changes For The New Millennium
- Principal Subsidiaries
Texaco was founded during the early boom years of the Texas oil industry. In 1901, a gusher at the Spindletop oil field sent hundreds of entrepreneurs into Beaumont, Texas. Among them was Joseph S. “Buckskin Joe” Cullinan, an oilman who had begun his career working for Standard Oil Company in Pennsylvania. The Spindletop wells led to the rapid esta...
At the time of Texaco’s founding, oil was used primarily for lighting and as fuel for factories and locomotives. Texaco met this demand with its first consumer product, Familylite Illuminating Oil, introduced in 1907. After 1910, however, the automobile revolutionized the oil industry. Demand for gasoline, formerly considered a waste by-product of ...
While The Texas Corporation promoted its products and services at home, it undertook vigorous expansion abroad. During the 1930s it began exploration and production in Colombia and Venezuela. In 1936, it joined with the Standard Oil Company of California to create the Caltex group of companies, a 50-50 venture in the Middle East. The Caltex group c...
During the 1950s and 1960s, Texaco concentrated on expanding its global refining and marketing operations. The acquisition of the Trinidad Oil Company in 1956 and the Seaboard Oil Company in 1958, both of which held proven reserves in South America, expanded its interests in the Western Hemisphere. To increase its production in the Amazon Basin, th...
Texaco’s tremendous growth came to an abrupt halt in the 1970s. The Arab-Israeli War, the OPEC embargo, and the nationalization of foreign oil assets in many overseas nations cut Texaco’s profit margins and endangered its sources of crude. Furthermore, federal price controls and mandatory allocation regulations restricted Texaco’s ability to raise ...
In the middle of this comeback, Texaco became involved in a legal battle. The 1984 purchase of the Getty Oil Company had promised to speed Texaco’s recovery by adding an estimated 1.9 billion barrels of proven reserves to its assets. Pennzoil Company filed suit, however, claiming that Texaco had interfered with its plans to acquire three-sevenths o...
Starting in 1993, DeCrane guided Texaco through yet another restructuring intended to improve its competitiveness. Like almost every other U.S. oil company going through restructuring at the time, Texaco reduced its workforce. A cut of 2,500 workers, or 8 percent, over a one-year period contributed to a $200 million reduction in overhead in 1994. D...
Amidst the positive changes occurring at Texaco, the firm fell subject to negative publicity in late 1996, when a tape recorded by a Texaco executive surfaced that caught corporate officials making racial slurs and planning to destroy documents related to a discrimination suit brought against the firm in 1994. Eleven days after the tape became publ...
Texaco entered the new millennium focused on remaining a strong leader in the industry. As part of its growth strategy, the firm partnered with Tyumen Oil Company to market lubricants in open stores in Russia and Ukraine. The firm also purchased an interest in Prista Oil A.D., a Bulgarian-based lubricant company, and secured a lubricant supply agre...
Caltex Petroleum Corp. (50%); Equilon Enterprises LLC (44%); Four Star Oil & Gas Co.; Hydro-Texaco Holdings; Motiva Enterprises LLC (31%); Saudi Arabian Texaco Inc.; Star Enterprise (50%); TEPI Holdings Inc.; Texaco Cogeneration Co.; Texaco Exploration & Production Inc.; Texaco International Trader Inc.; Texaco Overseas Holdings Inc.; Texaco Pipeli...
Company History: Texaco is one of the world's largest oil companies, with exploratory, manufacturing, and marketing operations across the globe. Its primary petroleum-based products include automotive gasoline and oils, as well as aviation and heating fuels.
- 704 S State Rd 135 Suite D #421, Greenwood, 46143, IN
- (317) 534-6800
- Premiums. When you purchase an insurance policy, you'll be required to make regular payments, known as premiums. These payments are typically made monthly or annually and are the cost of maintaining your insurance coverage.
- Deductible. Think of a deductible as the money you have to shell out from your own pocket before your insurance kicks in to help cover your expenses. It's like the upfront cost you need to cover before your insurance really starts working for you.For example, if you have a $500 deductible and make a claim for $1,000, you'll need to pay $500, and your insurer will cover the remaining $500.
- Policyholder. The policyholder is the person who owns an insurance policy. This individual is responsible for paying premiums and making claims under the policy.
- Coverage Limit. Every insurance policy has a coverage limit, which is the maximum amount your insurer will pay out for a covered claim. It's crucial to understand your policy's limits to ensure you have adequate coverage.
Insurance abbreviations refer to shortened form of words or phrases that are commonly used in insurance or reinsurance industry. As we all know, insurance is a critical component of modern life, providing financial protection against various risks.
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Oct 5, 2024 · In this comprehensive resource, we will provide you with a clear understanding of the most frequently used insurance acronyms, ensuring you can confidently navigate the complexities of the insurance landscape. Whether it’s deciphering terms like PPO, HMO, or COBRA, our guidebook covers all the key topics you need to know.
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