Ochs Oil Company

 

ChevronTexaco Announces Plans to Promote Texaco Retail Gasoline Brand in U.S.

 

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SAN FRANCISCO, Sept. 16, 2002 -- ChevronTexaco today announced that it plans to ensure the Texaco Star remains a fixture for America's motoring public. The company will begin selling gasoline under the Texaco retail brand July 1, 2004, following the expiration of exclusive licensing agreements with Equilon Enterprises, LLC and Motiva Enterprises, LLC, which currently hold the rights to the brand in the U.S. gasoline market.

"The Texaco brand has a worldwide reputation as a symbol of quality products and customer service, and it has been one of the most recognized brands in the U.S. for more than 90 years," said Dave Reeves, ChevronTexaco's president of North America Products. "We currently market Texaco branded motor fuel in Europe, West Africa, Latin America and the Caribbean. We also sell Texaco-branded lubricants and aviation fuels here in the U.S. and worldwide. Consequently, we eagerly look forward to also offering the Texaco gasoline brand to retailers and consumers in the United States."

Equilon and Motiva hold exclusive rights to use the Texaco brand for U.S. gasoline sales until July 1, 2004, and nonexclusive rights between that date and June 30, 2006. Exclusive rights to the Texaco gasoline brand in the U.S. will revert to ChevronTexaco on July 1, 2006. These licenses were included in the agreements to sell Texaco Inc.'s interests in Equilon and Motiva, a government requirement for the completion of last year's merger between Chevron and Texaco. In advance of today's announcement, ChevronTexaco notified the Federal Trade Commission, and various attorneys general in potentially affected states, of its plans.

"Chevron and Texaco are both premium quality brands, and together will position our company as a premier marketer of gasoline and lubricant products in the United States," added Reeves. "While we are not disclosing details of the brand rollout at this time, we wanted to reassure retailers and consumers as soon as possible about the Texaco brand's future. We will consider using the Texaco brand in areas where Chevron does not now market, and in areas where using both brands make sense for retailers, consumers and our business."

Reeves added the company will continue to market premium fuels and retail convenience goods and services through its Chevron brand. "With a credit card, advertising and high quality fuels and products," he said, "we believe that offering the Texaco brand in the future will continue to give retailers and consumers yet another choice that they know and trust