Caltex

Last updated

Caltex
Formerly
  • California Texas Oil Company Limited
    (1936–1968)
  • Caltex Petroleum Corporation
    (1968–1998)
  • Caltex Corporation
    (1999–2001)
Company type Joint venture (until 2001)
Brand (2001-present)
Industry Petroleum
Founded30 June 1936;87 years ago (1936-06-30)
Headquarters Singapore (operational)
Area served
Products Oil, fuel
Parent Chevron Corporation
Website www.caltex.com

Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa. [1] Headquartered in Singapore, it is also the brand name of non-Chevron petroleum companies in some countries (such as New Zealand, and previously Australia and South Africa) under a trademark licensing agreement with Chevron.

Contents

Caltex was also the name of the joint venture between Chevron and Texaco which used the Caltex brand name in its operations, until both parent companies merged in 2001 to form ChevronTexaco (later renamed simply to Chevron in 2005). The joint venture was created on 30 June 1936 as California Texas Oil Company Limited, when the two parent companies were still known as Standard Oil of California and The Texas Company respectively. The joint venture officially adopted the name Caltex shortened from its original name in 1968, and was eventually known as Caltex Corporation prior to the Chevron-Texaco merger. After the merger, the former joint venture became a wholly-owned subsidiary of the merged company and changed its corporate name to ChevronTexaco Global Energy Inc, now Chevron Global Energy Inc.

History

Caltex's first logo Caltex logo.png
Caltex’s first logo
Caltex home lubricant Caltex.jpg
Caltex home lubricant
A former sign showing gasoline grades sold by Caltex. PulilanBulacanjf8839 08.JPG
A former sign showing gasoline grades sold by Caltex.

Caltex timeline: [1] [2]

Operations

As of 2015, the Caltex brand name is used in 29 countries in the Eastern Hemisphere. [1]

Australia

1941 to 2022

Texas Company (later Texaco) products were first sold in Australia in 1900. Texas Company (Australasia) Limited was incorporated in New South Wales in 1918, with operations across Australia and New Zealand. [10] The Caltex brand name began to be used for the first time in Australia when Texas Company (Australasia) Limited changed its name to Caltex Limited five years later on 2 January 1941. [11] [12]

Until 1995, Caltex Australia Limited operated though its subsidiary Caltex Oil (Australia) Pty Ltd. During this time, Caltex Australia also acquired Golden Fleece in 1981. [13] It also floated 25% of its shares to the Australian public the same year, the first multinational oil company to do so in Australia. [14]

In May 1995, Caltex Oil (Australia) Pty Ltd was merged with its rival Ampol Limited to form Australian Petroleum Pty Ltd, owned equally by Caltex Australia Limited and Ampol's parent Pioneer International. [15] The Caltex brand was also planned to be retired and replaced by Ampol, but this never eventuated. [16] In 1997, Pioneer planned to leave the petroleum industry and sold its 50% share of Australian Petroleum to Caltex Australia, allowing the latter to acquire full ownership and renaming the company to Caltex Petroleum Australia Limited. [17] [10] In exchange, Pioneer received 90 million Caltex Australia shares (33.33% stake), which it later sold through public offering. [18] [17] This resulted in shareholding changes in Caltex Australia, which became 50% owned by Caltex Corporation (and later Chevron Global) and 50% by Australian shareholders.

In 2015, Chevron sold its 50 per cent stake in Caltex Australia (the deal valuing the company at AU$9.24 billion), but allowing Caltex Australia to continue using the Caltex brand. In December 2019, Caltex announced that Chevron had given notice to terminate the licence agreement for the use of the Caltex brand in Australia, effective from 30 June 2020. Caltex Australia was renamed Ampol Limited during the annual general meeting in May 2020. [19] Ampol would have to cease using the licensed Caltex trademarks thirty months ("work-out period") after the termination of the trademark licence agreement (30 June 2020). [20] [21] The first part of the work-out period was an 18-month "exclusivity period" where Ampol had exclusive rights to use the Caltex brand until 31 December 2021. The remaining twelve months until 31 December 2022 were the "non-exclusivity period", where both Chevron and Ampol could use the Caltex brand at the same time. After this date, Ampol would no longer be authorised to use the Caltex brand. This meant the rebranding to Ampol had to be completed by 31 December 2022. [22] [23]

Since 2022

Puma Truganina November 2022 4.jpg
November 2022
Caltex Truganina January 2023 7.jpg
January 2023
Caltex station in Melbourne, Australia before (left) and after (right) rebranding

In November 2019, Chevron announced it would re-enter the Australian downstream market with the acquisition of Puma Energy's Australian operations via its subsidiary Chevron Australia Downstream, with the acquisition completed in July 2020. [24]

In early 2022, after the Caltex brand was no longer exclusive to Ampol (non-exclusivity period), Chevron began to relaunch Caltex in Australia with the opening of new Caltex stations or rebranding from existing Puma service stations. [22] The relaunched Caltex uses Techron in line with other Chevron Corporation and Caltex stations globally. The Caltex brand is solely used by Chevron Australia since 2023.

In early 2023, 17 Puma stations in the Northern Territory and northern Western Australia were sold to South Australian-based OTR, with Caltex fuel to be supplied at these stations. [25] [26]

Early in 2024, Chevron finalised an agreement to purchase most of Viva Energy's Coles Express-branded outlets in South Australia.[ citation needed ] This followed a Viva undertaking made to the Australian Competition and Consumer Commission to dispose of 25 Coles Express outlets in South Australia as part of Viva's acquisition of the OTR stores from Peregrine Corporation. In exchange, Viva would receive 13 Chevron sites located in Queensland, New South Wales and Western Australia. [27]

Cambodia

Texaco marketed lubricants began to be sold in Cambodia in 1924. Caltex Cambodia Limited was incorporated in 1995, with the first service station opened in Pochentong, Phnom Penh in 1996. The first Star Mart store in Cambodia opened the following year in 1997. The company changed its name to Chevron (Cambodia) Limited in 2008, with the Caltex brand still remaining in use. [6]

Hong Kong

In October 2005, Caltex Oil Hong Kong Limited changed its name to Chevron Hong Kong Limited. [28]

As of November 2022, there are 32 Caltex stations across the territory. [29]

India

Caltex had a subsidiary in India in the early 1940s through the early 1980s, however as state owned corporation Indian Oil came in to market, strategically Caltex decided to reduce its operation in India. In State of Gujarat there were 2 major dealers of Caltex, T.C. Brothers Company (Saurashtra region) & MS. N. K. Sheth Co. CEO of T.C. Brothers Co, was Mr. Tribhovandas D Parekh (also known as Mr. Pampu-sheth ) & Chairman was Mr. Cuhnilal D Parekh. T. C. Brothers company dealt in Petrolium products, service station for automobiles, paint, tiles, pipes, cements and transportation of oil, kerosene, gasoline/petrol in state of Gujarat. In 2010, Caltex started trading under the name GS Caltex India, a subsidiary of Caltex's Korean joint venture GS Caltex. [30]

Malaysia

Caltex station at Ayer Keroh Rest Area (Southbound), Melaka. Ayer Keroh Rest Area (Southbound) - Caltex Oil Station.jpg
Caltex station at Ayer Keroh Rest Area (Southbound), Melaka.

There are around 420 Caltex stations across Peninsular Malaysia and three 3 terminals in Pulau Indah, Prai and a joint-venture in Pasir Gudang. [31]

Caltex Oil Malaysia Limited changed its name to Chevron Malaysia Limited in 2005. [1]

New Zealand

Caltex first started in New Zealand as the Star Oil Company in 1920, which was registered and established to import and distribute fuel oils from the USA under the Texaco brand. Lubricating products were handled by the Texas Company Australasia Limited (i.e. predecessor of Caltex Australia) while refined products such as petrol and kerosene were distributed by Star Oil Company under agreement with the Texas Company. [4] Service stations seling Texaco fuel began in the early 1930s. When Caltex was established globally in 1936, Texaco signage was changed at service stations to the new name. However, it was not until 12 January 1945 when Caltex Oil (N.Z.) Limited was registered and incorporated. [4] [32] [33]

New Zealand was the first country where Caltex sold Boron fuel, which had been sold in the country for two years under the name Texol. The success in New Zealand allowed Caltex to sign up rights to sell Boron in other markets worldwide. It remained Caltex's fuel brand globally until it was phased out in the 1980s. [4]

In November 1996, Caltex Oil (N.Z.) Limited changed its name to Caltex New Zealand Limited. [32] [33] In 1999, the first ever non-service station (stand-alone) Star Mart store in New Zealand opened in Wellington. At the beginning of 2006, there were 20 stand-alone Star Marts throughout the country. [4] In 2009, the stand-alone stores were sold off and rebranded as Fix; [34] [35] [36] remaining Fix stores were rebranded as Night 'n Day in 2017. [37] [38]

In May 2006, Caltex New Zealand Limited announced it would change its name to Chevron New Zealand, in line with its parent company. [39] In June 2016, Chevron New Zealand was acquired by Z Energy and became a subsidiary known as Z Energy 2015 Limited. [32] [33] The Caltex-branded retail network would remain independently owned and operated, with operators setting their own retail fuel prices. [40] Z would supply wholesale fuel to the network. The Caltex brand in New Zealand would also continue to be used by Z under a five-year licensing agreement with Chevron International. The licensing agreement was renewed in March 2022 for Z to use the Caltex brand for another five years. [41]

As of November 2022, there are more than 140 Caltex branded service stations and 70 truck stops around New Zealand. [42]

Pakistan

In 2015, Total Parco announced that it would acquire and rename Caltex petrol pumps in Pakistan by an investment between US$200 million and US$250 million. [43]

Philippines

Caltex station seen on the side, as the Imperial Japanese Army captures Manila in WW2 (1942) Imperial Japanese Army Enters Manila on Motorcycles (1942).jpg
Caltex station seen on the side, as the Imperial Japanese Army captures Manila in WW2 (1942)
Caltex service station with Chowking in Quezon City, Philippines Caltexjf2.JPG
Caltex service station with Chowking in Quezon City, Philippines

Caltex was established in the Philippines in 1917 when Texas Company began marketing its products in the Philippines through a local distributor, Wise and Co. In 1921, Texaco (Philippines) was formally established and opened its office in Binondo, Manila. Eleven years later, its Pandacan oil depot was converted into a key distribution terminal to bring products by barge to nearby provinces. [7]

Caltex has nearly 600 stores in the Philippines. [44]

Singapore

Caltex began in Singapore when Texas Company (China) Ltd was established in the then-British colony in 1933. It was renamed Caltex in the 1950s. [45] In 1979, Caltex acquired a one-third interest in Singapore Refining Co. Pte. Ltd. (SRC) (the balance held by BP and Singapore Petroleum Company), which operates a 285,000 barrels per day (45,300 m3/d) refinery in Singapore. Caltex’s interest in SRC was increased to 50 percent in 2004. [45]

In 1999, Caltex moved its operating headquarters to Singapore from Dallas. [45]

As of November 2022, there are 25 Caltex stations across the country. [46]

South Africa and Botswana

Chevron Oil Refinery (previously known as the Caltex Refinery) in Cape Town, South Africa Chevron Oil Refinery 017.JPG
Chevron Oil Refinery (previously known as the Caltex Refinery) in Cape Town, South Africa

Chevron South Africa (CSA), who operated the Caltex brand in the country and neighbouring country of Botswana, was acquired by Glencore and Off the Shelf Investments (OTS) in September 2018 and was rebranded as Astron Energy. [47] Astron Energy then continued to operate the Caltex brand under a license agreement with Chevron. [48] The 850 Caltex service stations in South Africa and Botswana began to be rebranded as Astron in September 2022. [49] [50]

Glenore owns 72% of Astron Energy South Africa, with the remaining 28% held by Off The Shelf Investments (OTS) (23%) and employees (5%). Glencore owns 100% of Astron Energy Botswana. [51]

Astron Energy and previously CSA owns a refinery in Milnerton, north of Cape Town, which has a production capacity of 100,000 barrels per day and produces a range of petrochemical products which include petrol, diesel, jet fuel, liquefied petroleum gas, fuel oil and paving asphalt. The company also has a lubricants manufacturing plant and laboratory in Durban. [52] Prior to the rebranding, a quarter of Caltex's service stations were located in South Africa, making it one of the country's top five petroleum brands.[ citation needed ]

Caltex had been criticized frequently.[ clarification needed ] [53]

South Korea

GS Caltex is Caltex's joint venture with GS Group (previously split off from LG Corporation) in South Korea. It was founded in May 1967 as the first private oil company in Korea. [54] [55]

Taiwan

Some Asian operations[ which? ] are run by Caltex (Asia) Limited, based in Taipei.[ citation needed ]

Media

In the 1955 movie Godzilla Raids Again , the truck that the convicts escape in has the Caltex livery on the side.[ citation needed ]

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References

  1. 1 2 3 4 "About us - Who we are - Our journey". Caltex Singapore. Retrieved 22 September 2022.
  2. ↑ Caltex (17 April 1999). "Caltex timeline". Timeline. Archived from the original on 5 October 2000. Retrieved 7 December 2018.
  3. ↑ "Chevron Corporation 1998 Annual Report" (PDF). annualreports.com. Chevron Corporation. 1998. p. 21. Retrieved 17 November 2022.
  4. 1 2 3 4 5 "History". Caltex New Zealand. Archived from the original on 3 May 2007.
  5. ↑ "Full Financial Report 2001" (PDF). annualreports.com. Caltex Australia. 2001. p. 39. Retrieved 17 November 2022.
  6. 1 2 "Camobdia". Chevron Corporation. Retrieved 19 November 2022.
  7. 1 2 "Caltex in Philippines". Caltex Official Website. Archived from the original on 31 August 2012. Retrieved 12 November 2012.
  8. ↑ "Caltex launches better petrol". news24. 23 May 2006. Retrieved 19 November 2006.
  9. ↑ "Chevron Launches New Caltex Petrol with Techron® Designed to Clean and Protect Engines". Caltex. 14 March 2006. Archived from the original on 10 February 2007.
  10. 1 2 "History". Ampol Singapore. Archived from the original on 26 June 2018. Retrieved 6 March 2020.
  11. ↑ "2009 Annual Review". Caltex Australia. Retrieved 6 March 2020.
  12. ↑ "Texaco in the 1930s – the USA vs NZ". Project Texaco Tanker. 11 April 2021. Retrieved 19 November 2022.
  13. ↑ Caltex absorbs Golden Fleece Canberra Times 16 March 1981 page 6
  14. ↑ "Historical milestones". Caltex Australia. Archived from the original on 10 March 2005.
  15. ↑ $3bn oil merger full steam ahead Canberra Times 29 March 1995 page 27
  16. ↑ "Ampol $6bn merger puts Pioneer on the prowl". Australian Financial Review. 15 December 1994. Retrieved 25 October 2022.
  17. 1 2 "Pioneer's unrefined exit". Australian Financial Review. 3 October 1997.
  18. ↑ "A petroleum Pioneer opts to take stock". Australian Financial Review. 3 March 1998.
  19. ↑ Zuchetti, Adam (22 December 2019). "Caltex brand to disappear in Australia". Mybusiness. Retrieved 23 December 2019.
  20. ↑ "The return of Ampol but you might notice some changes during your next pit stop: StarCard no longer accepted here but red canopies are allowed to stay". Ashurst. 21 September 2021. Retrieved 23 September 2022.
  21. ↑ "Chevron Global Energy Inc v Ampol Australia Petroleum Pty Ltd [2021] FCA 617 (8 June 2021)". Commmbar Matters. 7 September 2021. Retrieved 23 September 2022.
  22. 1 2 "A Star Reborn". Caltex. Retrieved 19 June 2022.
  23. ↑ Caltex Announces Intention to Transition to Ampol Brand Caltex Australia 23 December 2019
  24. ↑ "Chevron completes acquisition of Puma Energy (Australia) Holdings Pty Ltd". Chevron Australia. 1 July 2020. Retrieved 25 August 2020.
  25. ↑ "OTR enters agreement to acquire Puma service stations in the Northern Territory". OTR. 2022. Retrieved 16 April 2023.
  26. ↑ "Strategic acquisition will see OTR enter the Northern Territory". Convenience and Impulse Retailing. 10 January 2023. Retrieved 16 April 2023.
  27. ↑ "Viva Energy's proposed acquisition of OTR Group not opposed". Australian Competition & Consumer Commission. 14 December 2023.
  28. ↑ "Caltex in Hong Kong". Caltex Hong Kong. Archived from the original on 23 July 2010.
  29. ↑ "Find a Caltex Station". Caltex Hong Kong. Retrieved 19 November 2022.
  30. ↑ "About us". GS Caltex India. Retrieved 19 November 2022.
  31. ↑ "Caltex in Malaysia". Caltex Malaysia. Retrieved 16 October 2016.
  32. 1 2 3 "Certificate of Incorporation - Z Energy 2015 Limited" (PDF). New Zealand Companies Office. Retrieved 22 November 2022.
  33. 1 2 3 "Z Energy 2015 Limited". NZL Business. Retrieved 22 November 2022.
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  35. ↑ Retail Design Awards - Fix Convenience Store Archived 6 May 2013 at the Wayback Machine
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  37. ↑ "Night 'n Day". nightnday.co.nz. Night 'n Day.
  38. ↑ "Growth reflected in firm's Fast 50 ranking". waterfordpress.co.nz. Waterford Press. 14 December 2019.
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  43. ↑ Tariq Ahmed Saeedi. "Total Parco plans Rs21 billion investment for Caltex acquisition". The News International (newspaper). Retrieved 15 September 2020.
  44. ↑ "Philippines". Chevron Corporation. Retrieved 19 November 2022.
  45. 1 2 3 "Caltex in Singapore". Caltex Singapore. Archived from the original on 14 December 2011.
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  47. ↑ Creamer, Terence (28 September 2018). "Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium". www.engineeringnews.co.za. Retrieved 11 October 2022.
  48. ↑ "About Astron Energy". Astron Energy. Retrieved 12 October 2022.
  49. ↑ Burger, Schalk (8 September 2022). "Astron Energy starts rebranding of 850 service stations across South Africa". www.engineeringnews.co.za. Retrieved 11 October 2022.
  50. ↑ "Astron Energy rolls out new look for network of over 850 service stations across SA". Astron Energy. 8 September 2022. Retrieved 12 October 2022.
  51. ↑ "Frequently Asked Questions". Astron Energy. Retrieved 12 October 2022.
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  53. ↑ "BUSINESS ETHICS: CONCEPTS AND CASES" by Manuel Velasquez, "A South African Investment". Archived from the original on 24 March 2012. Retrieved 29 November 2011.
  54. ↑ "Lee pays respect to late LG tycoon=". Yonhap . Seoul. 23 October 2012.
  55. ↑ Shim, Woo-hyun (18 May 2017). "GS Caltex celebrates its 50th anniversary". The Korea Herald .
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