Is texaco gone for good

311

I've seen that texaco ireland have changed there name to chevron ireland.
Will they be changing the signs on the garages aswell now ??

Hagar

Probably, remember Caltex anyone?

mike65

Nope!

Mike.

Wishbone Ash

Texaco to follow Statoil out of Irish petrol market
Sunday, October 15, 2006 - By Ed Micheau

Chevron, the parent company of Texaco Ireland, is preparing to put some or all of the company’s estimated 220 petrol stations in the Republic up for sale in the near future.

The multinational oil company is believed to have taken a decision in principle to offload its Irish retail business which could fetch between €170 million to €200 million, according to informed sources.

The move follows the completion of a review by the Competition Authority last week into the acquisition by Topaz Energy of Statoil. The authority missed a legal deadline to implement a more detailed Phase II investigation into the deal, which would have delayed a decision by three months.

Chevron is believed to have been awaiting a final outcome in that case before putting its Irish retail operations on the block. A spokesman for Chevron said the company did not comment on speculation.

Texaco Ireland’s most recently available accounts are for the 12 months to December 2004. Texaco made a €4.45 million loss on turnover of €997 million. However, much of the value in Texaco is believed to be hidden in his large property portfolio.

The sale process is likely to attract interest from a range of potential buyers which could include west of Ireland businessman John Sweeney, serial entrepreneur Niall McFadden and the Musgrave group. A management-led consortium including Texaco country chief Paul Martin may also emerge.

The Competition Authority said on Friday that the outstanding competition concerns raised by its probe into the Topaz acquisition of Statoil Ireland had been satisfactorily resolved by proposals made by the acquiring company.

Topaz, which will have 347 retails outlets nationwide, has agreed to sell or close down some outlets in Dublin, the only local market where the Competition Authority had competition concerns. Topaz has also made proposals in relation to terminalling and wholesale supply.

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what happened to all the Shells ??

Tipsy Mac

nm wrote:

what happened to all the Shells ??

JamesM

Hagar wrote:

Probably, remember Caltex anyone?

Texaco changed its name to Caltex in the 50s when it merged with the CALlifornian oil company. It changed back in the 60s.
Jim.

zilog_jones

I wonder if this will lead to even more station closures? At the rate things are going there'll be like 3 left in Limerick in a couple of years time

3ps

so oil companies can't make money out of petrol.
they pull out and sell their property.
irish companies buy the rights and will set up stations on different sites.
and they will charge more money in order to actually make money.

I guess?

ciarsd

Will this spell the end for Texaco Ballydowd, Lucan and their competitive prices? or will it just be a re-brand?

G Luxel

Hagar wrote:

Probably, remember Caltex anyone?

That name is still used in some far eastern countries. I have an old
road map from the sixties that features the Caltex logo.

mickjohnlong

so does anyone know then if texaco are gonna sell off some of there old sites that are closed and boarded up