[Author’s Name]
[Institution’s Name]
Essay on Chevron/Texaco More Than Just Gasoline
The formula is simple: Put two large companies together and you get a very large company, but you also get an entity that can be operated in a more cost-efficient manner. Take Chevron Texaco Corporation as an example. When Chevron and Texaco merged in October 2001, company officials estimated they would realize $1.2 billion in savings through greater operating efficiencics. In fact the company achieved a staggering $2.2 billion in synergy savings.
The world of major oil continued to get both bigger and smaller on October 15, 2001 when San Francisco-based Chevron Corporation, the third-largest United States oil company, agreed to purchase White Plains, New York-based Texaco Incorporated, the country's fourth-largest oil company, for $35 billion. The new company, which is known as the ChevronTexaco Corporation, became the world's fourth-largest oil company behind Royal Dutch/Shell, ExxonMobil and BP. The deal continued the merger mania that had swept the industry worldwide since 1998, coming on the heels of the couplings of Exxon and Mobil; Total, Fina and Elf; Repsol and YPF; and BP, Amoco and Arco. Dave O'Reilly, chairman and CEO, serves as chairman and CEO of Chevron Texaco, which is headquartered in San Francisco. Peter Bijur, Texaco chairman and CEO, is a vice chairman of the combined company with responsibility for downstream, power and chemicals operations.
The merger positioned ChevronTexaco as a much stronger United States-based global energy producer better able to contribute to the nation's energy needs. That was good news for the country because the United States as a result had an additional top-tier energy company better positioned to compete effectively with the international majors. The two companies formed a powerful combination that had the strength and resources to compete and succeed around the globe. Texaco and Chevron are natural partners whose historic relationship and operational fit are highly complementary....
This essay has the followings:
Total words: 2,797
Total reference: 3
Total price: £ 49.95
Click here to Order this essay!
Get Professionally written Essays that are:
• Written According to your Exact Requirements
• 100% Original and Non-Plagiarized
• Written by Expert
UK Writers
• Delivered to you before your deadline
Amazingly Low Prices - £9.95/page
