Who Owns Texaco?

Texaco operates under Chevron Corporation's sustainability framework. Chevron has set targets for lowering the carbon intensity of its operations and has invested in renewable fuels, sustainable aviation fuels, and carbon capture and storage technologies. The brand's fuel stations participate in Chevron's broader strategy to produce more energy with lower environmental impact.

Chevron has committed to using 100% renewable electricity in operations where feasible and has been incorporating EV charging stations at select Texaco and Chevron locations. The company also participates in methane emissions management across its fuel supply chain and implements spill prevention programs and underground storage tank monitoring at retail locations.

No Leaping Bunny, PETA, Vegan Society, or B Corp certification applies to Texaco or Chevron in the context of an energy company.

Texaco's distinctive red star logo is one of the most recognized corporate symbols in the American fuel industry. The brand has maintained consumer awareness across multiple generations, owing to its 1901 founding and long-standing presence in American communities. Texaco pioneered the concept of standardized gasoline stations with consistent architecture and signage, helping establish the modern gas station format.

Chevron, Texaco's parent company, has received recognition from industry organizations for safety programs and environmental compliance at its fuel station operations. The brand's Techron fuel additive technology has been acknowledged by automotive organizations for engine cleaning performance.

Texaco has faced several significant controversies throughout its history, primarily related to environmental issues from operations prior to the Chevron acquisition.

Ecuador Amazon Environmental Disaster: The most significant controversy involves Texaco's operations in the Ecuadorian Amazon from 1964 to 1992. The company discharged toxic wastewater into rainforest ecosystems during its drilling operations. A lawsuit in Ecuador resulted in a 9.5 billion US dollar judgment against Chevron, which inherited the liability after acquiring Texaco. Chevron has disputed the judgment and has been engaged in protracted legal battles, arguing that Texaco completed a remediation agreement with the Ecuadorian government in 1998. The case remains one of the most high-profile environmental justice disputes in the petroleum industry.

Pennzoil-Getty Oil Dispute: In 1984, Texaco acquired Getty Oil for 10.1 billion US dollars, but Pennzoil claimed it had a prior agreement to acquire Getty. A Texas jury awarded Pennzoil 10.53 billion US dollars in damages, forcing Texaco into bankruptcy protection in 1987. The case was settled for 3 billion US dollars and remains one of the largest corporate legal disputes in American history.

Industry-Wide Climate Criticism: As part of the petroleum industry, Texaco and Chevron face ongoing criticism from environmental organizations related to climate change and fossil fuel dependence. Chevron has been targeted by climate activists for its role in greenhouse gas emissions, and the company faces shareholder pressure regarding its climate strategy and transition to lower-carbon energy sources.