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| Sunday, 31 October 2004 |
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Business |  |
| News Business Features Editorial
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Chevron Texaco celebrates 125 years September 2004 marks the 125th anniversary of the global energy leader Chevron Texaco. We trace our roots to the establishment of Pacific Coast Oil Co. by petroleum pioneers on September 10, 1879. This was the first of many partnerships that created today's global enterprise, spanning over 180 countries in the world. Chevron began its operations as an oil producer & refiner. The organisation currently has business operations in some five major U.S. refineries and is a marketer of petroleum products to the world. Texaco having a rich history of marketing of fuels has been the arm in product development. Texaco products and services are known for its high quality, reliability and performance. Thereafter Caltex was set up as a joint venture between Chevron & Texaco to create a strong business proposition in the Asia Pacific region including South Africa. These three energy businesses joined hand & merged their operations in 2004 to form Chevron Texaco corporation bringing about with them the superior knowledge, expertise and knowhow to form one of the largest energy companies in the world. Commenting on the 125 years of Chevron Texaco operations. Caltex Lubricants Lanka Limited Managing Director Kishu Gomes stated "Caltex is recognised as the most successful joint venture in the business history in Sri Lanka, globally. Integrated to the company vision, partnership has been a driving force for 125 years, bringing Chevron Texaco to this momentous point in its corporate history. The anniversary is an occasion to celebrate not only the business partnerships that have created today's global enterprise but also friends from over 180 countries across the world. Caltex Lanka has demonstrated its ability to increase share holder value over the last 10 years in Sri Lanka. The strength of our 125 year global heritage helps us to keep this winning tradition alive." The heritage of the company begins from the time an enterprising Trio namely Charles Felton, Lloey Tevis and George Loomis organized the Pacific Coast Oil Co (PCO). A Chevron Texaco predecessor. They acquired the California Star Oil works and Loomis became the first president before Felton succeeded him in December 1879. The leaders drove PCO's development within a few years from a modest venture to the West Coast's leading integrated oil company. On the other hand in 1880 the largest refinery of the Pacific Coast Oil Co was built at Alameda Point, California, the state's largest and most modern refinery. The 600 barrel plant gave the company far more capacity than it had previously. Today this number has grown to a 248,900 barrels of oil per day unit helping make Chevron Texaco the no 1 producer of oil in the US which enables the company to meet the growing demand for aviation gasoline, synthetic rubber and high octane automotive gasoline for high compression engines. From oil wells, to pipelines, to new innovative cutting edge products and services the organisation has been in business for a good 125 years. As a Chevron Texaco Company, Caltex in Sri Lanka has brought about innovative global trends to the local industry. The ideas of talented and skilled professionals fuel innovation and help power Chevron Texaco's performance and growth. This creative energy is channelled to increase efficiencies, solve business challenge, lower costs and deliver greater value to our customers. The knowledge gathered through this 125 year journey has made the organisation rich in heritage, culture, business operations, product innovations, technology development, improved way of life & strong employment opportunities and sound organisational responsibility. As Chairman/CEO of Chevron Texaco, Dave O Reilly says "For 125 years, we have produced reliable, affordable energy and have taken pride in knowing that the energy we produce is a building block for economic development and helps improve the standard of living around the world. This anniversary causes us to reflect upon our past accomplishments and successes, but it also reminds us of our responsibility to build for the next 125 years"! |
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| Produced by Lake House |
