| Caltex | |
| Former Name: |
|
| Industry: | Petroleum |
| Hq Location: | Singapore (operational) |
| Parent: | Chevron Corporation |
| Products: | Oil, fuel |
Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa. 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.
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.
, the Caltex brand name is used in 29 countries in the Eastern Hemisphere.[1]
See main article: Ampol. 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.[7] 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.[8] [9] 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.[10] It also floated 25% of its shares to the Australian public the same year, the first multinational oil company to do so in Australia.[11]
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.[12] The Caltex brand was also planned to be retired and replaced by Ampol, but this never eventuated.[13] 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. In exchange, Pioneer received 90 million Caltex Australia shares (33.33% stake), which it later sold through public offering.[14] [15] That 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.[16] 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).[17] [18] 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 was a "non-exclusivity period", where both Chevron and Ampol could use the Caltex brand at the same time. After that date, Ampol would no longer be authorised to use the Caltex brand. That meant the rebranding to Ampol had to be completed by 31 December 2022.[19] [20]
In November 2019, Chevron announced that 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.[21]
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.[19] 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.[22] [23]
Early in 2024, Chevron finalised an agreement to purchase most of Viva Energy's Coles Express-branded outlets in South Australia. That 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 received 13 Chevron sites located in Queensland, New South Wales and Western Australia.[24]
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.[25]
In October 2005, Caltex Oil Hong Kong Limited changed its name to Chevron Hong Kong Limited.[26], there are 32 Caltex stations in the territory.[27]
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.[28]
There are approximately 420 Caltex stations across Peninsular Malaysia; three terminals in Pulau Indah, Prai; and a joint-venture in Pasir Gudang.[29]
Caltex Oil Malaysia Limited changed its name to Chevron Malaysia Limited in 2005.[1]
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.[30] Service stations selling 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.[30] [31] [32]
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.[30] In November 1996, Caltex Oil (N.Z.) Limited changed its name to Caltex New Zealand Limited. 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.In 2009, the stand-alone stores were sold off and rebranded as Fix;[33] [34] [35] remaining Fix stores were rebranded as Night 'n Day in 2017.[36] [37]
In May 2006, Caltex New Zealand Limited announced it would change its name to Chevron New Zealand, in line with its parent company.[38] In June 2016, Chevron New Zealand was acquired by Z Energy and became a subsidiary known as Z Energy 2015 Limited.[31] [32] The Caltex-branded retail network would remain independently owned and operated, with operators setting their own retail fuel prices.[39] 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.[40]
, there are more than 140 Caltex branded service stations and 70 truck stops around New Zealand.[41]
In 2015, Total Parco announced that it would acquire and rename Caltex petrol pumps in Pakistan by an investment between and .[42]
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.[43]
Caltex has nearly 600 stores in the Philippines.[44]
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 285000oilbbl/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], there are 25 Caltex stations in the country.[46]
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 which is north of Cape Town; the refinery has a production capacity of 100,000 barrels per day and produces a range of petrochemical products including petrol, diesel, jet fuel, liquefied petroleum gas, fuel oil and paving asphalt. The company 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.
Caltex had been criticized frequently in the region.[53]
See main article: GS Caltex. 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]
Some Asian operations are run by Caltex (Asia) Limited, based in Taipei.
In the 1955 movie Godzilla Raids Again, convicts escape in a truck with the Caltex livery on the side.