April 1902 the Texas Fuel Company's major investors obtained a new charter for a corporation-to be known as the Texas Company-which authorized the company to engage in storage and transportation of mineral solutions.
With Joseph Stephen Cullinan's oil expertise and the financing of his New York backers, The Texas Company soon became one of the nation's most prominent oil companies. Cullinan continued to drill wells in the southwest region, building more pipelines to connect them with Port Arthur.
The first Texaco star arrived in 1903, when a 19-year-old Italian refinery worker suggested to the company embrace the five-pointed symbol of Texas. He later added a green "T" - a color scheme he probably picked up from the Italian flag.
In 1905, the company established an operation in Antwerp, Belgium, under the name Continental Petroleum Company, which it acquired control of in 1913. In 1915, Texaco moved to new 13 story offices on 1111 Rusk St., Houston, Texas. By 1911 the company had a presence in Mexico and Africa.
From 1929 to 1934, during the Great Depression, the company was operating at a loss and shut down some refineries. But its recovery was rapid as it expanded its international activities.
In 1936 the Texas Company established exploration and production interests in the Middle East through a joint venture with Standard Oil Company of California.
In 1932, Texaco introduced Texaco Fire Chief gasoline, followed by Sky Chief gasoline in 1938 - bringing higher-octane options to pumps across America.
In October 2000, Chevron Corporation agreed to buy Texaco for $ 36 billion. The merger was completed October 9, 2001.
History of Texaco Oil Company
