Shareholders of Chevron Corp. and Texaco Inc. voted Tuesday to approve the merger of their companies, a $39.5 billion deal that creates the worlds fifth-largest oil company. Officials have already announced plans to create a global lubricants business within the downstream division of ChevronTexaco Corp. That business is headed by Shariq Yosufazai, former president of lubricants for Caltex Corp. It unites the international lubes businesses of Chevron, Texaco and Caltex, a joint venture that the ...

For the first time in a decade and a half, Gulf lubricants are returning to most of the United States, thanks to a new campaign that is heavy on e-commerce and light on traditional customer service. Chevron (now ChevronTexaco Corp.), which has not used the brand since acquiring Gulf Oil in the mid-1980s, has reintroduced it as a cost-saving line. Officials say they will sell Gulf lubes primarily through a dedicated website and that the business will have only limited staff of traditional custome...

In a move that was widely anticipated, Shell Oil Co. and Saudi Refining Inc. announced yesterday that they will purchase Texaco Inc.s shares in the twin U.S. downstream alliances, Equilon and Motiva. Shell and Saudi agreed to pay Texaco $2.1 billion and to assume debt and other liabilities valued at $1.7 billion. Scheduled to be completed by the end of the year, the deal will give Shell 100 percent ownership of Equilon Enterprises LLC, including Equilon Lubricants and base oil refineries with co...