Caltex

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Caltex is a petrol company. It operates in the Asia-Pacific, Africa and Middle East regions including Pakistan. It was formerly a joint venture between Texaco and Chevron, but since their merger is now a brand of Chevron.

[edit] Brief History

When the American military provisioning organisation moved into Australia in 1942, during the second World War, they had prohibitions against contracting for petroleum, and other, services from foreign companies but had to have at least two tenders for any contract. Because Mobil was the only American petroleum company operating in Australasia at that time there was a dilemma that was only resolved when the predecessor of the USDOD convinced Standard Oil of California and Texaco to set up a joint venture in Australia and New Zealand. In 1995 it merged with Ampol with most Ampol stores being rebranded as Caltex.

A Caltex Petrol Station in Singapore

Caltex trades in much of Southeast Asia as well as the South Pacific Ocean. In Australia it operates in conjunction with a large supermarket chain, Woolworths. Caltex is a major brand in Singapore, Philippines, Malaysia and Thailand.

In the Australian state of Victoria, Caltex trades as both Caltex and Caltex Safeway.

[edit] Controversy

According to 7News, during the financial year 2005-06, Caltex recorded a 50% rise in profit per barrel of oil. The news comes as petrol prices in Australia assume a financial strangle hold on most families in the country. It is believed many other oil companies in Australia have recorded similar profit increases. Many independent private investigations continue.