State Chevron (1999) Chevron (1996) Equiva Merger Outcomesb State Total (1999) State Total (1996) Chevron (1996) Equiva Merger Outcomesb
Shell (1996) Star Enterprisea (1996) Texaco (1996) Chevron /Equiva (1996) Chevron /Texaco (1996) Shell (1996) Star Enterprise (1996) Texaco (1996) Chevron /Equiva (1996) Chevron /Texaco (1996)
(Number of Outlets (Percent of 1996 State Total)
Connecticut     123 209       1,654 1,800   6.8% 11.6%      
Delaware     34 63 1 98 1 572 468   7.3% 13.5% 0.2% 20.9% 0.2%
District of Columbia 3   8 7   15   100 128   6.3% 5.5%      
Florida 714 719 674 912   2,305 719 9,301 9,550 7.5% 7.1% 9.5%   24.1% 7.5%
Georgia 652 663 262 559   1,484 663 7,765 7,466 8.9% 3.5% 7.5%   19.9% 8.9%
Maine       110   110   1,274 1,400   0.0% 7.9%      
Maryland 35 12 217 192   421 12 2,770 2,164 0.6% 10.0% 8.9%   19.5% 0.6%
Massachusetts     210 266   476   2,600 2,600   8.1% 10.2%      
New Hampshire     13 59   72   893 950   1.4% 6.2%      
New Jersey     253 323   576   3,900 4,500   5.6% 7.2%      
New York     169 247   416   6,246 6,504   2.6% 3.8%      
North Carolina 134 125 296 709   1,130 125 7,629 8,852 1.4% 3.3% 8.0%   12.8% 1.4%
Pennsylvania     135 588   723   5,000 5,300   2.5% 11.1%      
Rhode Island     55 64   119   525 540   10.2% 11.9%      
South Carolina 27 16 134 339   489 16 4,481 4,300 0.4% 3.1% 7.9%   11.4% 0.4%
Vermont     16 70   86   759 760   2.1% 9.2%      
Virginia 229 261 259 523   1,043 261 5,241 6,000 4.4% 4.3% 8.7%   17.4% 4.4%
West Virginia 135 136 17 25   178 136 2,000 2,000 6.8% 0.9% 1.3%   8.9% 6.8%
PADD 1 Total 1,929 1,932 2,875 5,265 1 10,073 1,933 62,710 65,282 3.0% 4.4% 8.1% 0.0% 15.4% 3.0%
Illinois     550   28 578 28 4,639 5,170   10.6%   0.5% 11.2% 0.5%
Indiana 15 4 308     312 4 3,200 3,422 0.1% 9.0%     9.1% 0.1%
Iowa     5   130 135 130 3,534 2,955   0.2%   4.4% 4.6% 4.4%
Kansas         160 160 160 2,797 2,525       6.3% 6.3% 6.3%
Kentucky 354 276 289 27   592 276 4,214 4,311 6.4% 6.7% 0.6%   13.7% 6.4%
Michigan     555     555 0 5,223 5,447   10.2%     10.2%  
Minnesota         125 125 125 4,053 3,955       3.2% 3.2% 3.2%
Missouri     151 6 199 356 199 4,981 5,181   2.9% 0.1% 3.8% 6.9% 3.8%
Nebraska         140 140 140 2,214 2,341       6.0% 6.0% 6.0%
North Dakota               886 938            
Ohio 19 18 417     435 18 6,050 6,200 0.3% 6.7%     7.0% 0.3%
Oklahoma     1 14 443 458 443 4,005 4,172     0.3% 10.6% 11.0% 10.6%
South Dakota         70 70 70 1,600 1,600       4.4% 4.4% 4.4%
Tennessee 73 65 223 420   708 65 5,016 5,338 1.2% 4.2% 7.9%   13.3% 1.2%
Wisconsin     74   1 75 1 3,867 4,027   1.8%   0.0% 1.9%  
PADD 2 Total 461 363 2,573 467 1,296 4,699 1,659 56,279 57,582 0.6% 4.5% 0.8% 2.3% 8.2% 2.9%
Alabama 496 521 263 482   1,266 521 5,000 5,500 9.5% 4.8% 8.8%   23.0% 9.5%
Arkansas     96 76 171 343 171 2,984 3,220   3.0% 2.4% 5.3% 10.7% 5.3%
Louisiana 433 483 333 581   1,397 483 7,276 7,100 6.8% 4.7% 8.2%   19.7% 6.8%
Mississippi 264 276 282 295   853 276 3,799 3,893 7.1% 7.2% 7.6%   21.9% 7.1%
New Mexico 148 150 68   126 344 276 1,650 1,577 9.5% 4.3%   8.0% 21.8% 17.5%
Texas 1,390 1,511 557 2,235 219 4,522 1,730 14,773 15,074 10.0% 3.7% 14.8% 1.5% 30.0% 11.5%
PADD 3 Total 2,731 2,941 1,599 3,669 516 8,725 3,457 35,482 36,364 8.1% 4.4% 10.1% 1.4% 24.0% 9.5%
Colorado 2   10   277 287 277 2,256 2,517   0.4%   11.0% 11.4% 11.0%
Idaho 121 112     77 189 189 765 1,182 9.5%     6.5% 16.0% 16.0%
Montana 1       5 5 5 1,568 1,385       0.4% 0.4% 0.4%
Nevada 108 83 38   96 217 179 850 747 11.1% 5.1%   12.9% 29.0% 24.0%
Utah 188 152 25   157 334 309 1,324 1,270 12.0% 2.0%   12.4% 26.3% 24.3%
Wyoming 12       86 86 86 636 400       21.5% 21.5% 21.5%
PADD 4 Total 432 347 73 0 698 1,118 1,045 7,399 7,501 4.6% 1.0%   9.3% 14.9% 13.9%
Alaska 37 41     40 81 81 262 257 16.0%     15.6% 31.5% 31.5%
Arizona 237 209 49   273 531 482 1,950 1,907 11.0% 2.6%   14.3% 27.8% 25.3%
California 1,430 1,473 1,247   704 3,424 2,177 11,258 14,200 10.4% 8.8%   5.0% 24.1% 15.3%
Hawaii 85 95 51   48 194 143 370 406 23.4% 12.6%   11.8% 47.8% 35.2%
Oregon 236 205 44   304 553 509 1,857 1,893 10.8% 2.3%   16.1% 29.2% 26.9%
Washington 402 392 98   527 1,017 919 3,000 2,500 15.7% 3.9%   21.1% 40.7% 36.8%
PADD 5 Total 2,427 2,415 1,489 0 1,896 5,800 4,311 18,697 21,163 11.4% 7.0% 0.0% 9.0% 27.4% 20.4%
a: Star Enterprise was a joint venture refining/marketing joint venture between Saudi Refining and Texaco. Star Enterprise was combined with Shell's east and southeast refining and marketing assets to form Motiva Enterprises.
b: Two merger outcomes are presented. The outcome labeled "Chevron/Equiva" provides an upward bound on the potential size of the merged company (presuming that Texaco buys out its partners Saudi Refining and Shell Oil). The outcome labeled "Chevron/Texaco" provides a lower bound on the potential size of the merged company (presuming that Texaco exits the two joint ventures with its current ownership shares of the assets -- 44 percent of Equilon and 32.5 percent of Motiva). A third outcome is that Texaco sells its ownership in both joint ventures to its partners, resulting in Texaco contributing no downstream assets to the merged company, which would be equal to the columns labeled "Chevron." EIA makes no estimations as to what the probabilities of the outcomes are.
Note that Equilon and Motiva have sold numerous downstream assets, including several motor gasoline outlets, since 1996 as part of consent agreements with the U.S. regulatory authorities. See, for example, "Equilon Enterprises LLC Announces Sales of Shell and Texaco Stations in San Diego to New West Petroleum" and "Equilon Enterprises LLC Announces Sale of Texaco Stations and Terminal in Oahu to U.S. Restaurant Properties, Inc.".
Source: National Petroleum News Market Facts (mid-July 2000), pp. 40-48 and 120; and National Petroleum News Market Facts 1997 (mid-July 1997), pp. 44-52 and 122.

Last Updated on 10/17/2000
By Financial Analysis Team, Office of Energy Markets and End Use, Energy Information Administration
Email: neal.davis@eia.doe.gov