| Chevron | Equiva | Texacoa | Merger Outcomesb | National Total | Chevron | Equiva | Texacoa | Merger Outcomesb | ||||
| Equilon | Motiva | Chevron /Equiva | Chevron /Texacoa | Equilon | Motiva | Chevron /Equiva | Chevron /Texacoa | |||||
| (Total Branded Retail Outlets) | (Percent of National Total) | |||||||||||
| 7,980 | 9,400 | 14,200 | 8,751 | 31,580 | 16,731 | 180,567 | 4.4% | 5.2% | 7.9% | 4.8% | 17.5% | 9.3% |
| a: Texaco is assigned 44 percent of Equilon's outlets and 32.5 percent of Motiva's outlets. Each value is the ownership share Texaco holds in that particular refining/marketing joint venture. | 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. | |||||||||||
| Source: National Petroleum News Market Facts (mid-July 2000), pp. 42-48, and 120. | ||||||||||||
This table usually also includes company-level motor gasoline retail outlet data by state. Although 1999 data for total state-level motor gasoline retail outlets and for state-level Chevron motor gasoline retail outlets, these data do not exist for Equilon, Motiva, or Texaco. The last year that state-level retail outlet information for Equilon, Motiva, Shell, or Texaco was reported to the National Petroleum News was 1996, which was prior to the creation of the Equilon and Motiva joint ventures of Shell Oil, Star Enterprise (itself a joint venture between Saudi Refining and Texaco), and Texaco. Thus, Supplemental Table 2 contains both 1999 and 1996 data for Chevron and the state totals in an attempt to provide perspective for those choosing to use the 1996 data for Shell, Star Enterprises (a Texaco-branded joint venture between Texaco and Saudi Refining), and Texaco.
Last Updated on 10/17/2000