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Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa. [1] Headquartered in Singapore, it is also the brand name of non-Chevron petroleum companies in some countries (such as New Zealand, and previously Australia and South Africa) under a trademark licensing agreement with Chevron.
The company was founded in May 1967 as the first private oil company in Korea. [1] [2] The company changed its name from LG-Caltex Oil Corporation to GS Caltex Corporation in 2005 as part of the GS Group split from LG Corporation. [3] GS Caltex exports petroleum, petrochemical, and lubricant products to 57 countries (as of 2022). [citation needed]
In October 2014, Chevron announced that it would sell a 30 percent holding in its Canadian oil shale holdings to Kuwait's state-owned oil company Kuwait Oil Company for a fee of $1.5 billion. [60] Despite these sales, Chevron continued to explore acquisitions, a trend which had reinvigorated in 2019 and extended throughout the COVID-19 pandemic .
Oil extended gains as markets priced the supply impact of recently announced sanctions against Russia's energy market. ... Kaneva and her team expect Brent prices to average $73 for 2025.
Not surprisingly, service providers (oil-change shops and dealerships) tend to recommend shorter change intervals (3000 to 5000 miles). That can never hurt your engine, but it also means they'll ...
Private Canadian oil and gas producer Strathcona Resources is in advanced talks to buy rival Caltex Resources for around C$700 million ($552.97 million), adding to its enhanced oil recovery ...
Caltex subsequently abandoned the acquisition, with Mobil entering into an agreement to sell the same sites to 7-Eleven Australia. [47] In late 2009 and early 2010, Caltex Australia announced the closure of the Caltex Lubricating Oil Refinery at Kurnell by 2011. At the time of closure, it was Australia's last remaining lube refinery. [48]
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).