Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 11 pages
Data source: Published sources
Topics:
ChevronTexaco, ExxonMobil, Unocal, BP; Largest integrated energy company; Standard Oil Company of California; Restructuring and reorganisation plan; International oil exploration and discovery; Oil industry consolidation; ChevronTexaco, Caltex, Shell, Total, Fina; Acquisition and merger divestment sell-off; Proven oil and gas reserves; Warri Crisis Niger Delta; Focus on core operations; Dismal financial performance; Oil and gas exploration rights; The Transformation Plan; Top 10 in Fortune 500 list
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Abstract
ChevronTexaco is one of the world''s major energy companies and the second largest integrated oil company in the US. During 2001 and 2002, the company''s revenues and income experienced severe decline. In addition, the company''s production was also declining year after year, in spite of its promises and efforts to increase it. In 2003, Chief Executive Officer David O''Reilly implemented a growth plan under which the company began to focus on its core operations. But its net proven reserves were declining. In April 2005, the company announced the acquisition of another US oil firm Unocal, but the deal ran into trouble due to counterbids from other oil majors and pending regulatory approval. This case traces the evolution of ChevronTexaco into one of the world''s leading energy companies, and provides insights into the troubles as well as the growth plans of the company. The case offers scope to discuss the future of the company based on its successful acquisition of Unocal and realisation of all its growth targets.
Location:
Industry:
Size:
USD143 billion (2004 sales)
Other setting(s):
2001-2005
About
Abstract
ChevronTexaco is one of the world''s major energy companies and the second largest integrated oil company in the US. During 2001 and 2002, the company''s revenues and income experienced severe decline. In addition, the company''s production was also declining year after year, in spite of its promises and efforts to increase it. In 2003, Chief Executive Officer David O''Reilly implemented a growth plan under which the company began to focus on its core operations. But its net proven reserves were declining. In April 2005, the company announced the acquisition of another US oil firm Unocal, but the deal ran into trouble due to counterbids from other oil majors and pending regulatory approval. This case traces the evolution of ChevronTexaco into one of the world''s leading energy companies, and provides insights into the troubles as well as the growth plans of the company. The case offers scope to discuss the future of the company based on its successful acquisition of Unocal and realisation of all its growth targets.
Settings
Location:
Industry:
Size:
USD143 billion (2004 sales)
Other setting(s):
2001-2005