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Chevron Acquires Texaco for $35B

HeadlineOct 16, 2000

Chevron Corporation is acquiring Texaco for $35 billion, creating the world’s fourth-largest oil company. The combined company will be called ChevronTexaco and joins the ranks of other industry powerhouses formed by similar merges, like ExxonMobil, Royal Dutch Shell and BP Amoco. Chevron has yet to resolve the lawsuit against it involving its involvement with the murder of two Nigerian activists protesting against Chevron oil spills and lack of compensation in Nigeria. Some 4,000 jobs will be eliminated as a result of the Chevron-Texaco deal.

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