Texaco Inc. yesterday announced a major corporate reorganization that will create five new divisions to manage oil and gas operations in the United States and overseas.
The new plan, effective April 1, will place greater management authority in five divisional headquarters, rather than keeping it centralized in company headquarters, a Texaco spokesman said. "These new divisions will be responsible for the full scope of Texaco activities in their fields," the company said.
The reorganization brings Texaco, the third leading oil producer, in line with the corporate structures of most other major oil companies.
The new units are:
Texaco USA, based in Houston, responsible for exploration, production, refining, transporation and marketing of oil and natural gas in the U.S.
Texaco Europe, in Harrison, N.Y., responsible for oil and natural gas operations in 12 Western European nations.
Texaco Latin America, based in Coral Gables, Fla., supervising natural gas and oil operations in 67 countries and territories in 67 countries and terriories in Central America, the Caribbean, South America and West Africa.
Texaco Chemical Co., in Houston, directing worldwide chemical manufacturing and product sales in seven countries including the United States.
Texaco Internationl Exploration Co., in Harrison, N.Y., supervising exploration in parts of the world not assigned to other divisions.
The company headquarters remain in Harrison, N.Y.
The reorganization does not affect other Texaco divisions including marine transportation, supply and distribution, crude oil and oil product trading, and aviation and marine sales.