updated 5/9/2005 5:22:35 PM ET 2005-05-09T21:22:35

ChevronTexaco Corp. shortened its name to Chevron Corp. on Monday, reverting to its identity before the oil company took over one of its largest rivals 3 1/2 years ago.

Major Market Indices

The San Ramon-based company adopted a hybrid name after buying Texaco Inc. for $39 billion in October 2001. Texaco is being dropped from the corporate masthead to reduce the confusion caused by the combined name, Chevron Chairman David O'Reilly said.

The Texaco brand won't disappear. Chevron still intends to sell gasoline at Texaco stations scattered in 21 states, primarily in the South and East. The company also sells gas under the Chevron and Caltex brands.

Chevron's stock will continue to trade on the New York Stock Exchange under the "CVX" ticker symbol adopted after the Texaco takeover. Shares rose 71 cents to close at $53.45 in Monday trading on the NYSE, where they have traded in a 52-week range of $44.01 to $63.15.

Besides changing its name, Chevron also is touching up its red-and-blue corporate logo with several minor revisions.

Chevron hopes to add another major oil company to its portfolio later this year. The company has agreed to buy El Segundo-based Unocal Corp. for about $17 billion. That deal still requires shareholder and regulatory approval.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com