Caltex began in 1936 as the California Texas Oil Company, a joint venture between the Texas Company (later named Texaco) and Standard Oil of California (later named Chevron Corp.) to market oil from newly gained concessions in Saudi Arabia. It was renamed Caltex Petroleum Corp. in 1968. The two parent companies merged in 2001 to form ChevronTexaco (renamed Chevron in 2005) and Caltex remains one of its major international brand names.
Caltex Petroleum Australia Pty. Ltd. until March 2015, Caltex was owned 50 percent by Chevron, and 50 percent by Australian shareholders. In March 2015, Chevron sold down its 50% holding to Australian shareholders.
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