Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
1985
Texaco, Inc. v. Pennzoil, Co.
Pennzoil won a US$10.53 billion civil verdict concerning the Getty transaction. Texaco later filed for bankruptcy protection during its efforts to challenge the award, before settling with Pennzoil for US$3 billion.
1984
Getty Oil takeover dispute
Getty interests first agreed to sell the company and its proven reserves to Pennzoil, then entered into a competing transaction with Texaco. The conflict led to litigation over whether Texaco had improperly interfered with Pennzoil’s binding agreement.