Oral History Interview with William Tucker, September 25, 1985 Page: 40
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40
the crystal was all scored to divide it up, it was hit with
a hammer and split apart into separate pieces. I recall
that there were personnel problems of all kinds--who would
stay with Caltex, who would go to the shareholder companies,
who would stay with what business.
Let's back up just a bit. What do you know about the
decision to split or to reorganize or whatever you want
to call it?
Well, a fair amount. We had a company in the United Kingdom
called Regent Oil Company, which had been formed. It was
owned partly by Caltex and partly by Trinidad Leaseholds.
Trinidad Leaseholds had an oil concession in the island of
Trinidad, and it had a refinery in Trinidad. Caltex bought
into Regent. I think it was maybe 50 percent Trinidad
Leaseholds and 50 percent Caltex originally. It got part
of its product from the Carribbean, from Trinidad, and got
part of its product from Bahrain. Texaco, under Gus Long,
bought Trinidad Leaseholds. So we ended up with a major
marketing operation in the United Kingdom. Incidentally,
by that time we'd been looking at refinery sites; we'd
bought a refinery site in Southampton, and we were goingto build a refinery in the United Kingdom. Texaco suddenly,
unbeknownst to Standard Oil of California, without any
discussion, without giving them any opportunity to do so, bought
Trinidad Leaseholds, so they owned indirectly 75 percent ofMarcello:
Tucker:
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Marcello, Ronald E. & Tucker, William. Oral History Interview with William Tucker, September 25, 1985, book, September 25, 1985; Denton, TX. (https://texashistory.unt.edu/ark:/67531/metadc2137858/m1/42/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Oral History Program.