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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 22, 1999
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TEXACO INC.
(Exact name of registrant as specified in its charter)
Delaware 1-27 74-1383447
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification Number)
2000 Westchester Avenue, 10650
White Plains, New York (Zip Code)
(Address of principal executive offices)
(914) 253-4000
(Registrant's telephone number, including area code)
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Item 5. Other Events
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On September 22, 1999, Caltex Corporation, owned 50% by Texaco and 50% by
Chevron Corporation, sold 97.2% of its 50% equity interest (70.6 million shares)
in Koa Oil Co. Ltd. to Nippon Mitsubishi Oil Corporation in response to their
recent public tender offer. Caltex will recognize a loss of approximately $62
million in the third quarter, resulting from the U.S. tax consequences of the
sale.
As a result of this transaction, Texaco will recognize a loss of about $80
million in the third quarter of 1999. This loss is comprised of our share of the
estimated Caltex loss, plus previously-deferred currency translation amounts
from prior years.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TEXACO INC.
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(Registrant)
By: R. E. KOCH
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(Assistant Secretary)
Date: September 27, 1999
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