What company bought Getty Oil for $10.2B in 1983?

What company bought Getty Oil for $10.2B in 1983?

• A. Chevron
• B. Texaco
• C. Exxon
• D. BP

Answer: (B)

This question tests knowledge of a notable oil-industry merger from the early 1980s, where a major company agreed to buy Getty Oil for about $10 billion. Getty Oil was a significant U.S. independent with substantial reserves and refining interests. The buyer, Texaco, aimed to grow by adding those assets, boosting its reserves, production, and overall position in the industry. The deal, one of the era’s largest corporate moves in oil, reshaped competitive dynamics among the big players. The other companies listed did not make this purchase, so Texaco is the correct match.

This question tests knowledge of a notable oil-industry merger from the early 1980s, where a major company agreed to buy Getty Oil for about $10 billion. Getty Oil was a significant U.S. independent with substantial reserves and refining interests. The buyer, Texaco, aimed to grow by adding those assets, boosting its reserves, production, and overall position in the industry. The deal, one of the era’s largest corporate moves in oil, reshaped competitive dynamics among the big players. The other companies listed did not make this purchase, so Texaco is the correct match.