Texaco Inc. operates in more than 150 countries and, upon completion of its merger with Chevron Corporation, will stand as the world's fourth largest publicly traded energy firm. Texaco explores, discovers, and produces oil and natural gas; manufactures and markets fuels and lubricant products; operates trading, transportation, and distribution facilities; and manufactures alternate forms of energy for the power, manufacturing, and chemical markets. Texaco has expanded with the growth of the U.S. automobile industry in the early 20th century and quickly developed international production and marketing interests. By the 1960s, it had established the largest sales network of any U.S. oil company, with operations concentrated in refining and marketing. The oil crisis of the 1970s cut off many of its international sources of crude oil and left it with limited reserves. Texaco was poised for recovery in 1984, when it entered into a court battle with Pennzoil Company over the acquisition of Getty Oil. Since settling with Pennzoil in 1988, Texaco has pursued an almost constant restructuring effort in an attempt to recapture its former profitability and prominence in the oil industry. On October 16, 2000, Texaco announced its intention to merge with Chevron, forming ChevronTexaco. While the deal was expected to be completed by summer 2001, some issues concerning the divestment of some of Texaco's joint ventures stood to delay the merger.