Oral History Interview with Stephen E. Van Nostrand, April 20, 1987 Page: 27
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27
Marcello:
Van Nostrand:
various committees; to coordinate the functions of the joint
ventures, in other words; and to act as officers and directors
in the joint venture partnerships. That's what made it
complicated, because the companies were offshore that had the
true partnerships, and we had a contract with them to perform
their functions in Japan.
But it worked out very well. The companies that we
had partnerships with--Koa, Nippon, Tokyo Tanker--really had
nothing in common with each other. We were the common
denominator, Caltex (Japan). So we chaired the Pricing
Committee; we chaired the Operations Committee to determine
what the refinery runs would be; we chaired all the signifi-
cant operations in order to coordinate these very large,
unrelated operations. The joint ventures were in refining
and transportation; and within that coordinated group, we
would import the raw material, and we'd convert it to
finished form. It would all be sold out of the joint venture
refineries to Caltex Oil (Japan)'. Then we, in turn, sold
to the marketing arm, which was the Nippon Oil Company, a
company in which we had no equity and over which we had
no authority whatsoever. But they were, in turn, our partner
in refining. It was complicated.
So in Japan itself, in Japan proper, Caltex never had any
service station network or anything of that nature, did it?
Yes, we did. This, again, was something that took place in
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Marcello, Ronald E. & Van Nostrand, Stephen E. Oral History Interview with Stephen E. Van Nostrand, April 20, 1987, book, April 20, 1987; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metadc306889/m1/29/?q=%22~1%22~1&rotate=90: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Oral History Program.