By Sonya Rabbitte, 1 May 2001 16:13
NEWS Chevron confirmed last month that it was in buyout talks with shareholders Ariba, Texaco and Crosspoint Venture partners, but the collapsed talks now mean the exchange operations are certain to be wound up. A successful buyout could have left Chevron with a powerful marketplace, especially as it seeks approval for a $100bn merger with Texaco. PetroCosm never achieved the liquidity of rival exchange Trade-ranger, whose backers include BP Amoco, Commerce One, Mitsubishi and Shell
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