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    Chevron Pulls Plug on NASCAR Sponsorship

    Oil company will focus on building Texaco and Havoline brands.

    SAN RAMON, Calif. -- After the conclusion of the 2008 NASCAR season, Chevron will terminate its sponsorship deal with the organization, to concentrate on new regional marketing strategies in support of the Texaco and Havoline brands.

    "We’re proud of our 20-year history with NASCAR," Shariq Yosufzai, president of Chevron global marketing, said in a statement. "It has served our Texaco and Havoline brands well. We value the partnership and professionalism of our NASCAR teams and the support that our loyal NASCAR fans have provided over the years. NASCAR has been a first class experience for us, due in large part to Chip Ganassi Racing with Felix Sabates (CGRFS). We wish them the best in their pursuit of the Cup."

    Chip Ganassi, owner of CGRFS noted, "We are pleased to have represented Texaco and Havoline over the past five years. Despite the success of our partnership, we understand that priorities change and wish Chevron the best in implementing its new marketing initiatives."

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