From Latin flÅ«ctuÄns, flÅ«ctuant- , present participle of flÅ«ctuÄre, to fluctuate; see fluctuate. adjective. 1  Subject to change or variation: variable: fluctuant oil prices. 2  Medicine Capable of being moved or compressed.3  Used of an abnormal mass such as a tumor or abscess. 4  Moving in waves.djective. 1  Subject to change or variation: variable: fluctuant oil prices. 2  Medicine Capable of being moved or compressed. 3  Moving in waves.
Like Gulf Oil, Texaco was founded in 1901 after a major oil strike at Spindletop near Beaumont, Texas. The company was officially incorporated as The Texas Company in 1902 and the word Texaco was first used as a brand (for asphalt, not gasoline) in 1903.
The list comprises some of the largest corporations in the world, many of which didnât manage to recover from the downfall. The 12th place on our list of the largest bankruptcies is held by Texaco Inc which before filing for bankruptcy had $35 billion in assets. Texaco filed for bankruptcy in 1987 after a court decision according to which the company owned $10.5 billion to Pennzoil. Later, the oil retailer Texaco managed to pay Pennzoi $3 billion, and later managed to get out of the bankruptcy. In 2001, Texaco merged into Chevron Corporation (NYSE: CVX).