In the UK, MediaVest is the incumbent on the Texaco account, while Mediaedge:cia handles the US business.
The review follows the oil company's decision to centralise its creative accounts, for which Young & Rubicam San Francisco is the incumbent in the US, with HHCL & Partners handling the UK creative.
McCann-Erickson handles the client in Asia-Pacific while BBDO is responsible for Chevron Texaco in Latin America. The European account is split between a number of shops.
It is believed that all the incumbent global holding companies including WPP, Zenith Optimedia Group, Interpublic Group and Starcom Media-Vest have been invited to pitch for the separate media and creative accounts.
The review is part of a wider cost-cutting drive at Chevron Texaco - its chairman, Dave O'Reilly, has vowed the company will generate at least $1.8 billion annually in operating synergies following its merger last October.
Chevron Texaco selected Jonathan Ketchum, the former Texaco managing director, to take its top European marketing role. Ketchum became general manager, marketing and communications, reporting to the president of the group, last December. At this time Heidi Pervin relocated from the US to the UK to take responsibility for agency relationships as part of her role as the European marketing manager, brand and consumer promotion.
In the UK, where Texaco has 1,000 forecourts, Texaco has concentrated its marketing activity below the line, spending only £1 million above the line. Its most high- profile activity has been the broadcast sponsorship of ITV's coverage of Formula 1.
This contract ran out at the end of last season and, after a protracted battle, Toyota took over the sponsorship.