ENERGY

Huntsman to Acquire Texaco Chemical: Huntsman Chemical Corp. said it and Australia’s Consolidated Press Holdings agreed to purchase Texaco Inc.’s Texaco Chemical Co. subsidiary for $1.06 billion. The deal is expected to close Jan. 1. Huntsman also has an option to acquire half or all of Texaco’s propylene oxide/MTBE plant, being built in Port Neches, Tex. The joint venture between Huntsman and Consolidated Press Holdings, owned by Kerry Packer, will be called Huntsman Corp. Utah-based Huntsman Chemical is the largest privately held U.S. chemical company and the largest U.S. producer of polystyrene, used in products ranging from toys to television cabinets.