Report: ChevronTexaco Eyes Unocal - TheStreet

Unocal

(UCL)

shares were up Thursday after a report that the energy company has attracted takeover interest from its industry giant

ChevronTexaco

(CVX) - Get Report

.

The possibility of a U.S. suitor follows speculation that

China National Offshore Oil Corp.

(CEO) - Get Report

has been eyeing Unocal.

A merger would be the first involving a major U.S. oil and gas company in years, following a wave of consolidation in the late 1990s.

In a Thursday report,

The Wall Street Journal

cited people familiar with the Unocal-ChevronTexaco situation.

Unocal shares rose 59 cents, or 1.1%, to $53.50 in the premarket Thursday. ChevronTexaco shares rose 63 cents, or 1%, to $61.57 Wednesday.