An Irish Shell spokesman has said that he did not expect closures of Shell or Texaco outlets to occur as a result of the European joint venture plan between the two oil companies. Mr Declan Fallon, public and legal affairs manager, said that both brand names would continue to operate. The companies signed a non-binding Memorandum of Understanding (MOU) last Thursday with the aim of establishing, by mid-1999, a downstream joint venture, offering estimated annual pre-tax savings of at least $200 million.