Chevron

Chevron Corporation is an integrated energy company in the United States. One of the largest corporations in the world.

The company ranks 5th in the Fortune Global 500. Included in the Fortune 1000 list at the end of 2005

Chevron, the second largest oil company in the United States, is located in San Ramon, California. Chevron is engaged in the production of oil, gas, projects in the field of geothermal power, manages refineries, wells and electricity production facilities around the world.

Representative offices in more than 100 countries, under the management of 24 thousand branches, the number of employees - more than 60 thousand people.

Financial performance

2024: Plan to reduce capital expenditure amid lower oil prices

Chevron will cut capital spending in 2025 for the first time since the COVID-19 pandemic, cutting its plans to expand shale production just as Donald Trump takes office with a promise to "drill, drill, drill."

This is the first time Chevron has cut costs since 2021, when producers experienced a collapse in energy demand caused by the pandemic, and this comes amid lower oil prices due to fears of oversupply in the global market.

2023

Profits from US oil and gas companies

2022

The rise of profits against the background of the conflict in Ukraine

Oil majors are making record profits as the world suffers from high fuel prices. In the second quarter of 2022, Big Oil may receive a record profit of $50 billion.

ExxonMobil, Chevron, Shell, TotalEnergies and BP will make even more money than in 2008, when global oil prices jumped to $147 a barrel.

19.7% of oil production in Kazakhstan

2020

In the list of the largest oil and gas companies in the world

Business in Russia

In Russia, there is a representative office of Chevron Neftegaz, Inc.

127051, Moscow, Rakhmanovsky Lane, 4. Tel: + 7.495.258.2700 Fax: + 7.495.258.2727

Chevron does not intend to stop pumping oil from Kazakhstan through Russian territory, said Mike Wirth, chairman of the company's board of directors, in an interview with Fox News in December 2022.

History

2024

Moving headquarters from California to Texas

In July 2024, it was announced that oil company Chevron would move its headquarters from California to Texas, becoming the latest corporate renegade amid a standoff between the state and its business community over bureaucratic delays.

Investing in Peripheral Computing Developer Zededa

In February 2024, it became known about investing $72 million in Zededa. The funding round was led by Smith Point Capital, a venture capital fund created by former Salesforce CEO Keith Block. Read more here.

2023

Purchase of Hess for $53 billion with fields in Guyana

In October 2023, Chevron agreed to purchase Hess in a deal worth $53 billion, the last major consolidation in the US oil industry.

Thus, Chevron gained access to the largest oil fields in Guyana, which is already called one of the "most promising assets" in the company's portfolio.

This is the second major deal in the US oil industry in the last few weeks. Exxon Mobil agreed to buy for $58 billion Pioneer Natural Resources Co., which produces shale oil, which confirms confidence that oil and gas will remain the main ones in the global energy balance for several more decades.

Chevron bought PDC Energy

On May 22, 2023, the American energy corporation Chevron announced the conclusion of an agreement on the acquisition of the oil and gas company PDC Energy. The total amount of the transaction will be more than $7.5 billion. Read more here.

Chevron sent the first ships with oil produced in Venezuela to the United States

Chevron in January 2023 sent the first ships with oil produced in Venezuela to the United States.

Creation of Ras Laffan Petrochemicals with Qatar Energy

On January 8, 2023, Qatar Energy and Chevron Phillips Chemical signed agreements for $6 billion to develop a joint oil and gas chemical project in the city of Ras Laffan, which will become the largest of its kind in the Middle East. The project will optimize the utilization of ethane manufactured at the liquefied natural gas plant. The new company was named Ras Laffan Petrochemicals. Read more here.

2022: US authorities allow Chevron to resume oil and petroleum products supplies from Venezuela

In November 2022, the US authorities allowed the American company Chevron to resume deliveries of oil and oil products from Venezuela. The decision was made against the background of the conflict in Ukraine and attempts to reduce oil exports and Russia.

2020: Chevron buys rival Noble Energy for $5bn

In July 2020, the American Chevron, one of the largest oil and gas companies in the United States, agreed to buy another company from this sector - Noble Energy, Chevron said in a statement.

Settlement of the transaction will be carried out in shares. So, in accordance with the terms of the agreement, Noble Energy shareholders will receive 0.1191 Chevron shares for each Noble Energy share. After the deal closes, Noble Energy shareholders will own approximately 3% of the combined company.

The value of the transaction is estimated at 5 billion dollars or 10.38 dollar in terms of share. "The total value of the deal, including debt, is $13 billion," the company adds.

1957

Tanker at Chevron gas station. Judging by the advertising banner of high-octane gasoline, this is about 1957.

1879: Founding of Pacific Coast Oil Company

The company was founded in California in 1879 under the name Pacific Coast Oil Company.