76-717: Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas . The second-largest direct descendant of Standard Oil , and originally known as the Standard Oil Company of California (shortened to Socal or CalSo ), it is active in more than 180 countries. Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration , production , refining , marketing and transport, chemicals manufacturing and sales, and power generation . Founded originally in Southern California during
152-868: A shale oil extraction process named Chevron CRUSH . In 2006, the United States Department of the Interior issued a research, development and demonstration lease for Chevron's demonstration oil shale project on public lands in Colorado's Piceance Basin . In February 2012, Chevron notified the Bureau of Land Management and the Department of Reclamation, Mining and Safety that it intended to divest this lease. Starting in 2010, Chevron began to reduce its retail footprint and expand in domestic natural gas. In July 2010, Chevron ended retail operations in
228-536: A 30 percent holding in its Canadian oil shale holdings to Kuwait 's state-owned oil company Kuwait Oil Company for a fee of $ 1.5 billion. Despite these sales, Chevron continued to explore acquisitions, a trend which had reinvigorated in 2019 and extended throughout the COVID-19 pandemic . In April 2019, Chevron announced its intention to acquire Anadarko Petroleum in a deal valued at $ 33 billion, but decided to focus on other acquisitions shortly afterwards when
304-568: A combined 400,000 barrels per day.from two offshore projects. With the potential to develop 10 more projects, Guyana becomes one of the fastest-growing oil regions that Chevron now has access to. In 2023, Chevron entered into a 10-year agreement with state-owned Hindustan Petroleum Corporation Ltd (HPCL) to license, manufacture, distribute and sell Chevron lubricants in India under the Caltex brand. In August 2024, Chevron earmarked $ 1 billion in
380-525: A combined market value of approximately $ 95 billion. Completed on October 9, 2001, Chevron temporarily renamed itself to ChevronTexaco between 2001 and 2005; after the company reverted its name to Chevron, Texaco became used as a brand by the company for some of its fueling stations. 2005 also saw Chevron purchase Unocal Corporation for $ 18.4 billion, increasing the company's petroleum and natural gas reserves by about 15%. Because of Unocal's large South East Asian geothermal operations, Chevron became
456-561: A company that provides portable carbon capture technology for the oil field and other industrial facilities. Two years later, Chevron announced that they will acquire Renewable Energy Group , a biodiesel production company based in Ames, Iowa . The acquisition was completed just under four months later on June 13. In the Americas, Chevron acquired natural gas company Beyond6, LLC (B6) and its network of 55 compressed natural gas stations across
532-474: A deal could not be reached. Despite the failed acquisition of Andarko, Chevron did acquire Noble Energy for $ 5 billion in July 2020. Chevron was not spared from the pandemic, however, as Chevron announced reductions of 10–15% of its workforce due to both the pandemic and a 2020 oil price war between Russia and Saudi Arabia . During the pandemic, Chevron considered a merger with rival ExxonMobil in 2020 during
608-593: A domestic gas plant with the capacity to provide 300 terajoules per day to supply gas to Western Australia. It is also developing the Wheatstone liquefied natural gas development in Western Australia. The foundation phase of the project is estimated to cost $ 29 billion; it will consist of two LNG processing trains with a combined capacity of 8.9 million tons per annum, a domestic gas plant and associated offshore infrastructure. In August 2014
684-711: A joint venture with California Standard named Caltex , to drill and produce oil in Saudi Arabia . According to energy analyst and activist shareholder Antonia Juhasz , the Texas Fuel Company and California Standard were often referred to as the "terrible twins" for their cutthroat business practices. In 1911, the federal government broke Standard Oil into several pieces under the Sherman Antitrust Act . One of those pieces, Standard Oil Co. (California), went on to become Chevron. It became part of
760-901: A joint-venture in Pasir Gudang . Caltex Oil Malaysia Limited changed its name to Chevron Malaysia Limited in 2005. Caltex first started in New Zealand as the Star Oil Company in 1920, which was registered and established to import and distribute fuel oils from the USA under the Texaco brand. Lubricating products were handled by the Texas Company Australasia Limited (i.e. predecessor of Caltex Australia) while refined products such as petrol and kerosene were distributed by Star Oil Company under agreement with
836-627: A key role in helping Nicolas Maduro's government dodge US economic sanctions, using his Syrian and Lebanese parentage to open up new business channels to Iran and Turkey . On January 5, 2022, Chevron temporarily decreased production in Kazakhstan 's Tengiz Field due to the 2022 Kazakh protests , which were motivated by heavy oil price increases. Later that month, Chevron also announced it would end all operations in Myanmar , citing rampant human rights abuses and deteriorating rule of law since
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#1732801104649912-546: A large producer of geothermal energy . The deal did not include Unocal's former retail operations including the Union 76 trademark, as it had sold that off to Tosco Corporation in 1997. The 76 brand is owned by Phillips 66 , unaffiliated with Chevron. Chevron and the Los Alamos National Laboratory started a cooperation in 2006, to improve the recovery of hydrocarbons from oil shale by developing
988-677: A license to the Gulf trademark in the Northeastern United States since 1986. In 1996, Chevron transferred its natural gas gathering, operating and marketing operation to NGC Corporation (later Dynegy) in exchange for a roughly 25% equity stake in NGC. In a merger completed February 1, 2000, Illinova Corp. became a wholly owned subsidiary of Dynegy Inc. and Chevron's stake increased up to 28%. However, in May 2007, Chevron sold its stake in
1064-591: A lubricants manufacturing plant and laboratory in Durban . Prior to the rebranding, a quarter of Caltex's service stations were located in South Africa, making it one of the country's top five petroleum brands. Caltex had been criticized frequently in the region. GS Caltex is Caltex's joint venture with GS Group (previously split off from LG Corporation ) in South Korea. It was founded in May 1967 as
1140-464: A new research and development (R&D) hub called Chevron Engineering and Innovation Excellence Center (ENGINE) in Bengaluru , India. The first logo featured the legend "Pacific Coast Oil Co.", the name adopted by the company when it was established in 1879. Successive versions showed the word 'Standard' (for "The Standard Oil of California"). In 1968, the company introduced the word 'Chevron' (which
1216-512: A regional headquarters there as of 2013, partially for Marcellus Shale -related drilling. The same year, Standard Oil of California also took the opportunity to change its legal name to Chevron Corporation , since it had already been using the well-known "Chevron" retail brand name for decades. Chevron would sell the Gulf Oil trademarks for the entire U.S. to Cumberland Farms , the parent company of Gulf Oil LP , in 2010 after Cumberland Farms had
1292-671: A significant gas-condensate discovery at the Lasseter-1 exploration well in WA-274-P in Western Australia, in which Chevron has a 50% interest was announced. The company also has an interest in the North West Shelf Venture , equally shared with five other investors including BP , BHP Petroleum , Shell , Mitsubishi / Mitsui and Woodside . Presently, Chevron is looking to convert its Gorgon Island operations from upstream production to carbon capture and storage . In
1368-476: A subsidiary known as Z Energy 2015 Limited. The Caltex-branded retail network would remain independently owned and operated, with operators setting their own retail fuel prices. Z would supply wholesale fuel to the network. The Caltex brand in New Zealand would also continue to be used by Z under a five-year licensing agreement with Chevron International. The licensing agreement was renewed in March 2022 for Z to use
1444-19058: Is a list of notable companies in the petroleum industry that are engaged in petroleum exploration and production. The list is in alphabetical order by continent and then by country. This list does not include companies only involved in refining and marketing. Africa Company Country Naftal [REDACTED] Algeria Sonatrach Sonangol Group [REDACTED] Angola Société Nationale des Pétroles du Congo [REDACTED] Congo Star Africa Commodities & Minerals Limited [REDACTED] Ghana Egyptian General Petroleum Corporation [REDACTED] Egypt EGAS Arabian Gulf Oil Company [REDACTED] Libya National Oil Corporation Madagascar Oil [REDACTED] Madagascar Aiteo [REDACTED] Nigeria Lekoil Nigeria Limited Dangote Nigerian National Petroleum Corporation PetroSA [REDACTED] South Africa Sasol Gigajoule International Wozani Berg Gasoline EasiGas Engen Petroleum iGas Imvume Total South Africa Sudapet [REDACTED] Sudan Tanzania Petroleum Development Corporation [REDACTED] Tanzania Entreprise Tunisienne d'Activités Pétrolières [REDACTED] Tunisia Asia Company Country Azerbaijan International Operating Company [REDACTED] Azerbaijan SOCAR Nobel Oil Group Brunei Shell Petroleum [REDACTED] Brunei Bahrain Petroleum Company [REDACTED] Bahrain Petrobangla [REDACTED] Bangladesh Myanma Oil and Gas Enterprise [REDACTED] Myanmar CNOOC [REDACTED] China China National Petroleum Corporation CITIC Resources Geo-Jade Petroleum Shaanxi Yanchang Petroleum Sinochem China Petrochemical Corporation Southernpec The Hong Kong and China Gas Company United Energy Group Indian Oil Corporation Limited [REDACTED] India Oil and Natural Gas Corporation Oil India Bharat Petroleum Hindustan Petroleum Nayara Energy Reliance Industries Cairn India GAIL Gujarat State Petroleum Corporation MedcoEnergi [REDACTED] Indonesia Pertamina National Iranian Oil Company [REDACTED] Iran North Oil Company [REDACTED] Iraq South Oil Company Missan Oil Company Midland Oil Company Delek [REDACTED] Israel Isramco Modiin Energy Eneos [REDACTED] Japan Inpex JAPEX KazMunayGas [REDACTED] Kazakhstan Kuwait Petroleum Corporation [REDACTED] Kuwait Consolidated Contractors Company [REDACTED] Lebanon Petronas [REDACTED] Malaysia Petroleum Development Oman [REDACTED] Oman Oil and Gas Development Company [REDACTED] Pakistan Pakistan Petroleum Pakistan Oilfields Mari Petroleum Company Limited Petron Corporation [REDACTED] Philippines Philippine National Oil Company QatarEnergy [REDACTED] Qatar Saudi Aramco [REDACTED] Saudi Arabia Singapore Petroleum Company [REDACTED] Singapore Ceylon Petroleum Corporation [REDACTED] Sri Lanka Korea National Oil Corporation [REDACTED] South Korea Korea Gas Corporation CPC Corporation [REDACTED] Taiwan PTT [REDACTED] Thailand Thai Oil Türkiye Petrolleri Anonim Ortaklığı [REDACTED] Turkey Çalık Enerji Aladdin Middle East Ltd. ("AME") Abu Dhabi National Oil Company [REDACTED] United Arab Emirates Emirates National Oil Company Uzbekneftegaz [REDACTED] Uzbekistan Petrovietnam [REDACTED] Vietnam Vietsovpetro Europe Company Country OMV [REDACTED] Austria RAG Petrol AD [REDACTED] Bulgaria INA – Industrija Nafte [REDACTED] Croatia Moravské naftové doly [REDACTED] Czech Republic Ørsted A/S [REDACTED] Denmark Atlantic Petroleum [REDACTED] Faroe Islands Neste [REDACTED] Finland TotalEnergies [REDACTED] France Engie Perenco [REDACTED] France [REDACTED] United Kingdom Wintershall DEA [REDACTED] Germany Hellenic Petroleum [REDACTED] Greece MOL Group [REDACTED] Hungary Maxol [REDACTED] Ireland Anonima Petroli Italiana [REDACTED] Italy Edison Eni Erg Saras S.p.A. Ascom Group [REDACTED] Moldova Makpetrol [REDACTED] North Macedonia Aker BP [REDACTED] Norway Bayerngas DNO ASA Equinor InterOil Noreco Rocksource Grupa Lotos [REDACTED] Poland PGNiG PKN Orlen Galp Energia [REDACTED] Portugal Partex Oil and Gas OMV Petrom [REDACTED] Romania Rompetrol Bashneft [REDACTED] Russia Gazprom Itera Lukoil Novatek Rosneft Rusneftegaz Russneft Sakhalin Energy Surgutneftegas Tatneft Naftna Industrija Srbije [REDACTED] Serbia Cepsa [REDACTED] Spain Repsol Lundin Energy [REDACTED] Sweden Naftogaz [REDACTED] Ukraine BP [REDACTED] United Kingdom Cairn Energy Centrica Dana Petroleum Premier Oil Regal Petroleum Shell Tullow Oil North America Company Country ARC Resources [REDACTED] Canada Baytex Energy Canadian Natural Resources Cenovus Energy Crescent Point Energy Enbridge Enerplus First Calgary Petroleums Frontera Energy Imperial Oil Irving Oil MEG Energy Nalcor Energy Obsidian Energy Questerre Ridgeback Resources Suncor Energy Syncrude ShaMaran Petroleum TC Energy Vermilion Energy Cuba Petróleo Union [REDACTED] Cuba Uno [REDACTED] Honduras Pemex [REDACTED] Mexico Petrotrin [REDACTED] Trinidad and Tobago Antero Resources [REDACTED] United States APA Corporation Berry Corporation Blacksands Pacific California Resources Corporation Chevron Corporation Chord Energy CNX Resources ConocoPhillips Continental Resources Coterra Devon Energy Diamondback Energy EOG Resources EQT Corporation Expand Energy ExxonMobil Greka Energy Hess Corporation HKN, Inc. Koch Industries Laredo Petroleum Marathon Oil Murphy Oil Occidental Petroleum Ovintiv Range Resources SandRidge Energy Shell Oil Company SM Energy Valero Energy Vaalco Energy XTO Energy Oceania Company Country Australian Worldwide Exploration (AWE) [REDACTED] Australia BHP Origin Energy Santos Woodside Energy Todd Corporation [REDACTED] New Zealand Oil Search [REDACTED] Papua New Guinea South America Company Country Bridas Corporation [REDACTED] Argentina Enarsa YPF YPFB [REDACTED] Bolivia Dommo Energia [REDACTED] Brazil Ipiranga Synergy Group Petrobras Empresa Nacional del Petróleo [REDACTED] Chile Empresas Copec Ecopetrol [REDACTED] Colombia Petroecuador [REDACTED] Ecuador Petropar [REDACTED] Paraguay Petroperú [REDACTED] Peru ANCAP [REDACTED] Uruguay PDVSA [REDACTED] Venezuela See also [ edit ] [REDACTED] Energy portal List of largest oil and gas companies by revenue List of oilfield service companies References [ edit ] v t e Petroleum industry Petroleum Primary energy Benchmarks Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western Canadian Select Data Natural gas Consumption Production Reserves Imports Exports Price Petroleum Consumption Production Reserves Imports Exports Posted oil price Price of gasoline and diesel Exploration Core sampling Geophysics Integrated asset modelling Petroleum engineering Reservoir simulation Reservoir modeling Petroleum geology Petrophysics Reflection seismology Seismic inversion Seismic source Drilling Blowout Completion Squeeze job Differential sticking Directional drilling Geosteering Drill stem test Drilling engineering Drilling fluid invasion Lost circulation Measurement Shale oil extraction Ljungström method Tracers Underbalanced drilling Well logging Production Petroleum fiscal regime Concessions Production sharing agreements Artificial lift Gas lift Pumpjack Submersible pump (ESP) Downstream Enhanced oil recovery (EOR) Gas reinjection Steam injection Midstream Petroleum product Pipeline Refining Upstream Water injection Well intervention XT History 1967 Oil Embargo 1973 oil crisis 1979 oil crisis 1980s oil glut 1990 oil price shock 2000s energy crisis 2010s oil glut 2020 Russia–Saudi Arabia oil price war Nationalization GECF OPEC Seven Sisters Standard Oil Canada France India Iraq Norway Saudi Arabia United States Venezuela Provinces and fields List of natural gas fields List of oil fields Caspian Sea East Midlands Oil Province East Texas Gulf of Mexico Niger Delta North Sea Permian Basin Persian Gulf Prudhoe Bay Russia Venezuela Western Canadian Sedimentary Basin Other topics Abbreviations Classification sweet oil sour oil Oil shale gas Orphan wells Peak oil fossil fuel phase-out timing Petrocurrency Petrodollar recycling Petrofiction Shale band Shale gas Swing producer Unconventional (oil and gas) reservoir heavy crude oil sands oil shale tight oil Companies and organisations Major petroleum companies Supermajors BP Chevron Eni ExxonMobil Shell TotalEnergies National oil companies Abu Dhabi National Oil Company ANCAP Bharat Petroleum China National Offshore Oil Corporation China National Petroleum Corporation Ecopetrol Equinor Gazprom Hindustan Petroleum Indian Oil Corporation Iraq National Oil Company KazMunayGas Kuwait Petroleum Corporation Lotos Naftogaz National Iranian Oil Company National Iranian South Oil Company NNPC Limited Oil & Gas Development Company Oil and Natural Gas Corporation Orlen PDVSA Pemex Pertamina Petrobangla Petrobras PetroChina Petronas Petrovietnam PTT Public Company Limited QatarEnergy Rosneft Saudi Aramco Sinopec SOCAR Sonangol Sonatrach TPAO YPF Energy trading Enron Glencore Gunvor Mercuria Naftiran Intertrade Trafigura Vitol Others APA Corporation Cenovus Energy Cepsa ConocoPhillips Devon Energy Eneos Holdings Galp Energia Hess Corporation Husky Energy Imperial Oil Lukoil Marathon Oil Marathon Petroleum Occidental Petroleum OMV Phillips 66 Port Harcourt Refining Company Reliance Industries Repsol Suncor Energy Sunoco Surgutneftegas TechnipFMC TNK-BP Tullow Oil Tüpraş Valero Energy Major services companies Amec Foster Wheeler Baker Hughes Cameron International CGG CH2M Chicago Bridge & Iron Company China Oilfield Services Enbridge GE Power Halliburton Nabors Industries Naftiran Intertrade NOV Inc. Petrofac Saipem Schlumberger Snam Subsea 7 TC Energy Transocean Valaris Limited Weatherford International John Wood Group Others American Petroleum Institute Canadian petroleum companies Intercontinental Exchange Futures International Association of Oil & Gas Producers International Energy Agency Society of Petroleum Engineers World Petroleum Council [REDACTED] Category v t e Companies by industry Apparel Fitness wear Lingerie Socks Sporting goods Swimwear Energy Chemical Oil and gas Oil exploration and production Oilfield service Public utilities Solar thermal power Finance Asset management Banks international investment Hedge funds Private equity Stock exchanges Venture capital Food and beverages Beer and breweries Casual dining Champagne houses Cheesemakers Chocolate Coffee Coffeehouses Fast food Food Ice cream parlors Pizza Restaurant chains Revolving Soft drinks Tea Vineyards and wineries Healthcare Biotechnology Health club Pharmaceutical Manufacturing Aerial lift Aircraft Astronomical instruments Automobile Bicycles CIGS Cymbals Dump trucks Horns Locomotive Microphone Modern armament Motorcycles Radio-controlled model aircraft kits Rolling stock Scooters Semiconductor IP core Solid-state drives Steel Stuffed toys Touch input Traction motors Tractors Tram Wind turbines Media and entertainment Animation anime Cable television Children's book publishers Film production Pornography Record labels Satellite television Television networks Video games Retail Book clubs Bookstores chains independent feminist Convenience Cooperatives Department Games Hypermarkets Pharmacies Supermarkets Superstores Services Casinos Construction equipment rental Hotels Law firms Management consulting Marketing research Sports Cycling Disc golf Golf Mountaineering Skateboarding Skiing Swimming Technology Advertising technology Automation integrator Computer-aided design Computer hardware Computer systems laptops Consumer electronics Electric-vehicle batteries Electronic design automation Flash memory controllers Defunct graphics chips and cards Hard disk drives defunct Photovoltaics Semiconductors Silicon Telecommunications VoIP Transportation Airlines charter defunct flag holding low-cost passenger regional Bus Cruise lines Ferry Railway Ship automobile freight passenger Miscellaneous Lists of companies Retrieved from " https://en.wikipedia.org/w/index.php?title=List_of_oil_exploration_and_production_companies&oldid=1249300896 " Categories : Lists of energy companies Oil companies Oil exploration Hidden categories: Articles with short description Short description
1520-634: Is also the last-remaining oil-and-gas component of the Dow Jones Industrial Average since ExxonMobil's exit from the index in 2020. Chevron has been subject to numerous controversies . One of Chevron's early predecessors, "Star Oil", discovered oil at the Pico Canyon Oilfield in the Santa Susana Mountains north of Los Angeles in 1876. The 25 barrels of oil per day well marked the discovery of
1596-595: Is different from Wikidata Caltex Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East , and Southern Africa . Headquartered in Singapore , it is also the brand name of non-Chevron petroleum companies in some countries (such as New Zealand, and previously Australia and South Africa) under a trademark licensing agreement with Chevron. Caltex
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#17328011046491672-519: Is poised to be the world's largest storage facility for hydrogen in renewable energy . In October 2023, Chevron Corporation acquired Hess Corporation in an all-stock deal for $ 53 billion. The acquisition, which was announced on October 23, 2023, opens up new opportunities in the US shale plays and in oil-rich Guyana . Hess Corp, Exxon Mobil and China 's CNOOC , key players in Guyana, have been producing
1748-635: Is the owner of the Standard Oil trademark in 16 states in the western and southeastern United States. Since American trademark law operates under a use-it-or-lose-it rule, the company owns and operates one Standard-branded Chevron station in each state of the area. However, though Chevron (as CalSo) acquired Kyso in the 1960s, its status in Kentucky is unclear after Chevron withdrew its brand from retail sales from Kentucky in July 2010. The 'Chevron' name came into use for some of its retail products in
1824-852: Is used in 29 countries in the Eastern Hemisphere. Texas Company (later Texaco ) products were first sold in Australia in 1900. Texas Company (Australasia) Limited was incorporated in New South Wales in 1918, with operations across Australia and New Zealand. The Caltex brand name began to be used for the first time in Australia when Texas Company (Australasia) Limited changed its name to Caltex Limited five years later on 2 January 1941. Until 1995, Caltex Australia Limited operated though its subsidiary Caltex Oil (Australia) Pty Ltd. During this time, Caltex Australia also acquired Golden Fleece in 1981. It also floated 25% of its shares to
1900-1034: Is well known for its slogan "the human energy company", a campaign first launched in September 2007. In a corporate blog, Chevron states "human energy" was chosen as their campaign's slogan and focus because "human energy captures our positive spirit in delivering energy to a rapidly changing world". The slogan remains prominent in Chevron advertising, and Chevron has derived from this slogan to use phrases in marketing such as "it's only human". As of December 31, 2018, Chevron had approximately 48,600 employees (including about 3,600 service station employees). Approximately 24,800 employees (including about 3,300 service station employees), or 51 percent, were employed in U.S. operations. Chevron's dominant regions of production are North America, which produces 1.2 billion barrels of oil equivalent (BBOE), and Eurasia, which produces 1.4 BBOE. Chevron's Eurasian-Pacific operations are concentrated in
1976-555: The 2021 Myanmar coup d'état . A statement released by the company on its website stated while Chevron was committed to an orderly exit which ensured it could still provide energy to Southeast Asia, Chevron remained firmly opposed to the human rights violations committed by the current military rule in Myanmar . Also in 2022, Chevron was reported to explore the sale of stakes in three fields located in Equatorial Guinea . It
2052-713: The OTR stores from Peregrine Corporation . In exchange, Viva received 13 Chevron sites located in Queensland, New South Wales and Western Australia. Texaco marketed lubricants began to be sold in Cambodia in 1924. Caltex Cambodia Limited was incorporated in 1995, with the first service station opened in Pochentong, Phnom Penh in 1996. The first Star Mart store in Cambodia opened the following year in 1997. The company changed its name to Chevron (Cambodia) Limited in 2008, with
2128-454: The Rosebank oil and gas field west of Shetland was being evaluated by Chevron and its partners. Chevron drilled its discovery well there in 2004. Production was expected in 2015 if a decision was made to produce from the field. The geology and weather conditions are challenging. List of oil exploration and production companies The following
2204-406: The U.S. Department of Justice and U.S. Environmental Protection Agency , Chevron and Phillips failed to properly flare at the plants, causing excess air pollution. The companies agreed to add pollution control systems to the plants as well. Despite the major oil and gas companies, including Chevron, reporting sharp rises in interim revenues and profits due to Russia's 2022 invasion of Ukraine ,
2280-654: The United Kingdom , Southeast Asia , Kazakhstan , Australia , Bangladesh , and greater China . Chevron additionally operates in South America, the west coast of sub-Saharan Africa (mainly Nigeria and Angola ), Egypt , and Iraq ; these four regions collectively produce 0.4 BBOE. Chevron's largest revenue products are shale and tight , though produces considerable revenue from heavy oil , deepwater offshore drilling , conventional oil, and liquefied natural gas . In October 2015, Chevron announced that it
2356-735: The breakup of Standard Oil by continuing to acquire companies and partnering with others both inside and outside of California, eventually becoming one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s. In 1985, Socal merged with the Pittsburgh-based Gulf Oil and rebranded as Chevron; the newly merged company later merged with Texaco in 2001. Chevron manufactures and sells fuels, lubricants, additives, and petrochemicals, primarily in Western North America ,
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2432-544: The " Seven Sisters ", which dominated the world oil industry in the early 20th century. In 1926, the company changed its name to Standard Oil Co. of California (SOCAL). By the terms of the breakup of Standard Oil, at first Standard of California could use the Standard name only within its original geographic area of the Pacific coast states, plus Nevada and Arizona; outside that area, it had to use another name. Today, Chevron
2508-536: The "Pacific Coast Oil Company", which acquired the assets of Star Oil with $ 1 million in funding. Pacific Coast Oil eventually became the largest oil interest in California, and in 1900, John D. Rockefeller 's Standard Oil acquired Pacific Coast Oil for $ 761,000. In 1906, the Pacific Coast acquired the business operations and assets of the Standard Oil Company (Iowa) . At this time, Pacific renamed itself
2584-584: The 1870s, the company was then based for many decades in San Francisco, California , before moving its corporate offices to San Ramon, California , in 2001; and on August 2, 2024, Chevron announced that it would be relocating its headquarters from California to Houston, Texas , by 2025. Chevron traces its history back to the second half of the 19th century to small California-based oil companies which were acquired by Standard and merged into Standard Oil of California. The company grew quickly on its own after
2660-418: The 1930s. The name "Calso" was also used from 1946 to 1955, in states outside its native West Coast territory. Standard Oil Company of California ranked 75th among United States corporations in the value of World War II military production contracts. In 1933, Saudi Arabia granted California Standard a concession to find oil, which led to the discovery of oil in 1938. In 1948, California Standard discovered
2736-501: The Australian public the same year, the first multinational oil company to do so in Australia. In May 1995, Caltex Oil (Australia) Pty Ltd was merged with its rival Ampol Limited to form Australian Petroleum Pty Ltd, owned equally by Caltex Australia Limited and Ampol's parent Pioneer International . The Caltex brand was also planned to be retired and replaced by Ampol, but this never eventuated. In 1997, Pioneer planned to leave
2812-516: The Biden administration as well as from news commentators within the United States. The 2020s also saw efforts by Chevron to expand into the clean energy industry. Across the 2020s, Chevron invested stakes into fusion power companies, the two largest of them being Zap Energy and TAE Technologies . September 2023 saw Chevron acquire a majority stake in a Utah hydrogen storage facility, which
2888-455: The Caltex brand at the same time. After that date, Ampol would no longer be authorised to use the Caltex brand. That meant the rebranding to Ampol had to be completed by 31 December 2022. In November 2019, Chevron announced that it would re-enter the Australian downstream market with the acquisition of Puma Energy 's Australian operations via its subsidiary Chevron Australia Downstream, with
2964-550: The Caltex brand for another five years. As of November 2022 , there are more than 140 Caltex branded service stations and 70 truck stops around New Zealand. In 2015, Total Parco announced that it would acquire and rename Caltex petrol pumps in Pakistan by an investment between US$ 200 million and US$ 250 million . Caltex was established in the Philippines in 1917 when Texas Company began marketing its products in
3040-624: The Caltex brand still remaining in use. In October 2005, Caltex Oil Hong Kong Limited changed its name to Chevron Hong Kong Limited. As of November 2022 , there are 32 Caltex stations in the territory. Caltex had a subsidiary in India in the early 1940s through the early 1980s, however as state owned corporation Indian Oil came in to market, strategically Caltex decided to reduce its operation in India. In State of Gujarat there were 2 major dealers of Caltex, T.C. Brothers Company (Saurashtra region) and MS. N. K. Sheth Co. The CEO of T.C. Brothers Co,
3116-547: The Gulf of Mexico. As of December 31, 2018, the company's upstream business reported worldwide net production of 2.930 million oil-equivalent barrels per day. In the United States, the company operates approximately 11,000 oil and natural gas wells in hundreds of fields occupying 4,000,000 acres (16,000 km) across the Permian Basin , located in West Texas and southeastern New Mexico . In 2010, Chevron
Chevron Corporation - Misplaced Pages Continue
3192-786: The Mid-Atlantic United States by removing the Chevron and Texaco names from 1,100 stations. In 2011, Chevron acquired Pennsylvania-based Atlas Energy Inc. for $ 3.2 billion in cash and an additional $ 1.1 billion in existing debt owed by Atlas. Three months later, Chevron acquired drilling and development rights for another 228,000 acres in the Marcellus Shale from Chief Oil & Gas LLC and Tug Hill, Inc. In September 2013, Total S.A. and its joint-venture partner agreed to buy Chevron's retail distribution business in Pakistan for an undisclosed amount. In October 2014, Chevron announced that it would sell
3268-491: The Newhall Field, and is considered by geophysicist Marius Vassiliou as the beginning of the modern oil industry in California. Energy analyst Antonia Juhasz has said that while Star Oil's founders were influential in establishing an oil industry in California, Union Mattole Company discovered oil in the state eleven years prior. In September 1879, Charles N. Felton , Lloyd Tevis , George Loomis and others created
3344-675: The Northern Territory and northern Western Australia were sold to South Australian-based OTR , with Caltex fuel to be supplied at these stations. Early in 2024, Chevron finalised an agreement to purchase most of Viva Energy's Coles Express -branded outlets in South Australia. That followed a Viva undertaking made to the Australian Competition and Consumer Commission to dispose of 25 Coles Express outlets in South Australia as part of Viva's acquisition of
3420-519: The Philippines through a local distributor, Wise and Co. In 1921, Texaco (Philippines) was formally established and opened its office in Binondo, Manila . Eleven years later, its Pandacan oil depot was converted into a key distribution terminal to bring products by barge to nearby provinces. Caltex has nearly 600 stores in the Philippines. Caltex began in Singapore when Texas Company (China) Ltd
3496-510: The Pittsburgh-based natural gas firm EQT Corporation in 2020. Chevron's largest single resource project is the $ 43 billion Gorgon Gas Project in Australia. It also produces natural gas from Western Australia. The $ 43 billion project was started in 2010, and was expected to be brought online in 2014. The project includes construction of a 15 million tonne per annum liquefied natural gas plant on Barrow Island , and
3572-836: The Standard Oil Company (California). Since the acquisition of the Pacific Coast Oil Company by Standard Oil, the Standard descendant had traditionally worked closely with Texaco for 100 years, before acquiring Texaco outright in 2001. Originally known as the Texas Fuel Company (later the Texas Company), Texaco was founded in Beaumont, Texas , as an oil-equipment vendor by "Buckskin Joe". The founder's nickname came from being harsh and aggressive. Texas Fuel worked closely with Chevron. In 1936, it formed
3648-422: The Texas Company. Service stations selling Texaco fuel began in the early 1930s. When Caltex was established globally in 1936, Texaco signage was changed at service stations to the new name. However, it was not until 12 January 1945 when Caltex Oil (N.Z.) Limited was registered and incorporated. New Zealand was the first country where Caltex sold Boron fuel, which had been sold in the country for two years under
3724-403: The Tombua–Landana development and the Mafumeira Norte project, operated by the company. It is also a leading partner in Angola LNG plant . In Kazakhstan , Chevron participate the Tengiz and Karachaganak projects. In 2010, Chevron became the largest private shareholder in the Caspian Pipeline Consortium pipeline, which transports oil from the Caspian Sea to the Black Sea . As of 2013,
3800-434: The US Gulf Coast , Southeast Asia, South Korea and Australia. In 2018, the company produced an average of 791,000 barrels (125,800 m) of net oil-equivalent per day in United States. Chevron is one of the largest companies in the world and the second-largest oil company based in the United States by revenue, only behind fellow Standard Oil descendant ExxonMobil . Chevron ranked 10th on the Fortune 500 in 2023. The company
3876-714: The United States from Mercuria in November 2022. However, Chevron's largest American moves in the 2020s were in Venezuela , as the Biden administration relaxed restrictions on Chevron from pumping oil in the South American nation, originally imposed due to corruption scandals and human rights violations by Venezuelan president Nicolás Maduro . The relaxed restrictions, however, came with severe limitations, including provisions which prohibited Chevron from selling to Russian or Iranian-affiliated agencies and from allowing any direct profits to go to Venezuelan oil company PDVSA . On November 29, 2022, Venezuelan Government Petroleum Minister Tarek El Aissami met in Caracas , Venezuela, with
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#17328011046493952-481: The acquisition completed in July 2020. In early 2022, after the Caltex brand was no longer exclusive to Ampol (non-exclusivity period), Chevron began to relaunch Caltex in Australia with the opening of new Caltex stations or rebranding from existing Puma service stations. The relaunched Caltex uses Techron in line with other Chevron Corporation and Caltex stations globally. The Caltex brand is solely used by Chevron Australia since 2023. In early 2023, 17 Puma stations in
4028-427: The beginning of 2006, there were 20 stand-alone Star Marts throughout the country. In 2009, the stand-alone stores were sold off and rebranded as Fix; remaining Fix stores were rebranded as Night 'n Day in 2017. In May 2006, Caltex New Zealand Limited announced it would change its name to Chevron New Zealand, in line with its parent company. In June 2016, Chevron New Zealand was acquired by Z Energy and became
4104-400: The case of Petroboscán, current production is nil and, in Petropiar, current records indicate close to 50,000 barrels per day. On March 20, 2023, Tareck El Aissami resigned from his government post amid serious corruption allegations. Moreover, El Aissami, a longtime Maduro ally, has a $ 10mn US government reward on his head for allegedly facilitating drug trafficking from Venezuela. He played
4180-400: The company at AU$ 9.24 billion), but allowing Caltex Australia to continue using the Caltex brand. In December 2019, Caltex announced that Chevron had given notice to terminate the licence agreement for the use of the Caltex brand in Australia, effective from 30 June 2020. Caltex Australia was renamed Ampol Limited during the annual general meeting in May 2020. Ampol would have to cease using
4256-408: The company for approximately $ 985 million, resulting in a gain of $ 680 million. The early 2000s saw Chevron engage in many mergers, acquisitions, and sales. The first largest of which was the $ 45 billion acquisition of Texaco , announced on October 15, 2000. The acquisition created second-largest oil company in the United States and the world's fourth-largest publicly traded oil company with
4332-511: The country. Chevron South Africa (CSA), who operated the Caltex brand in the country and neighbouring country of Botswana, was acquired by Glencore and Off the Shelf Investments (OTS) in September 2018 and was rebranded as Astron Energy. Astron Energy then continued to operate the Caltex brand under a license agreement with Chevron. The 850 Caltex service stations in South Africa and Botswana began to be rebranded as Astron in September 2022. Glenore owns 72% of Astron Energy South Africa, with
4408-526: The early stages of the COVID-19 pandemic that drove oil demand sharply down. It would have been one of the largest corporate mergers in history, and a combined Chevron and ExxonMobil (dubbed "Chexxon" by Reuters ) would have been the second-largest oil company in the world, trailing only Saudi Aramco . Later in the pandemic, Chevron began requiring some employees, namely expatriate employees, those working overseas, and workers on U.S.-flagged ships, to receive COVID-19 vaccinations after having some key operations,
4484-417: The licensed Caltex trademarks thirty months ("work-out period") after the termination of the trademark licence agreement (30 June 2020). The first part of the work-out period was an 18-month "exclusivity period" where Ampol had exclusive rights to use the Caltex brand until 31 December 2021. The remaining twelve months until 31 December 2022 was a "non-exclusivity period", where both Chevron and Ampol could use
4560-400: The name Caltex shortened from its original name in 1968, and was eventually known as Caltex Corporation prior to the Chevron-Texaco merger. After the merger, the former joint venture became a wholly-owned subsidiary of the merged company and changed its corporate name to ChevronTexaco Global Energy Inc , now Chevron Global Energy Inc . Caltex timeline: As of 2015 , the Caltex brand name
4636-405: The name Texol. The success in New Zealand allowed Caltex to sign up rights to sell Boron in other markets worldwide. It remained Caltex's fuel brand globally until it was phased out in the 1980s. In November 1996, Caltex Oil (N.Z.) Limited changed its name to Caltex New Zealand Limited. In 1999, the first ever non-service station (stand-alone) Star Mart store in New Zealand opened in Wellington. At
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#17328011046494712-514: The off-shore platforms off the Gulf of Mexico and Permian Basin for example. The requirement will begin for workers off the Gulf of Mexico on the first of November. In the 2020s, Chevron's primary focus was on alternative energy solutions, gradual pullouts from Africa and Southeast Asia, and an increased focus on the Americas with a lessened albeit still present interest in natural gas. Chevron in February 2020 joined Marubeni Corporation and WAVE Equity Partners in investing in Carbon Clean Solutions,
4788-432: The onshore and near-offshore regions of the Niger Delta , Chevron operates under a joint venture with the Nigerian National Petroleum Corporation , operating and holding a 40% interest in 13 concessions in the region. In addition, Chevron operates the Escravos Gas Plant and the Escravos gas-to-liquids plant . Chevron has interests in four concessions in Angola, including offshore two concessions in Cabinda province ,
4864-581: The petroleum industry and sold its 50% share of Australian Petroleum to Caltex Australia, allowing the latter to acquire full ownership and renaming the company to Caltex Petroleum Australia Limited. In exchange, Pioneer received 90 million Caltex Australia shares (33.33% stake), which it later sold through public offering. That resulted in shareholding changes in Caltex Australia, which became 50% owned by Caltex Corporation (and later Chevron Global) and 50% by Australian shareholders. In 2015, Chevron sold its 50 per cent stake in Caltex Australia (the deal valuing
4940-417: The president of Chevron, Javier La Rosa. The Venezuelan ruling party said it was committed to "the development of oil production" after the easing of sanctions. The most important joint ventures where Chevron is involved in Venezuela are Petroboscán, in the west of the nation, and Petropiar, in the eastern Orinoco Belt, with a production capacity of close to 180,000 barrels per day between both projects. In
5016-454: The remaining 28% held by Off The Shelf Investments (OTS) (23%) and employees (5%). Glencore owns 100% of Astron Energy Botswana. Astron Energy and previously CSA owns a refinery in Milnerton which is north of Cape Town ; the refinery has a production capacity of 100,000 barrels per day and produces a range of petrochemical products including petrol, diesel , jet fuel , liquefied petroleum gas , fuel oil and paving asphalt . The company has
5092-475: The world's largest oil field in Saudi Arabia, Ghawar Field . California Standard's subsidiary, California-Arabian Standard Oil Company, grew over the years and became the Arabian American Oil Company (ARAMCO) in 1944. In 1973, the Saudi government began buying into ARAMCO. By 1980, the company was entirely owned by the Saudis, and in 1988, its name was changed to Saudi Arabian Oil Company— Saudi Aramco . Standard Oil of California and Gulf Oil merged in 1984, which
5168-412: The world's-largest oil companies received immense backlash for such profits. In total, Chevron made US$ 246.3 billion in revenue and $ 36.5 billion in profit within 2022, both of which are records for the company. In addition, days before the company reported its full year earnings, Chevron increased its dividend and announced a $ 75 billion stock buyback program , a move which attracted a heated response from
5244-537: Was Mr. Tribhovandas D Parekh (also known as Mr. Pampu-sheth) and the Chairman was Mr. Cuhnilal D Parekh. T. C. Brothers company dealt in Petroleum products, service station for automobiles, paint, tiles, pipes, cements and transportation of oil, kerosene, gasoline/petrol in state of Gujarat. In 2010, Caltex started trading under the name GS Caltex India, a subsidiary of Caltex's Korean joint venture GS Caltex . There are approximately 420 Caltex stations across Peninsular Malaysia ; three terminals in Pulau Indah , Prai; and
5320-466: Was also the name of the joint venture between Chevron and Texaco which used the Caltex brand name in its operations, until both parent companies merged in 2001 to form ChevronTexaco (later renamed simply to Chevron in 2005). The joint venture was created on 30 June 1936 as California Texas Oil Company Limited , when the two parent companies were still known as Standard Oil of California and The Texas Company respectively. The joint venture officially adopted
5396-408: Was cutting up to 7,000 jobs, or 11 percent of its workforce. Because of the COVID-19 pandemic and 2020 Russia–Saudi Arabia oil price war , Chevron announced reductions of 10–15% of its workforce. Chevron's oil and gas exploration and production operations, which in the oil and gas industry are considered as " upstream " operations, are primarily in the US, Australia, Nigeria, Angola, Kazakhstan, and
5472-643: Was established in the then-British colony in 1933. It was renamed Caltex in the 1950s. In 1979, Caltex acquired a one-third interest in Singapore Refining Co. Pte. Ltd. (SRC) (the balance held by BP and Singapore Petroleum Company ), which operates a 285,000 barrels per day (45,300 m /d) refinery in Singapore. Caltex’s interest in SRC was increased to 50 percent in 2004. In 1999, Caltex moved its operating headquarters to Singapore from Dallas. As of November 2022 , there are 25 Caltex stations in
5548-476: Was introduced as a brand in the 1930s) for the first time in its logo. In July 2014, the Chevron Corporation logo design was officially changed, although it has been used since 2000. By 2015, the logo had been changed multiple times, with three different color schemes applied in the logo. The logo was gray, then blue, and then turned red before returning to the silver gray it is today. Chevron today
5624-536: Was suggested by Reuters that the sales are intended to attract smaller oil companies. Chevron, however, did not do business in the 2020s without controversy and regulatory obstacles. Chevron Phillips Chemical , a company jointly owned by Chevron and Phillips 66 , agreed to pay $ 118 million in March 2022 as a result of violating the Clean Air Act at three of its chemical production plants in Texas. According to
5700-463: Was the fourth-largest producer in the region. In February 2011, Chevron celebrated the production of its 5 billionth barrel of Permian Basin oil. The Gulf of Mexico is where the company's deepest offshore drilling takes place at Tahiti and Blind Faith. The company also explored and drilled in the Marcellus Shale formation under several northeastern US states; these operations were sold to
5776-408: Was the largest merger in history at that time. To comply with U.S. antitrust law , California Standard divested many of Gulf's operating subsidiaries, and sold some Gulf stations in the eastern United States and a Philadelphia refinery which has since closed. Among the assets sold off were Gulf's retail outlets in Gulf's home market of Pittsburgh , where Chevron lacks a retail presence but does retain
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