Chevron Group is a global power group in the United States. It is involved in all areas of the petroleum, gas and geothermal energy sectors, including hydrocarbons exploration, production, mining, distribution and transportation. It also works in manufacturing and selling of chemicals and Electricity generation. It is incorporated in California. It was ranked 11th on the Fortune 500 index of the biggest closely held US companies and 28th on the Fortune Global 500 list of the world’s largest 500 corporations.
Headquarters: San Ramon, California
Founded in: 1879
Annual Revenue: 158.9 Billion U.S Dollars
Number of Employees: 51,000
History:
- Star Petroleum discovered oil in 1876, north of Los Angeles.
- The discovery of the Newhall Field was marked by 25 barrels of oil per day.
- Charles N. Felton, Lloyd Tevis, George Loomis and others founded the Pacific Coast Oil Company in 1879, which purchased Star Oil’s resources.
- By the time it was obtained by Standard Oil for $761,000 in 1900, Pacific Coast Oil became the largest oil interest in California.
- Pacific Coast operated independently and kept its identity until 1906, when it became Standard Oil Corporation.
- The Texas Fuel Company was founded by Buckskin Joe in 1901 in Beaumont, Texas.
- In 1936, a joint venture was formed to drill and produce oil in Saudi Arabia with California Standard called Caltex.
- The Texas Petroleum Corporation was called the Texas Business and eventually became Texaco.
- California Standard found Saudi Arabia’s largest oil reserve, Ghawar Reserve, in 1948.
- The Saudi government began buying into ARAMCO in 1973.
- The firm was wholly owned by the Saudis by 1980, and changed its name to Saudi Arabian Oil Company, Saudi Aramco, in 1988.
- California’s Standard Oil and Gulf Oil combined in 1984, which at that time was the largest merger in history.
- Chevron sold its natural gas stock, processing and sales activity to NGC Corporation in 1996 in return for a 25% interest in NGC.
- Illinova Corp. became a wholly owned subsidiary of Dynegy Inc. in a merger completed on February 1, 2000.
- Chevron acquired Unocal Corporation for $18.4 billion in 2005, growing the company’s oil and gas reserves by about 15 million.
- Chevron sold its stake in the company for about $985 million in May 2007, resulting in an increase of $680 million.
- Chevron ended retail operations in the United States, Mid-Atlantic, in July 2010, removing the names of Chevron and Texaco from 1,100 stations.
- In 2013, Total S.A. and its joint venture partner agreed to purchase an undisclosed amount of Chevron’s retail distribution business in Pakistan.
- Chevron revealed in 2016 that it would depart South Africa.
- Chevron declared its plan in 2019 to buy Anadarko Petroleum in a $33 billion transaction, but decided to focus on other investments shortly after when an agreement could not be found.
Operations:
- Exploration and Production:
Chevron focuses on deep-water in the Gulf of Mexico, inland Western Australia, West Africa, Shales and tight resource plays in the United States, Canada, and Argentina. It planned to drill 40 wells worldwide for exploration and assessment in 2019. It is constantly evolved in meeting new demands and plays a key role in creating new resources & proven reserves across major capital projects in development. Its lines of operations are:
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- Heavy Oil
- Natural gas
- LNG
- Oil
- Deepwater
- Shale/tight Resources
- Refining:
In all of its projects, operating safely, reliably and with a devotion to protecting the environment, is among Chevron’s top priorities. It has recently completed extensive upgrades in several of its refineries and has implemented a loss prevention system at its facilities. Six of Chevron’s refineries make up more than 95 percent of its total refined crude oil. Five of these refineries are located in:
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- Singapore
- Thailand
- South Korea
- Richmond and El Segundo in California and
- Pascagoula, Mississippi.
- Transportation:
Transportation is an important part of Chevron’s operations. Chevron Pipe Line Company and Chevron Shipping Company handle safe, reliable, flexible and efficient systems that deliver energy to its customers around the world. The company operates and invests in an interconnected system to deliver all of its products to its final destinations. Chevron Pipe Line Company transports crude oil, natural gas, natural gas liquids, carbon dioxide, petrochemicals and refined products through a set of pipelines and storage facilities that it owns and/or operates. Moreover, Chevron Shipping Company operates a fleet of vessels to transport crude oil, liquefied natural gas and its refined products around the globe. Chevron’s fleet travels around 1.4 million miles every year. That’s the equivalent of 56 trips around the world.
- Supply and Trading (S&T)
Chevron Supply and Trading (S&T) provides a censorious link between the market and Chevron’s upstream, downstream and chemicals companies. It provides commercial support to its crude oil and natural gas production operations and to its refining and marketing network. The headquarters of S&T are located in Houston, Texas, and have offices worldwide – including trading hubs in Houston, London, Singapore and San Ramon, California. Its trading professionals manage commodity transactions of around 5 million barrels of liquids and 5 billion cubic feet of natural gas each day.
- Lubricants
Chevron Lubricants provide finished lubricants and premium base oils to commercial, consumer, industrial and marine customers worldwide. Customers across five continents trust Chevron Lubricants to provide excellent and reliable performance in a wide array of operating conditions.
- Refining:
Operating safely, reliably and with a commitment to environmental protection, is one of the top priorities in all of Chevron’s work. In several of its refineries, it has recently completed major upgrades and introduced a loss prevention program at its plants. The aim of this behavior-based safety system is to help strengthen the environment of injury-free and incident-free activities by offering a foundation for good, competitive performance. Many of these refineries may process heavy crude oils and manufacture a variety of high-value goods, including transport fuels.
- Chemicals and Additives:
Chevron’s chemicals & other components, and its affiliates are more than just molecules. They are necessary for more than 70,000 consumer and industrial goods to be produced. Its products are used to manufacture food packaging, cleaner fuels, biodegradable solvents, etc. Its lubricant additives are mixed in refined base oils to dissolve deposits, inhibit corrosion, control oxidation, and reduce friction.
- Power:
Chevron’s holding company, Chevron Power and Energy Management Company, manages Chevron’s interest in gas-fired and renewable power generation assets. It offers extensive business, engineering & operational services, and support to improve Chevron’s global processes’ power reliability & energy efficiency.
Countries of Operation:
Chevron has operations worldwide and has extensive operations in Asia pacific, Eurasia and Europe. But countries in which the company is most active are:
- Africa
- America
- Belgium
- Colombia
- Qatar
- Saudi Arabia
- Singapore
- United States
- Australia
- Canada
- China &
- Philippines