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Chevron Corporation

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Chevron Corporation
Company typePublic
IndustryOil and gas industry
PredecessorStandard Oil Company of California (Socal)
Founded1870s; 155 years ago (1870s) in Southern California, United States
Headquarters
Houston, Texas (planned relocation in 2024); previously San Ramon, California
,
United States
Area served
Worldwide (more than 180 nations)
ProductsOil, natural gas, fuels, lubricants, additives, petrochemicals, electricity generation
Websitewww.chevron.com

Chevron Corporation is a global American energy firm with a primary focus on oil and natural gas. As the second-largest successor to Standard Oil, initially established as the Standard Oil Company of California (Socal), Chevron has a presence spanning more than 180 nations. The company employs a vertically integrated approach, engaging in activities such as hydrocarbon exploration, extraction, refining, distribution, chemical production, and electricity generation.

Originating in Southern California during the 1870s, Chevron was based in San Francisco for many years before shifting its headquarters to San Ramon, California in 2001. In August 2024, Chevron declared plans to relocate its main office to Houston, Texas, attributing this decision to regulatory difficulties in California that affect investment opportunities and consumer expenses.

Chevron’s roots lie in smaller Californian oil enterprises that were absorbed by Standard Oil and consolidated into Standard Oil of California. Following the 1911 dissolution of Standard Oil, the company expanded through acquisitions and alliances, becoming one of the "Seven Sisters" that dominated the international petroleum sector from the mid-1940s until the 1970s.

The 1985 merger between Socal and Gulf Oil resulted in the rebranding to Chevron; subsequently, it merged with Texaco in 2001. Chevron's production and marketing activities encompass fuels, lubricants, additives, and petrochemicals primarily throughout Western North America, the US Gulf Coast, Southeast Asia, South Korea, and Australia. In 2018, its average production reached 791,000 barrels of net oil-equivalent per day within the United States.

Ranked among the largest global corporations and holding the position as the second-highest revenue-generating US-based oil company after ExxonMobil, Chevron placed 10th on the Fortune 500 list in 2023. Since ExxonMobil’s departure from the Dow Jones Industrial Average in 2020, Chevron remains the only oil and gas company included.

Chevron has encountered multiple controversies that have influenced its public image.

Star Oil and Pacific Coast Oil Company

Among Chevron’s earliest antecedents was Star Oil, which struck oil at the Pico Canyon Oilfield near Los Angeles in 1876—an event considered foundational to California’s modern petroleum industry. In 1879, Charles N. Felton, Lloyd Tevis, George Loomis, and others founded the Pacific Coast Oil Company, acquiring Star Oil’s holdings with an initial investment of $1 million. Pacific Coast Oil grew to become California’s dominant oil enterprise before being purchased by John D. Rockefeller’s Standard Oil in 1900 for $761,000. By 1906, Pacific Coast had absorbed operations from the Standard Oil Company (Iowa) and was renamed Standard Oil Company (California).

Texaco

Texaco began as the Texas Fuel Company in Beaumont, Texas and maintained close collaboration with Standard Oil affiliates over many decades prior to its acquisition by Chevron in 2001. In 1936, Texaco joined forces with California Standard to establish Caltex, a joint venture focused on drilling activities in Saudi Arabia. Often dubbed the "terrible twins" along with California Standard due to their assertive business strategies, Texaco significantly contributed to expanding Chevron’s global footprint and market dominance.

Origin of the Chevron Name

Following the 1911 dissolution of Standard Oil by the federal government under the Sherman Antitrust Act, one segment, Standard Oil Co. (California), eventually transformed into Chevron and became a member of the powerful "Seven Sisters" that dominated the oil industry in the early 1900s. The company adopted the name Standard Oil Co. of California (SOCAL) in 1926. Initially, SOCAL was permitted to use the Standard brand exclusively within its original Pacific coast area, as well as Nevada and Arizona; outside these regions, it had to operate under alternative branding.

Chevron currently holds ownership of the Standard Oil trademark across 16 states in the western and southeastern United States. To comply with U.S. trademark regulations requiring active use to maintain rights, Chevron operates at least one Standard-branded service station in each state within this territory. Despite acquiring Kyso during the 1960s, Chevron withdrew its retail branding from Kentucky in July 2010.

The 'Chevron' designation first appeared on select retail products during the 1930s, while the brand "Calso" was employed from 1946 until 1955 beyond its West Coast stronghold.

During World War II, Standard Oil Company of California was ranked 75th among American corporations based on military production contracts awarded.

In 1933, Saudi Arabia granted an oil concession to California Standard, which led to oil discovery in 1938 and subsequently to the identification of the Ghawar Field in 1948—the largest oil field worldwide. Its subsidiary, California-Arabian Standard Oil Company, was renamed Arabian American Oil Company (ARAMCO) in 1944. By 1980, full ownership transferred to the Saudi government, which rebranded it as Saudi Arabian Oil Company—Saudi Aramco—in 1988.

The historic merger between Standard Oil of California and Gulf Oil occurred in 1984, marking the largest merger at that time. To adhere to antitrust requirements, numerous Gulf subsidiaries and retail outlets in eastern U.S. markets were divested. Although Chevron does not maintain retail operations in Gulf’s original market of Pittsburgh, it retains a regional office there connected to Marcellus Shale development activities. That same year, SOCAL officially changed its corporate name to Chevron Corporation, aligning with its retail branding strategy. In 2010, Chevron sold Gulf Oil trademarks for all U.S. territories to Cumberland Farms.

In 1996, Chevron transferred its natural gas assets to NGC Corporation in exchange for approximately a 25% equity stake. This shareholding increased to about 28% by 2000 following Dynegy’s acquisition of Illinova Corp. Chevron divested its Dynegy stake in May 2007 for roughly $985 million, realizing a gain near $680 million that positively impacted its financial results.

2000s

During the early 2000s, Chevron strategically pursued major mergers and acquisitions to broaden its market presence and international footprint. The most significant transaction was the $45 billion purchase of Texaco in 2000, forming the second-largest oil company in the United States and ranking fourth globally among publicly traded oil firms with a combined market capitalization close to $95 billion. After finalizing this acquisition in 2001, Chevron temporarily operated under the name ChevronTexaco until 2005; thereafter, Texaco continued solely as a fueling station brand.

In 2005, Chevron acquired Unocal Corporation for $18.4 billion, increasing its petroleum and natural gas reserves by approximately 15%. This deal strengthened Chevron’s positions across Southeast Asia and expanded its geothermal energy portfolio. The acquisition excluded Unocal’s prior retail businesses, including the Union 76 brand, which is now owned by Phillips 66.

Chevron collaborated with Los Alamos National Laboratory in 2006 to develop the Chevron CRUSH technology aimed at enhancing hydrocarbon extraction from oil shale formations. That same year, it received a research lease from the U.S. Department of the Interior for an oil shale demonstration project located in Colorado’s Piceance Basin. However, Chevron announced plans to relinquish this lease by 2012.

In 2008, Chevron Limited divested its UK equity distribution operations by selling them to GB Oils Limited for £21.9 million as part of efforts to streamline its corporate structure within that market.

2010s

Beginning in 2010, Chevron scaled back its retail presence while expanding its activities in the domestic natural gas sector. In July of that year, the company withdrew from retail operations across the Mid-Atlantic region of the United States, resulting in the removal of Chevron and Texaco branding from approximately 1,100 service stations. The following year, Chevron bolstered its natural gas portfolio by acquiring Atlas Energy Inc., a Pennsylvania-based firm, for $4.3 billion including assumed debt. Shortly thereafter, it secured drilling rights covering 228,000 acres within the Marcellus Shale formation. By September 2013, Chevron divested its retail distribution operations in Pakistan, selling them to Total S.A.

In October 2014, Chevron sold a 30% interest in its Canadian oil shale holdings to Kuwait Oil Company for $1.5 billion. Despite these asset disposals, the company maintained an assertive acquisition strategy beginning in 2019. In April of that year, Chevron announced a $33 billion bid for Anadarko Petroleum but later retracted the offer due to unfavorable conditions. Nevertheless, in July 2020, Chevron successfully acquired Noble Energy for $5 billion, further enhancing its upstream assets.

Chevron also exited its North Sea ventures by selling them to Ithaca Energy for $2 billion in May 2019. The company underwent workforce reductions between 10% and 15% as a response to challenges posed by the COVID-19 pandemic and the 2020 oil price conflict between Russia and Saudi Arabia. Early during the pandemic, Chevron explored a potential merger with ExxonMobil that would have created the world’s second-largest oil producer; however, this plan was ultimately abandoned.

Subsequent pandemic-related policies included mandatory COVID-19 vaccinations for specific employee groups—especially expatriates and offshore personnel—initiated in November 2021 for operations in the Gulf of Mexico. These strategic adjustments underscore Chevron’s flexible approach to navigating market uncertainties and shifting industry dynamics.

2020s

Throughout the 2020s, Chevron shifted focus toward alternative energy sources while reducing activities in Africa and Southeast Asia. Concurrently, it intensified operations within the Americas with sustained emphasis on natural gas development. In February 2020, Chevron partnered with Marubeni Corporation and WAVE Equity Partners to invest in Carbon Clean Solutions, a company specializing in portable carbon capture technology. Two years later, Chevron completed a swift acquisition of Renewable Energy Group, an Iowa-based biodiesel producer.

The company expanded its U.S. natural gas infrastructure by acquiring Beyond6, LLC (B6), which operates 55 compressed natural gas stations. Among its most notable moves was re-engagement in Venezuela’s oil sector after U.S. sanctions were eased under the Biden administration. This allowed Chevron to resume limited production under strict conditions that prohibit transactions with Russian or Iranian entities and prevent profits from reaching PDVSA. Significant joint ventures include Petroboscán and Petropiar located in Venezuela’s Orinoco Belt; combined capacity approaches 180,000 barrels per day though actual production remains below this level.

In March 2023, Venezuelan Petroleum Minister Tareck El Aissami resigned amid corruption allegations; he had been instrumental in bypassing U.S. sanctions through international business networks. Earlier developments saw Chevron reduce output at Kazakhstan’s Tengiz Field due to protests related to oil pricing and exit Myanmar in January 2022 over human rights concerns following a military coup.

Chevron also considered divesting interests in Equatorial Guinea’s hydrocarbon assets to attract smaller operators. Regulatory challenges emerged when Chevron Phillips Chemical agreed to pay $118 million for violations of the Clean Air Act at Texas facilities, committing to implement pollution control improvements.

Despite criticism regarding profits during the 2022 Russia-Ukraine conflict, Chevron reported record annual revenues of $246.3 billion and net earnings of $36.5 billion. The company announced a $75 billion stock repurchase program alongside dividend increases, drawing scrutiny from both the Biden administration and media outlets.

Chevron made targeted investments in clean energy technologies by supporting fusion power startups Zap Energy and TAE Technologies. In September 2023, it acquired a controlling interest in a Utah-based hydrogen storage facility projected to become the world’s largest dedicated to renewable hydrogen.

In October 2023, Chevron completed a $53 billion all-stock acquisition of Hess Corporation, broadening its footprint in U.S. shale plays as well as Guyana’s rapidly developing offshore oil sector. Although regulatory approval faced delays due to an arbitration claim by ExxonMobil concerning Guyana assets, Hess shareholders approved the deal in May 2024. Later that year, the Federal Trade Commission cleared the merger subject to board composition conditions.

Chevron reentered India’s lubricant market in 2023 through a decade-long licensing agreement with Hindustan Petroleum Corporation Ltd to distribute Caltex-branded products. In August 2024, it announced a $1 billion investment to establish the Chevron Engineering and Innovation Excellence Center (ENGINE), an R&D hub located in Bengaluru.

In October 2024, Chevron streamlined its North Slope portfolio by selling its Kuparuk River and Prudhoe Bay oil fields in Alaska to ConocoPhillips Alaska for $300 million.

Logo development

At its inception in 1879, the company’s initial emblem displayed the name "Pacific Coast Oil Co." Subsequent designs incorporated the term 'Standard,' reflecting "The Standard Oil of California." By 1968, the logo adopted the 'Chevron' brand, which had been in use since the 1930s. Over time, the Chevron logo underwent several color transformations—ranging from gray to blue and red—before finalizing on a silver-gray palette by 2015. This progression illustrates the firm’s continuous efforts to modernize its brand identity in harmony with its corporate objectives.

"Human Energy"

Introduced in September 2007, Chevron’s prominent tagline, "the human energy company," highlights its dedication to providing energy solutions amid evolving global challenges. This campaign emphasizes Chevron’s focus on innovation and sustainability within its business framework. The slogan remains a cornerstone of the company’s marketing strategy, reinforcing its role as a strategic leader and influential player in the energy sector.

Operations

As of December 31, 2018, Chevron's workforce numbered approximately 48,600 employees, with about 51% stationed within U.S. operations. The company’s main production hubs include North America, yielding 1.2 billion barrels of oil equivalent (BBOE), and Eurasia, producing 1.4 BBOE across regions such as the UK, Southeast Asia, Kazakhstan, Australia, Bangladesh, and greater China. Additional operations extend to South America and sub-Saharan Africa—particularly Nigeria and Angola—as well as Egypt and Iraq, collectively generating 0.4 BBOE. Chevron's revenue is primarily driven by shale and tight oil production complemented by heavy oil extraction, deepwater offshore drilling, conventional oil activities, and liquefied natural gas.

In October 2015, Chevron implemented workforce reductions of up to 7,000 positions, representing around 11% of its employees. Further cuts ranging from 10% to 15% were announced during the COVID-19 pandemic and amid the 2020 oil price conflict between Russia and Saudi Arabia.

Upstream

Chevron’s upstream division—encompassing exploration and production—is concentrated in locations including the United States, Australia, Nigeria, Angola, Kazakhstan, and the Gulf of Mexico. By the end of 2018, net upstream output reached 2.93 million barrels of oil equivalent per day.

Within the United States, Chevron operates roughly 11,000 wells across nearly 4 million acres in the Permian Basin (covering West Texas and southeastern New Mexico), where it ranked as the fourth-largest producer as of 2010. The Gulf of Mexico features Chevron’s deepest offshore drilling sites at Tahiti and Blind Faith. In 2020, Chevron divested its Marcellus Shale holdings to EQT Corporation.

The Gulf of Mexico's Anchor Field project—a $5.7 billion investment—commenced production in August 2024, delivering daily outputs of approximately 75,000 barrels of crude oil alongside 28 million cubic feet of natural gas. TotalEnergies’ subsidiary Total E&P USA holds a 37.14% ownership stake.

Chevron's most substantial resource commitment is the $43 billion Gorgon Gas Project in Australia, initiated in 2010 with an LNG facility on Barrow Island paired with a domestic gas plant supplying Western Australia. Additionally, Chevron is advancing the $29 billion Wheatstone LNG project featuring two processing trains with a combined capacity of 8.9 million tons annually.

The company maintains a 50% stake in Western Australia’s Lasseter-1 gas-condensate discovery and shares equal partnership in the North West Shelf Venture alongside BP, BHP Petroleum, Shell Australia, Mitsubishi/Mitsui, and Woodside Petroleum. Efforts are underway to transition Gorgon Island operations toward carbon capture and storage technologies to bolster environmental sustainability.

In Nigeria’s Niger Delta region, Chevron operates through a joint venture with the Nigerian National Petroleum Corporation holding a 40% interest across thirteen concessions while managing both the Escravos Gas Plant and Escravos gas-to-liquids facility.

Chevron’s Angolan interests encompass four concessions including offshore developments in Cabinda province—the Tombua–Landana project and Mafumeira Norte—and it serves as a principal partner in the Angola LNG facility.

In Kazakhstan, Chevron participates in the Tengiz and Karachaganak fields and stands as the largest private stakeholder in the Caspian Pipeline Consortium pipeline that transports Caspian Sea oil to the Black Sea.

Since drilling a discovery well at Rosebank oil and gas field west of Shetland in 2004, Chevron has evaluated production potential there; as of 2013 development decisions were pending due to complex geological conditions and harsh weather impacts anticipated for production around 2015.

Midstream

By 2019, Chevron's midstream holdings were minimal beyond its maritime shipping interests. That year, the company sought to purchase Anadarko Petroleum, which owned pipeline assets, but was ultimately outbid by Occidental Petroleum. In 2021, Chevron finalized its acquisition of Noble Midstream Partners LP, thereby obtaining crude oil, produced water, and natural gas gathering infrastructure in the Permian Basin (West Texas) and DJ Basin (Colorado). This deal also included two crude oil terminals and freshwater supply systems.

Transport

Chevron Shipping Company, a fully owned subsidiary, oversees Chevron Corporation’s marine transport activities, marine advisory services, and risk management. Historically, the vessels bore names beginning with "Chevron" or honored prominent company leaders such as Samuel Ginn, William E. Crain, Kenneth Derr, Richard Matzke, and Condoleezza Rice (whose vessel was later renamed Altair Voyager).

Refining

Chevron’s downstream operations involve producing and marketing fuels, lubricants, additives, and petrochemicals primarily across the U.S. West Coast, Gulf Coast, Southeast Asia, South Korea, Australia, and South Africa. In 2010, the company sold approximately 3.1 million barrels per day of refined products including gasoline, diesel fuel, and jet fuel. Chevron manages around 19,550 retail outlets in 84 countries. Its Asian downstream headquarters is located in Singapore where it operates Caltex-branded service stations alongside those in Western Canada. Chevron holds trademark rights for both Texaco and Caltex fuels and lubricants.

In collaboration with Singapore Petroleum Company, Chevron maintains a 50% ownership interest in the Singapore Refining Company (SRC), a complex refinery with a capacity of 285,000 barrels per day capable of crude oil cracking—a strategic partnership established in 1979.

During 2010, Chevron processed about 1.9 million barrels daily of crude oil. It owns and runs five refineries within the United States (including facilities in Richmond and El Segundo in California; Salt Lake City; Pascagoula; and Pasadena) and holds non-operational stakes in seven joint venture refineries located in Australia, Pakistan, Singapore, Thailand, South Korea, and New Zealand. Additionally, Chevron possesses an asphalt refinery in Perth Amboy, New Jersey that has mainly functioned as a terminal since early 2008.

Chemicals

Chevron’s core chemical operations are conducted through a 50/50 joint venture with Phillips 66 known as Chevron Phillips Chemical Company. The company also operates Chevron Oronite Company which specializes in manufacturing fuel and lubricant additives.

Retail

Within the United States as of September 2022, the Chevron brand dominates with 6,880 service stations across 21 states. These are primarily concentrated in California, Las Vegas, Anchorage, the Pacific Northwest region, Phoenix, Atlanta, the Texas Triangle area, and South Florida. The world’s largest Chevron station is located at Terrible's Road House in Nevada.

The Texaco brand is present at 1,346 locations across 17 U.S. states including Washington, Texas, Louisiana, Alabama, Mississippi, Georgia, and Hawaii. Texaco licenses its brand to Valero Energy for more than 730 outlets throughout the United Kingdom.

Globally, Chevron markets under the Caltex brand across Southeast Asia, Hong Kong, Pakistan, New Zealand, and South Africa. After divesting its 50% stake in Caltex Australia in 2015, Chevron re-entered the Australian market by acquiring Puma Energy’s operations there in 2020. Following the expiration of Caltex Australia’s brand license agreements, Chevron relaunched the Caltex brand within Australia in 2022.

Alternative energy

Chevron's portfolio of alternative energy sources encompasses geothermal, solar, wind, biofuels, fuel cells, and hydrogen. In 2021, the company notably expanded its biofuel output derived from biomethane produced at dairy farms.

While Chevron has asserted its position as the leading global producer of geothermal energy, it divested its main geothermal holdings in Southeast Asia in 2017. Previously, the firm operated geothermal wells in Indonesia and the Philippines that supplied power to those regions.

In 2007, Chevron collaborated with the U.S. Department of Energy's National Renewable Energy Laboratory to advance algae-based fuels capable of conversion into transportation fuels such as jet fuel. The following year, it co-established Catchlight Energy LLC alongside Weyerhaeuser to explore cellulose-derived biofuels; however, funding for this initiative was redirected by 2013 due to competitive pressures from fossil fuels.

Between 2006 and 2011, Chevron invested up to $12 million in a strategic partnership with Georgia Tech aimed at developing cellulosic biofuels. Additionally, the company owns a 22% interest in Galveston Bay Biodiesel LP, which produces as much as 110 million gallons of renewable biodiesel annually.

In 2010, Chevron introduced Project Brightfield—a 740 kW photovoltaic pilot facility in Bakersfield, California—designed to evaluate solar technologies for potential deployment on a larger scale. The company also funded the 500 kW Solarmine project providing electricity to the Midway-Sunset Oil Field and constructed a 1 MW concentrated photovoltaic installation in Questa utilizing Fresnel lens technology. In 2011, Chevron commissioned a 29 MW solar thermal steam plant at Coalinga Field for enhanced oil recovery applications; as of 2012, this was the largest project of its kind worldwide.

By 2014, Chevron scaled back its investments in renewable energy by reducing personnel and divesting certain alternative energy assets.

In 2015, Chevron Canada Limited acquired a 20% interest in Shell Canada's Quest Energy project located within the Athabasca Oil Sands—recognized as the inaugural commercial-scale carbon capture and storage (CCS) operation globally.

In 2025, Chevron entered the lithium sector through acquisition of approximately 125,000 acres across Texas and Arkansas targeting high-lithium brine deposits within the Smackover formation for direct lithium extraction initiatives.

Business trends

As of 2018, Chevron held the No. 13 spot on the Fortune 500 list ranking America’s largest corporations by revenue.

Key financial indicators for Chevron (fiscal years ending December 31) are as follows:

Year Revenue
(billion US$) 		Net income
(billion US$) 		Share Price
(US$)[1] 		Employees
1997 40.5 3.2 38.50
1998 29.9 1.3 41.47
1999 35.4 2.0 43.31
2000 50.5 5.1 42.22
2001 104 3.2 44.80
2002 98.6 1.1 33.24
2003 120 7.2 43.20
2004 151 13.3 52.51
2005 198 14.0 47.89
2006 210 17.1 57.58
2007 220 18.6 63.07
2008 273 23.9 82.42 67,000
2009 171 10.4 84.90 64,000
2010 204 19.0 70.17 62,000
2011 253 26.8 78.13 61,000
2012 241 26.1 100.85 62,000
2013 228 21.4 107.55 64,600
2014 211 19.2 120.23 64,700
2015 138 4.5 120.51 61,500
2016 114
96.36 55,200
2017 141 9.1 99.87 51,900
2018 166 14.8 111.45 48,600
2019 146 2.9 119.63 48,200
2020 94.6
88.27 13,379
2021 162 15.6 104.21 42,595
2022 246 35.4 179.49 43,846
2023 200 21.3 45,600

This information demonstrates Chevron's ability to maintain business growth and financial stability amid volatile oil markets and economic fluctuations—underscoring its strategic position as a global leader headquartered in the United States with extensive international operations and subsidiaries worldwide.


Ownership

Institutional investors hold the majority stake in Chevron, accounting for approximately 70% of its shares. As of December 2023, the principal shareholders included:

Texas

Chevron’s main corporate offices are situated in downtown Houston, Texas, occupying the buildings at 1500 Louisiana Street and 1400 Smith Street.

After announcing the sale of its San Ramon headquarters in 2022, Chevron provided assistance for employees relocating to Texas. On August 2, 2024, the company confirmed that by January 2025 it would complete its headquarters move from California to Houston as part of a strategic shift.

California

Chevron maintains a corporate presence at 5001 Executive Parkway, located in San Ramon, California.

Originally headquartered at 555 Market Street in San Francisco since its inception in 1879, Chevron moved in 2002 to a newly developed 92-acre site on Bollinger Canyon Road in San Ramon. In September 2022, the company sold this San Ramon campus to Sunset Development Co., opting to lease office space within San Ramon's Bishop Ranch as it transitions more operations to Texas.

Political contributions

Since 2011, Chevron has invested nearly $15 million in lobbying efforts in Washington, D.C. On October 7, 2012, it contributed $2.5 million to the Republican Congressional Leadership Fund, a super PAC associated with former House Speaker John Boehner. In 2020, Chevron donated $50,000 to the Rule of Law Defense Fund, which is connected to the Republican Attorneys General Association.

Chairman of the Board

  1. Demetrius G. Scofield, March 8, 1917 – July 30, 1917
  2. William S. Miller, April 28, 1919 – December 23, 1919
  3. Harry D. Collier, October 25, 1945 – January 1, 1950
  4. R. Gwin Follis, January 1, 1950 – December 1966
  5. Otto N. Miller, December 1966 – January 1974
  6. Harold J. Haynes, January 1974 – May 1981
  7. George M. Keller, May 1981 – January 1, 1989
  8. Kenneth T. Derr, January 1, 1989 – January 1, 2000
  9. David J. O'Reilly, January 1, 2000 – December 31, 2009
  10. John S. Watson, December 31, 2009 – February 1, 2018
  11. Michael K. Wirth, February 1, 2018 – present

President

  1. George Loomis, September 10, 1879 – December 15, 1879
  2. Charles N. Felton, December 15, 1879 – August 1885
  3. George Loomis, August 1885 – April 8, 1894
  4. Charles N. Felton, April 17, 1894 – February 1896
  5. Gordon Blanding, February 1896 – October 17, 1900
  6. Henry M. Tilford, December 18, 1900 – February 20, 1911
  7. James A. Moffett, February 20, 1911 – December 1, 1911
  8. Demetrius G. Scofield, December 5, 1911 – March 8, 1917
  9. Kenneth R. Kingsbury, April 28, 1919 – November 22, 1937
  10. William H. Berg, December 10,1937 – June26 ,1940
  11. Harry D. Collier ,July8 ,1940–October25 ,1945
  12. R. Gwin Follis ,October25 ,1945–January9 ,1948
  13. Theodore S. Petersen ,January9 ,1948–October26 ,1961
  14. Otto N. Miller ,October26 ,1961–December1966
  15. James E. Gosline ,December1966–July30 ,1969
  16. Harold J. Haynes ,July30 ,1969–January1974
  17. John R. Grey ,January1974–December31 ,1985
    office abolished

Current Board of directors

Criticism and concerns

Chevron has been subject to considerable environmental criticism, including penalties imposed by Angola for oil spill incidents and sanctions from the US Environmental Protection Agency related to infractions at its Richmond Refinery in California. In various oil-producing nations, demonstrations opposing Chevron have sometimes been met with forceful responses. Environmental advocates regularly organize protests targeting Chevron during the company’s shareholder assemblies.

A significant point of contention centers on Texaco’s former activities in Ecuador’s Lago Agrio oil field, which Chevron acquired in 2001. Texaco is alleged to have disposed of approximately 18 billion tons of hazardous waste and released around 17 million gallons of crude oil, resulting in extensive ecological harm and adverse health effects for local populations. This situation culminated in a landmark $9.5 billion verdict by an Ecuadorian court in 2011, which Chevron has consistently rejected, disputing the legitimacy of the judgment and withdrawing assets from Ecuador. Subsequently, an international tribunal determined that the ruling was procured through fraudulent means and corruption.

Steven Donziger, the attorney representing the Ecuadorian plaintiffs, became a pivotal figure in ongoing litigation. Chevron accused him of securing the judgment through deceit and initiated criminal contempt proceedings against him in the United States, leading to his house arrest, disbarment, and a $60 billion lawsuit—one of the largest individual suits pursued in US history. Observers contend that Chevron’s legal tactics are designed to intimidate opponents and safeguard its worldwide operations.

In metropolitan regions such as Los Angeles, Chevron operates oil extraction sites close to residential areas and schools, often concealing drilling operations within windowless buildings in upscale neighborhoods like Beverly Hills. The company has faced allegations of abandoning contaminated wells that continue to pose health hazards to nearby communities, raising questions about regulatory enforcement.

These issues highlight accusations that Chevron’s corporate strategy emphasizes cost-effective resource exploitation with limited environmental protections while leveraging comprehensive legal measures to address liabilities and sustain its global market presence.

See also

External links

  1. ↑ Closing price on December 31 or last trading day
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