Case study on Chevron

Topics: Natural gas, Chevron Corporation, Natural gas field Pages: 9 (2295 words) Published: October 16, 2014
Introduction

INTRODUCTION TO COMPANIES

(Chevron Corporation)
Chevron Corporation is an American multinational energy corporation. Headquartered in San Ramon, California, and active in more than 180 countries, it is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron is one of the world's six "super major" oil companies; as of 2013, it ranked eleventh in the Fortune Global 500 list of the world's largest companies.

Operations:
Upstream
Chevron's oil and gas exploration and production operations are primarily in the US, Australia, Nigeria, Angola, Kazakhstan, and the Gulf of Mexico. As of December 31, 2010, the company had 10.545 billion barrels (1.6765 billion cubic meters) of oil-equivalent net proved reserves. Daily production in 2010 was 2.763 million barrels per day (439.3 thousand cubic meters 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 km2) across the Permian Basin, located in West Texas and south eastern New Mexico. In 2010, Chevron 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. It also explores and drills the Marcellus Shale formation under several North Eastern US states.

Downstream
Chevron's downstream operations manufacture and sell products such as fuels, lubricants, additives and petrochemicals. The company's most significant areas of operations are the west coast of North America, the U.S. Gulf Coast, Southeast Asia, South Korea, Australia and South Africa. In 2010, Chevron sold in average 3.1 million barrels per day (490×103 m3/d) of refined products like gasoline, diesel and jet fuel. The company operates approximately 19,550 retail sites in 84 countries. The company also has interests in 13 power generating assets in the United States and Asia and has gas stations in Western Canada. Chevron is the owner of the Standard Oil trademark in 16 states in the western and southeastern U.S. To maintain ownership of the mark, the company owns and operates one Standard-branded Chevron station in each state of the area. Additionally, Chevron owns the trademark rights to Texaco and Caltex fuel and lubricant products.

(Merck & Co.)
Merck & Co., Inc. doing business as Merck Sharp & Dohme, MSD outside the United States and Canada, is an American pharmaceutical company and is one of the largest pharmaceutical companies in the world. Merck headquarters is currently located in Whitehouse Station, New Jersey, though in 2013 the company announced it would be relocating to Kenilworth, New Jersey by 2015. The company was established in 1891 as the United States subsidiary of the German company now known as Merck KGaA. Merck & Co. was confiscated by the US government during World War I and subsequently established as an independent American company. It is currently one of the world's seven largest pharmaceutical companies by market capitalization and revenue. Merck has a long and rich history of working to improve people's health and well-being. Through the years, the researchers at Merck have helped to find new ways to treat and prevent illness - from the discovery of vitamin B1, to the first measles vaccine, to cold remedies and antacids, to the first statins to treat high cholesterol. Their scientists also have helped develop many products to improve animal health, including vaccines and antibiotics. Economic Theories:

Natural resource economics:  it deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in...
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