Chevron was found in Pico Canyon, Los Angeles in 1879 with the name of Pacific Coast Oil Co. Later it was renamed to Standard Oil Company of California. The company was known as Chevron after the acquisition of Gulf Oil Corporation in 1984. This merger was the largest merger till that time in the history of the United States and it doubled the oil and gas reserves of the company. Chevron merged with Texaco in 2001 & formed a new company named ChevronTexaco. Texaco was one of the branches of Chevron family. It was formed in 1901 in Beaumont, Texas. To convey a unified presence in the world, it was again renamed to Chevron in 2005. Chevron strengthened its position by acquiring Unocal Corporation in 2005. This acquisition assisted the Chevron in becoming an energy leader by enhancing oil and natural gas assets around the world.
Chevron’s headquarter is in San Ramon, California. It is operating business in more than 115 countries. Chevron is involved in exploration & production, manufacturing, marketing & transportation, chemical manufacturing and sales, geothermal and power generation of oil and natural gas. It invests in renewable and advanced technologies too. Chevron is having diversity in its workforce. It has 59,000 highly skilled employees from all over the world and approximately 5,800 service station employees (Company Profile, 2008).
Chevron, with its employees, is committed to community development and environment protection, wherever it operates. By the end of 2007, Chevron had a worldwide refining capacity of more than 2 million barrel oil per day. It produced 2.62 million barrel oil per day in 2007. Approximately 70% of production comes from more than 20 countries outside from the United States. With this, there are 15 power generating facilities in the United States and Asia in which Chevron has invested. Chevron uses new technologies to increase its growth chances in developing hydrogen fuel, bio fuel, and renewable resources...
References: Chevron: Indian Opportunity (2006, June). Retrieved August 27, 2008, from http://seekingalpha.com/article/11444-chevron-indian-opportunity-venzuelan-risk-cvx
Company Profile (2008). Retrieved August 27, 2008, from www.chevron.com
Ecuadorian president to meet with Chevron over environmental damage (2008, August 17). Retrieved August 27, 2008, from http://www.iht.com/articles/2008/08/17/business/chevron.php
Paulson, A. (2008, May). Chevron to Lay-Off 1,100 Employees. International Business Times. Retrieved August 27, 2008, from http://www.ibtimes.com/articles/20080509/chevron-lay-off-100-employees.htm
Ramon, S. (2008, May 28). Chevron Highlights Record-Setting Year at Annual Meeting of Stockholders. Retrieved August 27, 2008, from http://www.chevron.com/News/Press/release/?id=2008-05-28
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