Chevron Corporation (NYSE: CVX) is one of the world's largest energy companies, with revenues of US$246.3 billion in 2022, headquartered in San Ramon, California, USA and with operations in more than 180 countries worldwide. Its operations cover all aspects of the oil and gas industry: exploration, production, refining, marketing, transportation, petrochemicals, power generation and more. Chevron was formerly known as Standard Oil of California (Socal), a result of the 1911 split of Standard Oil due to the antitrust laws.
The 2017 Fortune 500 US list was released on 7 June 2017 and ranked 19th. On 19 July 2018, the Fortune 500 list was released and Chevron was ranked 33rd. [2] In December 2018, the World Brand Lab released the 2018 World's Top 500 Brands list, with Chevron ranked 347th.
Chevron was originally known as Standard Oil of California (Socal), the result of the 1911 split of Standard Oil due to an antitrust case. Chevron was one of the "Seven Sisters" that ruled the world's oil industry in the early 20th century. In October 2001, Chevron acquired one of its major competitors, Texaco, for US$39 billion, and adopted ChevronTexaco as its name. The Chevron Corporation.
Chevron Corporation is one of the world's largest integrated energy companies and one of the largest and most competitive companies in the world. With more than a century of leadership in product innovation and customer value creation, the company provides products and services under the Chevron, Texaco and Caltex brands to customers in more than 100 countries around the world. As a result, Chevron has built long-term partnerships with many of the world's largest and most successful companies in exploration and development, refining, marketing and transportation, as well as chemical production, marketing and power generation. 2012-2013 revenues were $233,899 million.
In the beginning
The Texas Fuel Company was first established in 1901 in three rooms in a corrugated iron building in Beaumont, Texas. It was a rustic-looking company that would become known as Texaco.
Growth and development
The Chevron Group was originally called Standard Oil of California, or simply SoCal, and was founded in 1911 during the John D Rockefeller anti-trust break-up. In 1933, Saudi Arabia gave Standard Oil of California the right to search for oil and in 1938 discovered crude oil, and in the early 1950s Standard Oil of California discovered the world's largest oil field at Ghawar in Saudi Arabia. A subsidiary of California Standard Oil, California-Arabian Standard Oil developed for several years before becoming Arabian American Oil Company (Aramco) in 1944, and in 1973 the Saudi government began acquiring Aramco. By 1980, the entire Aramco was owned by Saudi Arabia and in 1988 it was renamed Saudi Arabian Oil Company (Saudi Aramco). Standard Oil of California merged with Gulf Oil in 1984, making it the largest acquisition in history at the time. Under anti-trust regulations, Standard Oil of California divested many of Gulf Oil's subsidiaries and sold Gulf Oil's gas stations and a refinery in the eastern United States.
Began with current name
In June 1992, DYN was acquired by Chevron's natural gas and LNG business and Natural Gas Clearinghouse Corporation (NYSE: NGC), DYN's predecessor. In a merger completed on February 1, 2000, Illinois Gas Corporation (NYSE: ILN) became a wholly owned subsidiary of DYN, in which Chevron holds a 28% stake.
A new century of growth
In 2001, Chevron Group merged with Texaco to become Chevron Texaco. On 9 May 2005, Chevron Texaco announced that it was abandoning Texaco and reverting to Chevron, which remains a brand of the Chevron Group. Chevron successfully acquired Unocal on 19 August and became the world's largest geothermal energy provider due to Unocal's extensive geothermal developments in South East Asia.