About the Company
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in San Ramon, California, and active in more than 180 countries. Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation. Chevron traces its history back to the 1870s to small California-based oil companies which were acquired by Standard and merged into Standard Oil of California. The company grew quickly on its own after the breakup of Standard Oil by continuing to acquire companies and partnering with others both inside and outside of California, eventually becoming one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s. In 1985, Socal merged with the Pittsburgh-based Gulf Oil and rebranded as Chevron; the newly merged company later merged with Texaco in 2001. Chevron manufactures and sells fuels, lubricants, additives, and petrochemicals, primarily in Western North America, the US Gulf Coast, Southeast Asia, South Korea and Australia. In 2018, the company produced an average of 791,000 barrels (125,800 m3) of net oil-equivalent per day in United States. Chevron is one of the largest companies in the world and the second largest oil company based in the United States by revenue, only behind fellow Standard Oil descendant ExxonMobil. Chevron ranked 10th on the Fortune 500 in 2023. The company is also the last-remaining oil and gas component of the Dow Jones Industrial Average since ExxonMobil's exit from the index in 2020. Chevron has been subject to numerous controversies arising out of its activities, the most notable of which being related to its activities and inherited liabilities from its acquisition of Texaco in the Lago Agrio oil field, which include allegations of both Chevron and Texaco collectively dumping 18 billion tons of toxic waste and spilling 17 million US gallons (64,000,000 L) of petroleum. Chevron and Texaco's activities were the subject of a lawsuit Chevron lost to Ecuadorian residents defended in Ecuadorian court by Steven Donziger. Due to accusations of Donziger bribing the Ecuadorian court and the subsequent disbarment and criminal contempt charges against Donziger, Chevron was accused by environmentalists and human rights groups of jailing Donziger and compelling the US Federal Government to deny Donziger due process of law.
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Latest $CVX News
Up 9% Year To Date, Will Chevron’s Gains Continue Following Q1 Results?
We expect the company’s stock to likely see little to no movement with its revenues and earnings matching expectations in its ...
Exxon and Chevron Q1 2024 earnings on deck; what to expect
U.S. oil majors Exxon (NYSE:XOM) and Chevron (NYSE:CVX) are scheduled to announce Q1 earnings results on Friday, April 26th, ...
Chevron-Exxon Faceoff Hinges on Growth Ambitions
Darren Woods’ oil titan has opened up a market-value lead of $178 billion, and it’s all down to low-cost production.
Chevron, Hess extend merger completion date by six months
Chevron and Hess extend merger completion date to October 22 as Exxon's arbitration over Guyana oil project continues.
These Stocks Are Moving the Most Today: Alphabet, Microsoft, Intel, Snap, Meta, Exxon, Chevron, and More
Alphabet shares surge after Google’s parent posts better-than-expected earnings and announces its first cash dividend, ...
Exxon and Chevron Both Face Lower Earnings. Why Exxon Could Pull Ahead.
The uptick in oil may not be reflected in Exxon and Chevron earnings, however, because it didn’t happen until the end of the ...
Hess Q1 Earnings Trump Forecasts Ahead of Acquisition by Chevron
Hess Corporation reported better-than-expected earnings in the first quarter of 2024 as the planned acquisition by Chevron ...
Chevron Stock Could Soon Bounce Back
The shares of oil and gas stock Chevron Corp (NYSE:CVX) are pulling back from their recent five-month peak, now on track for ...
Hess Sets Date for Shareholder Vote on Chevron Merger
Hess Corp on Wednesday said its board has set April 12 as the record date for the determination of the stockholders entitled ...
Chevron starts WPMP operations at Tengiz field, Kazakhstan
Chevron affiliate Tengizchevroil started operations at the Wellhead Pressure Management Project at Tengiz oil field in ...
Chevron arm launches $500 million fund to invest in low carbon technologies
Chevron's venture capital arm launched on Tuesday its third fund to invest in renewable energy technologies with a $500 ...
Chevron’s oil spills are profitable. We need to hold corporate polluters accountable | Opinion
Californians shouldn’t be paying the price with their lives and dollars while Big Oil strikes it rich off their own toxic oil ...
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