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Chevron Corporation () is one of the world's largest global Energy Companies . Headquartered in San Ramon, California , USA and active in more than 180 countries, it is engaged in every aspect of the Oil and Gas industry, including Exploration and Production ; Refining , marketing and transport; chemicals manufacturing and sales; and Power Generation . Chevron is one of the world's six " Supermajor " oil companies. HISTORY Chevron was originally known as Standard Oil of California, or Socal, and was formed amid the Antitrust breakup of Standard Oil in 1911. It was one of the "Seven Sisters" that dominated the world oil industry during the early 20th century. In 1933, Saudi Arabia granted Socal a concession to find oil, which finally occurred in 1938 when the largest oil field on earth was discovered. Socal's subsidiary California-Arabian Standard Oil Company evolved over the years, becoming the Arabian American Oil Company (ARAMCO) in 1944. In 1973, the Saudi government began buying into ARAMCO. By 1980, the company was entirely owned by the Saudis and in 1988, the name was changed to Saudi Arabian Oil Company ( Saudi Aramco ). In 1984 , the merger between Chevron and Gulf Oil became the largest merger in world history at the time. Because of its size, Gulf divested many of its worldwide operating subsidiaries and sold some Gulf stations and a refinery in the eastern United States to satisfy US antitrust requirements. In June 1998 Dynegy Inc. () was created from the merger of Chevron's former natural gas and natural gas liquids businesses with Dynegy's predecessor, NGC Corp. (formerly ). NGC had been an integrated natural gas services company around since 1994. CHEVRON CORP. APPLAUDS DYNEGY-ILLINOVA MERGER , Chevron Press Release Archives, Feb. 2, 2000 In a merger completed February 1 , 2000 , Illinova Corp. (formerly ) became a wholly-owned subsidiary of Dynegy Inc., in which Chevron also took a 28% stake. In 2001 , the former Chevron corporation merged with Texaco to form ChevronTexaco. On May 9 , 2005 , ChevronTexaco announced it would drop the Texaco Moniker and return to the Chevron name. Texaco will remain as a brand under the Chevron Corporation. On August 19 , 2005 , Chevron merged with the Unocal Corporation , a move which, because of Unocal's large South East Asian geothermal operations, made Chevron the largest producer of Geothermal Energy in the world. {Link without Title} OVERVIEW ]] Chevron employs approximately 59,000 people worldwide and had approximately 12 billion barrels (1.9 km³) of oil-equivalent net proved reserves at December 31 , 2003 . Daily production in 2003 was 2.5 million net oil-equivalent barrels (400,000 m³) per day. In addition, the company had a global refining capacity at year-end 2003 of 2.2 million barrels (350,000 m³) of Crude Oil per day. The company has a worldwide marketing network in 84 countries with approximately 24,000 retail sites, including those of affiliate companies. The company also has interests in 13 Power Generating assets in the United States , Asia , and Europe . Chevron also has gas stations in Western Canada . In 2003 , it was revealed that the company had engaged in illegal trade with Iraq and had to pay a fourteen thousand dollar fine to the US government. The company marked its 125th anniversary in 2004 , tracing its roots to an Oil discovery at Pico Canyon, north of Los Angeles. This find led to the formation, in 1879 , of the Pacific Coast Oil Company, the predecessor of Chevron Corporation. Another side of the genealogical chart points to the 1901 founding of The Texas Fuel Company, a modest enterprise that started out in three rooms of a corrugated iron building in Beaumont, Texas . This company would later become known as Texaco . Chevron was headquartered in San Francisco for nearly a century before it relocated its headquarters across the Bay to San Ramon CA. Chevron's headquarters buildings at 555 and 575 Market Street , built in the mid-1960s, in San Francisco were sold in December 1999. Its original headquarters were at 200 Bush St., built in 1912. [http://www.sfbctc.org/highrise-91701.htm ]] Chevron is the owner of the Standard Oil trademark in a 16-state area of the western and southeastern United States. To maintain ownership of the mark, the company owns and operates one Standard-branded Chevron station in each state of its area. {Link without Title} Chevron also is currently the owner of the trademark rights to Texaco brand gasoline. Texaco fuels are now supplied by Chevron's network of wholesalers. Chevron is the only brand of gas used by several automakers when testing vehicles, including General Motors and Toyota . ( Ford does as well despite a strategic alliance with BP .) Chevron also has often had one of the highest brand loyalty rates for gasoline in America, with only Shell and BP (through Amoco ) having equally high rates. Chevron will be a significant backer in the Iraq Oil, Gas, Petrochemical & Electricity Summit, which will start on May 28 and end on May 30, told an Iraq Directory on April 17 , 2007 . {Link without Title} Chevron Shipping Company is a wholly owned subsidiary company which handles the maritime transport operation for Chevron Corporation. The Company President is Mike Carthew and Operations Manager is Alex Walker. The fleet comprises crude oil and product tankers as well as three gas tankers operated by Chevron Shipping for other companies. The fleet is divided into two sections: The US fleet transports oil products from Chevron Refineries to customers in the US. The ships are manned by US citizens and are flagged in the US. The International fleet vessels are flagged in the Bahamas and have officers and crews from many different nations. The largest ships are 308,000 tonne VLCC s. The job of the international fleet is to transport crude oil from the oilfields to the refineries. The international fleet mans two LPG tankers and one LNG tanker. Two more LNG tankers are on order. The international fleet took delivery of a cadet-training vessel in 2007. The Capricorn Voyager has larger accommodation and classrooms so that up to 12 Cadets may be trained as officers on board. The ship is a 105000 tonne crude tanker. The US fleet also took delivery of a new ship in 2007 - the Mississipi Voyager . Chevron ships originally had names beginning with "Chevron", such as the Chevron Washington and Chevron South America, or were named after former or serving Directors of the company. Samuel Ginn, William E Crain and most notably Condoleezza Rice were amongst those honoured. All the ships were renamed in 2001 to reflect the corporate merger with Texaco . The International fleet ships are all named after celestial bodies or constellations (Orion Voyager, Altair Voyager etc) and the US ships are named after states (Washington Voyager, Colorado Voyager etc). ENERGY TECHNOLOGIES The company also develops, and commercializes advanced energy technologies, including Fuel Cell s, Photovoltaics , and advanced batteries, and has said it is active in research and development efforts to utilize Hydrogen as a Fuel for Transport and Power . Additionally, the company is investing in the field of Nanotechnology , evaluating a new class of molecular building blocks that potentially may be useful in many industries. MARKETING BRANDS Fuel
Convenience Stores
Lubricants
Fuel Additives
Promotional BOARD OF DIRECTORS As of April 2007 {Link without Title} :
Former members of the board of directors: Condoleezza Rice . ENVIRONMENTAL RECORD See Also: Criticism of the petroleum industry Companies in the Petroleum -based energy industry generally draw a wide range of criticism, and are often referred to as Big Oil . Because of the inelasticity of the demand of petroleum and the high risk nature of operations abroad, the companies involved in the industry have been accused of playing a large role in influencing economic and Foreign Policies in nations across the globe. Some criticism is directed at the industry in general, in that the burning of fossil fuels contributes to Air Pollution and Global Warming , and that extractive operations spoil natural landscapes. Large energy companies are often suspected of resisting Alternative Energy , for example buying patents to new technological advances to stop more energy efficient modes of transport. Chevron Corporation in particular is responsible for severe ecological destruction. Texaco, which became part of Chevron in 2001, dumped over 18 billion gallons of toxic wastewater into the Amazon rainforests from 1964-1992, in what has become known as the “rainforest Chernobyl,” and is often considered one of the world’s worst ecological catastrophes.http://www.texacotoxico.org/eng/index.php?option=com_content&task=view&id=47&Itemid=53&PHPSESSID=52324ae33215c1944e30a4857b133e08 http://www.texacorainforest.org/ http://select.nytimes.com/gst/abstract.html?res=F10B11FD395B0C738EDDA90994DD404482&n=Top%2fNews%2fBusiness%2fCompanies%2fChevron%20Corporation Various Ecuadorian groups have sued Chevron for its activities, arguing it purposefully misrepresented its activities in the rainforest. Chevron’s attorneys maintain they are being victimized by profit-seeking plaintiffs. http://www.vanityfair.com/politics/features/2007/05/texaco200705 In the U.S., Chevron’s activities in sued Chevron and other oil companies for using MTBE, a gasoline additive that the attorney general claimed polluted much of the state's water supply. http://knowmore.org/index.php/Chevron_Texaco_Corporation Chevron’s African operations have also been criticized as environmentally unsound. http://www.africaresource.com/content/view/46/68/ In 2002, Angola became the first African nation to ever fine a major multinational corporation operating in its own waters when it demanded 2 million dollars in compensation for oil spills allegedly caused by Chevron’s poor maintenance. http://news.bbc.co.uk/1/hi/business/2077836.stm Defenders of Chevron’s environmental record point to recent changes in the corporation, particularly its pledge, as of 2004, to combat Global Warming . http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2006/03/22/BUGKPHRTJ71.DTL&type=business ABUSE AND DEATH OF NIGERIAN PROTESTERS On May 28, 1998, as " covers these and other topics. US District Judge Susan Illston , allowing a lawsuit brought by victims and victims' families against Chevron to proceed, said that there is evidence that Chevron has hired, supervised, and provided transportation to Nigerian military forces known for their "general history of committing abuses." {Link without Title} ACCUSATIONS OF IRRESPONSIBILITY Chevron has been accused of not fulfilling its community responsibilities in Cabinda , Angola. Chevron's employees work in isolation in the Malongo terminal, which is protected by barbed wire fence and guarded gates because of security concerns. There is no interaction with the local people and the local market, because water, groceries and other commodities are imported duty free from overseas. In a survey Cabindans expressed their concern that the multi-billion dollar oil industy has not improved their daily lives. {Link without Title} In 2003 , it was revealed that the company had engaged in illegal trade with Iraq and had to pay a fourteen thousand dollar fine to the US government. CHEVRON & CONDOLEEZZA RICE In addition to serving on the board of directors for the Chevron Corporation, Condoleezza Rice headed Chevron's committee on public policy until she resigned on January 15, 2001, to become National Security Advisor to President George W. Bush. Chevron honored Rice by naming an oil tanker Condoleezza Rice after her, but controversy led to its being renamed Altair Voyager. {Link without Title} ARTICLES FROM MANAGEMENT David J. O'Reilly
Peter Robertson
John Gass
SEE ALSO REFERENCES EXTERNAL LINKS General Information
Environmental Efforts
Equal opportunity
Criticism
^ Carla Marinucci. Chevron redubs ship named for Bush aide Condoleezza Rice drew too much attention. San Francisco Chronicle, May 5, 2001. Retrieved July 12, 2005. |
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