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Chevron: Integrated Energy Company

August 17, 2015

Chevron traces its root to an 1876 oil discovery at Pico Canyon, north of Los Angeles. This led to the formation of the Pacific Cost Oil Co. Later, that company became Standard Oil Co of California. It took in the name of Chevron when it acquired Gulf Oil Corporation in 1984, which almost doubled the company’s global proven crude oil and natural gas reserves. At the time, the merger with Gulf was the largest in US history.

Another part of the company’s history started in 1901 when The Texas Fuel Company was formed in Beaumont, Texas. It later was known as The Texas Company and later Texaco. The two companies merged in 2001.

In 2005 Unacol Corporation was acquired with strengthened Chevron’s status as an energy industry leader, increasing the company’y crude and natural gas assets all over the world.

The firm’s global workforce consists of around 64,700 employees, including more than 3,200 station employees.

The company’s average net production in 2014 was 2.571 million oil-equivalent barrels per day. Around 74 percent of that production was realized outside the United States. At the end of 2014, Chevron had global refining capacity of 1.9 million barrels of oil per day.

Headquartered in San Ramon, California, Chevron through its subsidiaries, engages in petroleum, chemicals, and power and energy operations worldwide. It does business in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage and marketing of natural gas, as well as holds interests in a gas-to-liquid plant.

The Downstream segment engages in transporting crude oil petroleum products; marketing crude oil and refined products; transporting crude oil and refined products through pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing commodity petrochemicals and fuel and lubricant additives, as well as plastics for industrial uses.

Chevron is also active in other industries such as real estate and finance.

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