Chevron Corporation

Chevron Corporation is a multinational integrated energy company based in the United States. It is the fifth largest oil company in the world and is invested in every level of the fossil fuel industry, including exploration, extraction, refining, research and development. Its size and scope makes it one of the six so-called "supermajor" oil companies.

Chevron Corporation Overview

Chevron's oldest predecessor was Pacific Coast Oil Company, formed in 1879. By 1895, PCO had launched the George Loomis,

the first California steel tanker with the capacity to ship 6,500 barrels of crude oil from Ventura to San Francisco.

Today, Chevron has a global network in 84 countries with over 24,000 retail sites. Chevron also owns the trademark rights to Texaco gasoline and boasts one of the highest brand loyalties for gasoline in the United States, competing with Shell and BP.c

Chevron Timeline

1911: Chevron was known as Standard Oil Company California after the antitrust breakup of John D. Rockefeller's Standard Oil Company.

1926: Standard Oil Company of California became known as SoCal.

1948: SoCal discovered the largest oil field on earth in Saudi Arabia, leading to the formation of the company's

subsidiary, California-Arabian Standard Oil Company, or ARAMCO. Their name changed to Saudi Aramco (Saudi Arabian Oil Company) in 1988 when it was bought out by the Saudis.

1984: SoCal merged with Gulf Oil and changed its name to Chevron Corporation.

1996: NGC and Chevron merged their natural gas and

natural gas liquids businesses, creating the largest wholesaler of these products of its kind.

2000: Chevron announced it was acquiring Texaco on October 15 to create the second largest oil company in the U.S. at the time.

2005: Chevron became the largest producer of geothermal energy worldwide when it purchased Unocal Corporation.

2010: In July Chevron stopped operations in the Mid Atlantic United States. In November of the same year, the company announced it was acquiring Atlas Energy Inc.c

Notable Feats

Chevron is known for its technological development in terms of alternative energy, including fuel cells, photovoltaics, advanced batteries and hydrogen fuel. The company is investing about $300 million a year into alternative fuel, going so far as to start its own biofuels business unit.

Chevron has a history of environmental damage, accused of discharging polluted water into the Ecuadorian rainforest between 1972 and 1993. As a result, there was crop loss and farm animal deaths, equating to billions of dollars in damages to locals. Fined $8.6 billion for the mess, Chevron has refused to pay.c

Chevron Corporation