Corporate Functions To Migrate From California Over Next Five Years
Chevron has announced it would be relocating its headquarters from San Ramon, California to Houston, Texas.
All corporate functions are expected to migrate to Houston over the next five years, the energy company said, bar those that support its California operations, which include oilfields, technical facilities and two refineries. Chevron chairman and CEO, Mike Wirth, and vice chairman, Mark Nelson, will move to Houston before the end of 2024.
The company currently has some 7,000 employees in the Houston area and about 2,000 employees in San Ramon.
Chevron, one of the world’s leading integrated energy companies, produces crude oil and natural gas and manufactures transportation fuels, lubricants, petrochemicals and additives. It also focuses on developing lower carbon businesses such as renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies.
The company reported second-quarter earnings of US$4.4 billion, down from US$6.0 billion compared with last year amid lower margins on refined product sales, the absence of prior year favorable tax items and negative foreign currency effects.
Chevron is a member of the Breakbulk Global Shipper Network, a worldwide network of companies and executives involved in the engineering, manufacturing and production of project cargo. The next in-person meet-up for BGSN members will be at Breakbulk Americas 2024 on 15-17 October in Houston.
