Chevron Corporation – Company Information

The Chevron Corporation is one of the major global oil companies and it is considered to be among the world’s six “supermajors”. It is the second biggest oil company in the United States, after Exxon Mobil.

The company is based in San Ramon, California, with operations in over 150 countries and a total of around 61,900 employees.

Chevron claims that its average net production was 2.61 million barrels of oil-equivalent per day in 2012.

Chevron is active in nearly every aspect of the oil and gas industry, including: exploration, production, refinery, marketing, and distribution of their products.

The company was originally called the Standard Oil Co. of California (SoCal), which was created in 1911 because of the Sherman Antitrust Act – a move by the US government which prohibited business activities that were considered to be anticompetitive.

The act forced Standard Oil Co. (California) to separate from its parent company Standard Oil.

In the 1930’s SoCal began using the Chevron brand name in a lot of its products.

Saudi Arabia granted SoCal a concession to find oil in 1933. The company discovered oil in the area in 1938. A decade later (in 1948) SoCal came across the biggest oil field in the world in Saudi Arabia (Ghawar).

In 1984 SoCal changes its name to Chevron Corporation. 

Chevron  acquired Texaco for $45 billion in 2000. The acquisition made Chevron one of the world’s largest oil companies with a market value of around $95 billion.

Chevron Corporation – Business Focus

Chevron is active in almost every facet of the energy industry.

The company is involved in: the exploration, production, and transportation of crude oil and natural gas, marketing and distribution of fuels and lubricants, refinery, manufacturing petrochemical products, generating power and producing geothermal energy, in addition to researching energy efficient solutions for the future.

Chevron has a number of business divisions involved in:

  • Exploration & Production of oil and natural gas
  • Manufacturing, Products & Transportation
  • Mining operations
  • Production and marketing of petrochemicals and additives
  • Power operations in the U.S. and Asia

Chevron Corporation – Company Overview

  • CEO and Chairman: John S. Watson
  • Company headquarters: San Ramon, California, U.S.
  • Employees: 64,600 (approximately)
  • Type: Public
  • Traded as: NYSE: CVX
  • S&P 500 Component
  • Company subsidiaries include: Chevron United Kingdom Limited, Chevron U.S.A. Holdings Inc., Chevron U.S.A. Inc., Oilfield Concession Operators Limited, PT Chevron Pacific Indonesia, Saudi Arabian Chevron Inc., Texaco Britain Limited, Texaco Capital Inc., Texaco Captain Inc., Texaco Inc., Texaco Overseas Holdings Inc., Texaco Venezuela Holdings (I) Company, TRMI-H LLC, Union Oil Company of California, Unocal Corporation, Unocal International Corporation, Unocal Pipeline Company, West Australian Petroleum Pty Limited, and more (see the full list of Chevron Subsidiaries) 

Chevron Corporation – Financial Results

Chevron Financial Results 2013

Consolidated Statement of Income

Sales and other operating revenues: $220.156 billion USD (2013) – $230.590 billion USD (2012)

Income from equity affiliates: $7.527 billion (2013) – $6.889 billion (2012)

Other income: $1.165 billion USD (2013) – $4.430 billion (2012)

Total Revenues and Other Income: $228.848 billion USD (2013) – $241.909 billion (2012)

Total Costs and Other Deductions: $192.943 billion USD (2013) – $195.577 billion (2012)

Income Before Income Tax Expense: $35.905 billion USD (2013) – $46.332 billion (2012)

Income Tax Expense: $14.308 billion USD (2013) – $19.996 billion (2012)

Net Income: $21.597 billion USD (2013) – $26.336 USD (2012)

Net Income Attributable to Chevron Corporation: $21.423 USD (2013) – $26.179 billion USD (2012)

Per Share of Common Stock (Basic): $11.18 (2013) – $13.42 (2012)

Per Share of Common Stock (Diluted): $11.09 (2013) – $13.32 (2012)

Consolidated Statement of Comprehensive Income 

Comprehensive Income: $24.387 billion USD (2013) – $25.989 billion USD (2012)

Comprehensive Income Attributable to Chevron Corporation: $24.213 billion USD (2013) – $25.832 billion USD (2012)

Consolidated Balance Sheet

Total Assets: $253.753 billion USD (2013) – $232.982 billion USD (2012)

Total Liabilities: $103.326 USD (2013) – $95.150 bilion USD (2012)

Total Chevron Corporation Stockholders’ Equity: $149.113 billion USD (2013) – $136.524 billion USD (2012)

Total Equity: $150.427 billion USD (2013) – $137.832 billion USD (2012) 

Cash flow

Cash and Cash Equivalents: $16.245 billion USD (2013) – $20.939 billion USD (2012)

View the full Chevron Corporation 2013 financial results.


August 2, 2014: second quarter earnings increased slightly to $5.7 billion from $5.4 billion in the same quarter in 2013, despite lower production in Kazakhstan. Higher crude prices helped lift revenue. Unlike last year, in this quarter currency movements worked against the company. Chevron has invested more than $20 billion in five projects which should increase production by 20% within the next three years.