Chevron Corporation

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"CVX" redirects here. For the United States Navy future aircraft carrier program, see United States Navy CVN-21 program.
Chevron Corporation
Type Public
Traded as NYSE: CVX Euronext: CHTEX
Dow Jones Industrial Average Component
Industry Oil and gasoline
Mining
Founded 1879 as
Standard Oil of California
Headquarters San Ramon, California,
United States
Area served Worldwide
Key people John S. Watson
(Chairman and CEO)
Products Oil
Petroleum
Natural gas
Petrochemical
Fuel
Lubricant
List of marketing brands
Revenue Increase US$ 204.928 billion (2010)[1]
Operating income Increase US$ 032.055 billion (2010)[1]
Net income Increase US$ 019.024 billion (2010)[1]
Total assets Increase US$ 184.769 billion (2010)[1]
Total equity Increase US$ 105.081 billion (2010)[1]
Employees Approx. 62,000 (2010)[1]
Website Chevron.com
File:Big Oil.svg
Chart of the major energy companies dubbed "Big Oil" sorted by latest published revenue
File:Chevronheadquartersentrance.jpg
Entrance to Chevron's headquarters complex in San Ramon, California
File:Chevronheadquarters.jpg
One view of the sprawling Chevron headquarters complex
File:Standardgasstation.jpg
One of 16 Chevron stations branded as "Standard" to protect Chevron's former trademark; this one is in Las Vegas, Nevada

Chevron Corporation (NYSE: CVX Euronext: CHTEX) is an American multinational energy corporation. Headquartered in San Ramon, California, and active in more than 180 countries, it is engaged in every aspect of the oil, gas, and geothermal energy industries, 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. For the past five years, Chevron has been continuously ranked as one of America's 5 largest corporations by Fortune 500.[2] In 2011 it was named the 16th largest public company in the world by Forbes Global 2000.[3][4]

History

Chevron traditionally traces its roots to an oil discovery in Pico Canyon (now the Pico Canyon Oilfield) north of Los Angeles. The discovery led to the formation, in 1879, of the Pacific Coast Oil Company, the oldest predecessor of Chevron Corporation.

In 1895, the company initiated its enduring marine history when it launched California's first steel tanker, the George Loomis, which could ship 6,500 barrels of crude between Ventura and San Francisco.[5] Another side of the genealogical chart points to the founding of The Texas Fuel Company in 1901, a modest enterprise that started out in three rooms of a corrugated iron building in Beaumont, Texas. This company was known as the Texas Company and later Texaco.

Chevron Corporation was originally known as Standard Oil Co. (California) and was formed amid the antitrust breakup of John D. Rockefeller's Standard Oil company in 1911. It was one of the "Seven Sisters" that dominated the world oil industry in the early 20th century. In 1926, the company was renamed Standard Oil Co. of California or Socal.[6][7] In 1933, Saudi Arabia granted SoCal a concession to find oil, and oil was found in 1938. In 1948, SoCal discovered the world's largest oil field (Ghawar) in Saudi Arabia.[8] SoCal's subsidiary, California-Arabian Standard Oil Company, developed over years, to become 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).

Standard Oil of California and Gulf Oil merged in 1984, the largest merger in history at that time. Under the antitrust regulation, SoCal divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States. SoCal changed the name to Chevron Corporation.[9]

In January 1996, NGC (formerly NYSE: NGL) and Chevron announced plans to merge Chevron’s natural gas and natural gas liquids business with NGC. On May 23, 1996, the companies reached an agreement in principle to merge their business. Under the agreement, Chevron transferred its natural gas gathering, operating and marketing operation to NGC in exchange for a roughly 25 percent equity stake in NGC. On August 30, shareholders approved the deal creating North America’s largest natural gas and gas liquids wholesaler. In 1998, NGC Corporation was renamed Dynegy (NYSE: DYN).[10][11]

In a merger completed February 1, 2000, Illinova Corp. (formerly NYSE: ILN) became a wholly owned subsidiary of Dynegy Inc., in which Chevron also took a 28% stake.[12] However, Chevron in May 2007 sold its roughly 12 percent (at the time) Class A common stock in the company for approximately $985 million, resulting in a gain of $680 million.[13][14]

On October 15, 2000 Chevron announced it would acquire Texaco (NYSE: TX) creating the second largest oil company in the United States and the world’s fourth-largest publicly traded oil company with a combined market value of approximately $95 billion. On October 9, 2001, the shareholders of Chevron and Texaco voted to approve the merger creating ChevronTexaco. The deal was valued at $45 billion.[15][16][17]

On May 9, 2005, ChevronTexaco announced it would drop the Texaco moniker and return to the Chevron name. Texaco remains as a brand under the Chevron Corporation.

On April 4, 2005, Chevron announced it planned to purchase Unocal Corporation (NYSE: UCL) for $18.4 billion increasing the company’s petroleum and natural gas reserves by about 15 percent. On August 10, 2005, Unocal Corporation shareholders approved Chevron’s acquisition of the company. The deal was valued at $18 billion.[18][19] Because of Unocal's large South East Asian geothermal operations, Chevron became the world's largest producer of geothermal energy. "Chevron claims energy debate". BBC News. 2006-02-19. http://news.bbc.co.uk/2/hi/business/4716334.stm. Retrieved 2009-12-31</ref>

In July 2010, Chevron ended retail operations in the Mid Atlantic US, removing the Chevron and Texaco names from 1,100 stations in Delaware, Indiana, Kentucky, North Carolina, New Jersey, Maryland, Ohio, Pennsylvania, South Carolina, Virginia, West Virginia, Washington, D.C., and parts of Tennessee.[20]

On November 9, 2010, Chevron announced it would acquire Pennsylvania based Atlas Energy Inc. (NASDAQ: ATLS) for $3.2 billion in cash and an additional $1.1 billion in existing debt owed by Atlas. On February 18, 2011, the shareholders of Atlas energy voted to approve the merger. The deal was valued at $4.3 billion.[21][22]

Overview

Chevron employs approximately 67,000 people worldwide (of which 27,000 are U.S.-based) 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.

Chevron was headquartered in San Francisco for nearly a century before it relocated across the bay to San Ramon, CA. The headquarters at 555 and 575 Market Street, built in the mid-1960s, in San Francisco were sold in December 1999.[23] Its original headquarters were at 225 Bush St., built in 1912.[24] Now, their headquarters are at 6001 Bollinger Canyon Road, San Ramon, CA.

Chevron is the owner of the Standard Oil trademark in 16 states in the western and southeastern U.S. To maintain ownership of the mark, the company owns and operates one Standard-branded Chevron station in each state of the area.[25] Chevron also owns the trademark rights to Texaco brand gasoline. Chevron's network of wholesalers supplies Texaco fuels.

Several automakers, including General Motors and Toyota, use gasoline often from Chevron when they test vehicles. Ford uses Chevron gas also in North America, despite its strategic alliance with BP. Chevron also has often had one of the highest brand loyalty for gasoline in America, with only Shell and BP (through Amoco) having equally high loyalty.[citation needed]

Chevron Shipping Company is a wholly owned subsidiary company which handles the maritime transport operation for Chevron Corporation. 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 VLCCs. 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.

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 honored, but the ship named after Rice was subsequently renamed as Altair Voyager.[26] All the ships were renamed in 2001 to reflect the corporate merger with Texaco. Ships in the international fleet are all named after celestial bodies or constellations, such as Orion Voyager and Altair Voyager, and the American ships are named after the states in the country, as in Washington Voyager and Colorado Voyager.

Alternative energy

The company is developing technology for alternative energy, including fuel cells, photovoltaics, advanced batteries, and hydrogen fuel for transport and power.

Electric Vehicles

Chevron may be squelching all access to large NiMH batteries through its control of patent licenses in order to remove a competitor to gasoline.[27] This culminated in a lawsuit against Panasonic and Toyota over production of the EV-95 battery used in the RAV4 EV[citation needed].

However, with the Lithium-ion battery, it appears there will be plenty of gas and electricity for all interested parties for the foreseeable future. Chevron owns Ovonics, the leading producer of Lithium Ion Batteries. Ovonics was purchased by Chevron-Texaco in 2001, reportedly so Chevron-Texaco could expand their business into the emerging hybrid market. But, some in the alternative energy field see an ulterior motive, so Chevron-Texaco can suppress the development of Lithium Ion Batteries. They feel this way because Ovonics has shown little interest in selling Lithium Ion Batteries to electric vehicle enthusiasts since purchasing the company.[28] Nevertheless, Ovonics does continue to work with commercial manufacturers.

Biofuels

Chevron is investing $300M USD a year into alternative fuel sources, and has created a biofuels business unit.[29][30]

Chevron and US-DOE's National Renewable Energy Laboratory (NREL) announced that they had entered into a collaborative agreement to produce biofuels from algae. Chevron and NREL scientists would develop algae strains that can be economically harvested and processed into transportation fuels, such as jet fuel.[31]

Solar Power

Chevron has invested in Solar Power such as the 500 kW Solarmine photovoltaic solar project in Fellows, California, as well as the 1000 kW concentrated photovoltaic solar field in Questa, New Mexico.[32]

Controversies

Great American streetcar scandal

In 1950, then "Standard Oil" along with General Motors and Firestone were charged and convicted of criminal conspiracy for their part in the Great American streetcar scandal. The scandal included purchasing streetcar systems throughout the United States and dismantling and replacing them with buses,[33] in order to increase their sales of petroleum, automobiles and tires.

Tax evasion

Chevron was found to have evaded $3.25 billion in federal and state taxes from 1970 to 2000 through a complex petroleum pricing scheme involving a project in Indonesia.[34] [35] Chevron and Texaco, before they merged in 2001, each owned 50 percent of a joint venture called Caltex, which pulled crude oil from the ground in a project with the Indonesian state oil company, Pertamina. Chevron was accused of reducing its tax liabilities in the U.S. by buying oil from Caltex at inflated prices. One internal Chevron document set the price it paid Pertamina for oil at $4.55 a barrel higher than the prevailing market price. Chevron was then able to overstate deductions for costs on its U.S. income tax returns. Indonesia appeared to levy tax on this oil at 56%, a rate far higher than the corporate tax rate in the U.S. Because the United States gives companies a credit for taxes paid to foreign governments, tax paid to the Indonesian government reduces tax to the U.S. government.

Caltex transferred fund out of the U.S. to Indonesia, because the Indonesian government compensated Caltex for the excessively priced oil and the extra taxes paid by giving oil for free. Because Caltex had to pay taxes on that oil, too, the Indonesian government gave it even more oil to cover the taxes.

Environmental damage in Ecuador

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From 1972 to 1993, Texaco operated development of the Lago Agrio oil field in Ecuador. Ecuadorian farmers and indigenous residents accused Texaco (now Chevron), of making residents ill and damaging forests and rivers by discharging 18 billion gallons of formation water into the rainforest, without any remediation. They sued Chevron for extensive environmental damage caused by these operations, which have sickened thousands of Ecuadorians and polluted the Amazon rainforest. The Ecuadorian court could have imposed a legal penalty of up to $28 billion in a class action lawsuit filed on behalf of Amazonian villagers in the region. Chevron claimed that agreements with the Ecuadorian Government exempted the company from any liabilities.[36][37][38] A documentary on the issue, Crude, premiered in September 2009.

From 1977 until 1992 Texaco (Texpet), a subsidiary of Texaco Inc., was a minority member of this consortium with Petroecuador, the Ecuadorian state-owned oil company, as the majority partner. Since 1990, the operations have been conducted solely by Petroecuador. At the conclusion of the consortium and following an independent third-party environmental audit of the area, Texaco formally agreed with the Republic of Ecuador and Petroecuador to conduct a three year remediation program at a cost of $40 million. The government subsequently granted Texpet and all related corporate entities a full release from any and all environmental liability arising from its operations.[36] Based on the history above, Chevron believes that "this lawsuit lacks legal or factual merit." However, water and soil samples taken by an Ecuadorean scientific team after Texaco departed in 1998 found almost half still contained unsafe levels of petroleum hydrocarbons.[39]

On 15 February 2011, a court in Ecuador fined Chevron $8.6 billion over pollution to the country's Amazon region by Texaco between 1972 and 1992, with campaigners claiming loss of crops and farm animals as well as increased local cancer rates.[39][40][41] The action was brought against Chevron by 30,000 Ecuadorean people, and is the first time that indigenous people have successfully sued a multinational corporation in the country where the pollution took place.[39][40] The trial had begun in 2003.[42] The total penalty imposed on Chevron is $9.5 billion as it was ruled that the oil company must pay an additional 10 per cent legally mandated reparations fee.[40] $27 billion was the sum total requested by plaintiffs, $18.4 billion more than was eventually granted by the court.[41] The Ecuadoreans expressed happiness that Chevron was declared guilty, though also expressed dismay that the award of $8.6 billion would not be enough to make up for the damage caused by the oil company.[43] However, environmental activists wish this case to serve as a precedent against pollution causing business being carried out by firms in developing countries.[40] Nonprofit organization Amazon Watch described the outcome of the case as "unprecedented".[43] Chevron described the lawsuit as an "extortion scheme" and refused to pay the fine.[39] Chevron has no international obligation to pay, and no assets in Ecuador for the government to seize.

Pollution in Richmond, California

Chevron’s activities at its century-old Richmond refinery have been the subject of ongoing controversy. The project generated over 11 million pounds of toxic materials and caused more than 304 accidents.[44] The Richmond refinery paid $540,000 in 1998 for illegally bypassing waste water treatments and failing to notify the public about toxic releases.[45] Overall, Chevron is listed as potentially liable for 95 Superfund sites, with funds set aside by the EPA for clean-up.[46] In October 2003, the state of New Hampshire 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.[47] The pollution created by the refinery has also had adverse health effects on the residents of Richmond, including relatively high rates of respiratory diseases and cancer when compared to the state and national averages, and the health issues related to emergency spills.[48]

Oil spills in Angola

Chevron's operations in Africa have also been criticized as environmentally unsound.[49] In 2002, Angola became the first country in Africa ever to levy a fine on a major multinational corporation operating within its borders, when it demanded $2 million in compensation for oil spills allegedly caused by Chevron.[50]

Violation of the Clean Air Act in the USA

On October 16, 2003, Chevron U.S.A. settled a charge under the Clean Air Act, which reduced harmful air emissions by about 10,000 tons a year.[51] In San Francisco, Chevron was filed by a consent decree to spend almost $275 million to install and utilize innovative technology to reduce nitrogen and sulfur dioxide emissions at its refineries.[52] After violating the Clean Air Act at an offline loading terminal in El Segundo, California, Chevron paid a $6 million penalty as well as $1 million for environmental improvement projects.[53] Chevron also had implemented programs that minimized production of hazardous gases, upgraded leak detection and repair procedure, reduced emissions from sulfur recovery plants, and adopted strategies to ensure the proper handling of harmful benzene wastes at refineries.[51] Chevron also spent about $500,000 to install leakless valves and double-sealed pumps at its El Segundo refinery, which could prevent significant emissions of air contaminants.[53]

Defenders of Chevron's environmental record point to recent changes in the corporation, particularly its pledge in 2004 to combat global warming.[54]

NiMH battery technology for automobiles

Main article: Patent encumbrance of large automotive NiMH batteries

ECD Ovonics founder, Stan Ovshinksy, and Dr. Masahiko Oshitani of the Yuasa Company, invented the NiMH technology used in hybrid vehicles .[55][56] In 1994, General Motors acquired a controlling interest in Ovonics's battery development and manufacturing business. On October 10, 2001, Texaco purchased GM's share in GM Ovonics, and Chevron completed acquisition of Texaco six days later. In 2003, Texaco Ovonics Battery Systems was restructured into Cobasys, a 50/50 joint venture between Chevron and Energy Conversion Devices (ECD) Ovonics.[57] Chevron's influence over Cobasys extends beyond a strict 50/50 joint venture. Chevron holds a 19.99% interest in ECD Ovonics.[58] In addition, Chevron maintains the right to seize all of Cobasys' intellectual property rights in the event that ECD Ovonics does not fulfill its contractual obligations.[59] On September 10, 2007, Chevron filed a legal claim that ECD Ovonics has not fulfilled its obligations. ECD Ovonics disputes this claim.[60] Since that time, the arbitration hearing was repeatedly suspended while the parties negotiate with an unknown prospective buyer. No agreement has been reached with the potential buyer.[61] Cobasys's patents relating to NiMH batteries expire in 2015.

File:A Chevron in Chilliwack.jpg
Sometimes gas stations have restaurants in them, such as this one in Chilliwack, British Columbia, which has a White Spot inside it.

In her book, Plug-in Hybrids: The Cars that Will Recharge America, published in February 2007, Sherry Boschert argues that large-format NiMH batteries are commercially viable but that Cobasys refuses to sell the batteries or license the technology to small companies or individuals. Boschert argues that Cobasys accepts only very large orders for the batteries. Major automakers showed little interest in placing large orders for large-format NiMH batteries. However, Toyota complained about the difficulty in getting smaller orders of large format NiMH batteries to service the existing 825 RAV-4EVs. Because no other companies were willing to place large orders, Cobasys was not manufacturing or licensing large format NiMH battery technology for automobiles. Boschert concludes that "it's possible that Cobasys (Chevron) is squelching all access to large NiMH batteries through its control of patent licenses in order to remove a competitor to gasoline. Or it's possible that Cobasys simply wants the market for itself and is waiting for a major automaker to start producing plug-in hybrids or electric vehicles."[27]

In an interview with Economist, Ovshinsky subscribed to the former view. "I think we at ECD we made a mistake of having a joint venture with an oil company, frankly speaking. And I think it’s not a good idea to go into business with somebody whose strategies would put you out of business, rather than building the business."[62]

In December 2006, Cobasys and General Motors announced that they had signed a contract under which Cobasys provides NiMH batteries for the Saturn Aura hybrid sedan.[63] In March 2007, GM announced that it would use Cobasys NiMH batteries in the 2008 Chevrolet Malibu hybrid as well.

In October 2007, International Acquisitions Services and Innovative Transportation Systems filed suit against Cobasys and its parents for refusing to fill an order for large-format NiMH batteries to be used in the electric Innovan.[61]

In August 2008, Mercedes-Benz U.S. International filed suit against Cobasys, on the ground Cobasys did not tender the batteries it agreed to build for Mercedes-Benz’s planned hybrid SUV.[64]

Niger Delta shootings

On May 28, 1998, activists staged a demonstration and took several individuals hostage on a company oil platform in the Niger Delta, Nigeria. Nigerian police and soldiers were allegedly flown in with Chevron helicopters.[citation needed] Soldiers shot at the activists and subsequently two activists (Jola Ogungbeje and Aroleka Irowaninu) died from their wounds.[65] Chevron describes the situation as "a violent occupation of private property by aggressors seeking to extort cash payments from the company."[66][citation needed] The Nigerian government is reportedly 80% dependent upon oil production and is condemned by many for its reported treatment of environmentalists.[67] The documentary "Drilling and Killing" covers these and other topics.

U.S. District Judge Susan Illston, allowing a lawsuit brought by victims and victims' families against Chevron to proceed, said that there may be evidence that Chevron has hired, supervised, and/or provided transportation to Nigerian military forces known for their "general history of committing abuses."[68] In March 2008, the plaintiffs' lawyers, without explanation, "quietly moved to withdraw half of their claims" against Chevron.[69]

On December 1, 2008, a federal jury cleared Chevron of all charges brought against them in the case. The jury deliberated for almost two days. Chevron had claimed that the military intervention was necessary to protect the lives of its workers and considers the jury's decision vindication for the accusations of wrongdoing.[70]

Destruction of natural forest in Bangladesh

On 26 June 2008, a fire in Lawachhara (a natural forest-known to be highly rare of its kind in the region) had broken out as Chevron Corp. carried out a 3D seismic survey that was to be six-months long. The company had violated the conditions of government’s environment clearance certificate be not informing the ministry about the cracks that had previously occurred in nearby residents' properties due to explosions caused by the activities.[71]

UN sanctions

US Embassy Cable BAGHDAD 000791 relates to company negotiations re-investment in Iran in contravention of UN sanctions.[72] This document was intended to have been kept secret until 2029.[73]

New policy and development

File:Solarmine1.jpg
Chevron's 500kW Solarmine photovoltaic solar project in Fellows, California

Chevron has taken steps to reduce emissions of greenhouse gases and pursue cleaner forms of energy.[74] It has scored highest among U.S. oil companies for investing in alternative energy sources and setting targets for reducing its own emissions[74] and is the world's largest producer of geothermal energy, providing enough power for over 7 million homes.[75]

Chevron is currently considering an floating liquefied natural gas facility to develop offshore discoveries in the Exmouth Plateau of Western Australia.[76]

Board of directors

[77]

Condoleezza Rice is a former member of the board of directors, and also headed Chevron's committee on public policy until she resigned on January 15, 2001, to become National Security Advisor to President George W. Bush.

On September 30, 2009, John Watson, age 52, was elected Chairman of the Board and CEO, effective at the December 31, 2009 retirement of David J. O'Reilly

Marketing brands

File:Chevrongasstation.jpg
The typical Chevron gas station design that was used until 2006.
File:Newchevrongasstation.jpg
In 2006, Chevron began phasing in this gas station design.

Fuel

Convenience stores

  • Star Mart
  • Extra Mile
  • Redwood Market
  • Town Pantry

Lubricants

  • Delo (sold by Caltex and Chevron)
  • Havoline (sold by Caltex and Texaco)
  • Revtex (sold by Caltex)
  • Ursa (sold by Texaco)

Fuel additives

  • Techron - Chevron, Texaco (phased in during 2005), Caltex (phased in during 2006 and later)
  • Clean System 3 - Texaco (phased out during 2005 in favor of Techron)

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "2010 Form 10-K, Chevron Corporation". United States Securities and Exchange Commission. 2011-02-24. http://www.sec.gov/Archives/edgar/data/93410/000095012311017688/f56670e10vk.htm.
  2. ↑ Fortune 500, 2010 "America's Largest Corporations"CNNmoney.com
  3. ↑ "The World's Biggest Public Companies". Forbes. http://www.forbes.com/global2000/. Retrieved June 6, 2011.
  4. ↑ "Chevron". Forbes. http://www.forbes.com/companies/chevron/. Retrieved June 6, 2011.
  5. ↑ "Leading the Way". chevron.com. http://www.chevron.com/about/leadership/history/1876/. Retrieved 2010-12-18.
  6. ↑ Baker, David R. (2005-05-10). "Chevron drops the Texaco from its name". San Francisco Chronicle. http://articles.sfgate.com/2005-05-10/business/17371722_1_chevron-and-texaco-san-ramon-s-chevron-oil-industry. Retrieved 2 May 2011.
  7. ↑ "Standard Oil Company of California history". Google. http://www.google.com/search?q=Standard+Oil+Company+history&sourceid=ie7&rls=com.microsoft:en-us:IE-SearchBox&ie=&oe=#q=Standard+Oil+Company+of+california+history&hl=en&rls=com.microsoft:en-us:IE-SearchBox&prmd=ivns&tbs=tl:1&tbo=u&ei=bFB-TfWVAsW_0QHBpMjYAw&sa=X&oi=timeline_result&ct=title&resnum=11&ved=0CHoQ5wIwCg&bav=on.2,or.r_gc.r_pw.&fp=1&cad=b. Retrieved 2 May 2011.
  8. ↑ "The King of Giant Fields". GEO ExPro. http://www.geoexpro.com/hydrocarbo/ghawar. Retrieved 2 May 2011.
  9. ↑ "Company Profile". chevron.com. http://www.chevron.com/about/leadership/. Retrieved 2010-05-05.
  10. ↑ "NGC and Chevron Reach Accord on Gas". New York Times. 1996-05-24. http://www.nytimes.com/1996/05/24/business/ngc-and-chevron-reach-accord-on-gas.html. Retrieved 2 May 2011.
  11. ↑ "Chevron to raise $940 million through sale of Dynegy stake". Business Journals. 2007-05-22. http://www.bizjournals.com/eastbay/stories/2007/05/21/daily13.html. Retrieved 2 May 2011.
  12. ↑ CHEVRON CORP. APPLAUDS DYNEGY-ILLINOVA MERGER, Chevron Press Release Archives, February 2, 2000
  13. ↑ "Chevron's Profit Rises 24%, With Help From Its Refineries". Reuters. 2007-07-28. http://query.nytimes.com/gst/fullpage.html?res=9801E4D61430F93BA15754C0A9619C8B63. Retrieved 2 May 2011.
  14. ↑ "Chevron Sells Dynegy Stake". The Street.com. http://www.thestreet.com/story/10358125/chevron-sells-dynegy-stake.html. Retrieved 2 May 2011.
  15. ↑ "Oil giant Chevron buys rival Texaco". BBC News. 2000-10-16. http://news.bbc.co.uk/2/hi/business/973161.stm. Retrieved 2 May 2011.
  16. ↑ "Chevron to Acquire Texaco". The Street.com. http://www.thestreet.com/story/1126226/update-chevron-to-acquire-texaco.html. Retrieved 2 May 2011.
  17. ↑ Raine, George (2001-10-10). "THE CHEVRON - TEXACO MERGER / An oil giant emergers / Shareholders approval of Chevron-Texaco deal creates industy's lates behemoth.". San Francisco Chronicle. http://articles.sfgate.com/2001-10-10/business/17620887_1_saudi-refining-kenneth-derr-dave-o-reilly. Retrieved 2 May 2011.
  18. ↑ Baker, David R. (2005-04-05). "Chevron plans to buy Unocal for $18.4 billion / Deal would bolster East Bay oil giant's strategically located sources of gas, crude". San Francisco Chronicle. http://articles.sfgate.com/2005-04-05/news/17368730_1_dave-o-reilly-chevrontexaco-gas-reserves-natural-gas. Retrieved 2 May 2011.
  19. ↑ Blum, Justin (2005-08-11). "Shareholders Vote in Favor Of Unocal Acquisition". Washington Post. http://www.washingtonpost.com/wp-dyn/content/article/2005/08/10/AR2005081000986.html. Retrieved 2 May 2011.
  20. ↑ "Eastern Withdrawal for Chevron | CSP Daily News / Magazine | Petroleum - CSP Information Group, Inc. - news for convenience & petroleum retailing". Cspnet.com. 2009-12-07. http://www.cspnet.com/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications::Article&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=807613D32D8C4FC3B85631A0224C0EC5&AudID=CBA745B91AFB44FA923476ACBBD040A5. Retrieved 2011-02-16.
  21. ↑ Kaplan, Thomas (2010-11-09). "Chevron to Buy Atlas Energy for $4.3 Billion". New York Times. http://dealbook.nytimes.com/2010/11/09/chevron-to-buy-atlas-energy-for-3-billion/. Retrieved 2 May 2011.
  22. ↑ "Chevron completes $4.3B purchase of Atlas Energy.". Bloomberg News. http://www.bloomberg.com/news/2011-02-18/chevron-completes-4-3b-purchase-of-atlas-energy-.html. Retrieved 2 May 2011.
  23. ↑ "Chevron leaving San Francisco". September 5, 2001. http://www.bizjournals.com/sanjose/stories/2001/09/03/daily27.html.
  24. ↑ [1][dead link]
  25. ↑ Robert V. Droz. "Standard Oil Today". Us-highways.com. http://www.us-highways.com/sohist1999.htm. Retrieved 2011-02-16.
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  28. ↑ PowerPedia:Lithium Ion Batteries PowerPedia:Lithium Ion Batteries
  29. ↑ "Business | Chevron claims energy debate". BBC News. 2006-02-19. http://news.bbc.co.uk/2/hi/business/4716334.stm. Retrieved 2011-02-16.
  30. ↑ Reuters. http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=PR&symbol=CVX.N&storyID=171064+31-May-2006+PRN.
  31. ↑ "NREL: Chevron and NREL to Collaborate on Research to Produce Transportation Fuels using Algae". Nrel.gov. 2009-04-13. http://www.nrel.gov/news/press/2007/535.html. Retrieved 2011-02-16.
  32. ↑ "Governor Richardson, Chevron Break Ground on Emerging Solar Technology Demonstration Project in Questa, New Mexico". Chevron. 2010-05-13. http://www.chevron.com/news/currentissues/newmexicosolar/. Retrieved 2011-06-29.
  33. ↑ Script error
  34. ↑ [2][dead link]
  35. ↑ Script error
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  37. ↑ Font size Print E-mail Share 130 Comments Page 2 of 4 (2009-05-03). "60 Minutes "Amazon Crude", May 3, 2009". Cbsnews.com. http://www.cbsnews.com/stories/2009/05/01/60minutes/main4983549_page2.shtml. Retrieved 2011-02-16.
  38. ↑ Chevron annual meeting heats up over Ecuador suit[dead link]
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  40. ↑ 40.0 40.1 40.2 40.3 "Chevron fined for Amazon pollution by Ecuador court". BBC News (BBC). 15 February 2011. http://www.bbc.co.uk/news/world-latin-america-12460333. Retrieved 15 February 2011.
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  42. ↑ "Texaco faces $1bn lawsuit". BBC News (BBC). 22 October 2003. http://news.bbc.co.uk/2/hi/americas/3212698.stm. Retrieved 22 October 2003.
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  44. ↑ "Environmental Justice Case Study: Richmond, CA". Umich.edu. 1994-06-02. http://www.umich.edu/~snre492/sherman.html. Retrieved 2011-02-16.
  45. ↑ "CHEVRON RICHMOND REFINERY TO PAY $540,000 ENVIRONMENTAL PENALTY | Newsroom | US EPA". Yosemite.epa.gov. 1998-10-15. http://yosemite.epa.gov/opa/admpress.nsf/34cef4854b892b8b8525645a004de9a4/fb476240c30ba96b852570d8005e12e0!OpenDocument. Retrieved 2011-02-16.
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  59. ↑ ECD Ovonics Amended General Statement of Beneficial Ownership of December 2, 2004
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