Chevron Corporation

What does Chevron own?
Chevron owns an integrated portfolio of energy assets including oil and gas exploration and production facilities, refineries, retail fuel stations, and petrochemical manufacturing operations through Chevron Phillips Chemical Company. The company's major brands include Chevron, Texaco, Caltex, Havoline, Delo, and Extra Mile. Following the July 2025 acquisition of Hess Corporation, Chevron also owns a 30% stake in the Stabroek Block off Guyana with more than 11 billion barrels of recoverable oil.

Is Chevron publicly traded?
Yes, Chevron is publicly traded on the New York Stock Exchange under the ticker symbol CVX. The company has been publicly traded since the early 20th century and is one of the largest energy companies by market capitalization in the United States. It is a component of the Dow Jones Industrial Average.

Who founded Chevron?
Chevron traces its origins to the Pacific Coast Oil Company, founded in 1879 in San Francisco by California entrepreneurs. The company became part of Standard Oil in 1900 and operated as Standard Oil of California until the Standard Oil breakup in 1911. The Chevron name was adopted in 1984 following the acquisition of Gulf Oil.

Where is Chevron headquartered?
Chevron is headquartered in Houston, Texas, USA. The company relocated its headquarters from San Ramon, California, to Houston in 2024, with the move effective January 1, 2025. Chevron had approximately 7,000 employees in the Houston area at the time of the announcement. Positions supporting California operations remain in San Ramon.

How many brands does Chevron own?
Chevron owns 6 major brands across its energy portfolio: Chevron (premium fuel), Texaco (fuel brand), Caltex (international fuel brand), Havoline (motor lubricants), Delo (heavy-duty lubricants), and Extra Mile (convenience stores).

Who owns Chevron?
Chevron is publicly owned with no controlling shareholder. Ownership is broadly distributed among institutional investors, mutual funds, and individual shareholders. Major institutional shareholders include Vanguard Group, BlackRock, and State Street Global Advisors, typical of large-cap U.S. corporations.

What is Chevron's revenue?
For FY2025, Chevron reported total revenues and other income of $189.0 billion, down from $202.8 billion in FY2024. Net income attributable to Chevron was $12.3 billion, or $6.63 per diluted share. The decline reflected lower crude oil prices, partly offset by higher production from the Hess acquisition and record Permian Basin output.

Has Chevron made major acquisitions recently?
Yes. Chevron completed its acquisition of Hess Corporation on July 18, 2025, for approximately $53 billion in an all-stock transaction. The acquisition gives Chevron a 30% stake in the Stabroek Block off Guyana, with more than 11 billion barrels of recoverable oil. The deal faced an arbitration challenge from ExxonMobil and CNOOC, which the International Chamber of Commerce resolved in Chevron's favor.

Chevron traces its origins to 1879, when Pacific Coast Oil Company was founded in San Francisco by several California entrepreneurs. The company was acquired by Standard Oil in 1900 and operated as Standard Oil of California (Socal) until the breakup of Standard Oil in 1911, when it became an independent company. The distinctive Chevron logo was first used in the 1930s and became the company's official name in 1984.

The mid-20th century saw Chevron expand through exploration and acquisitions. The company discovered major oil fields in California, Texas, and the Gulf of Mexico, establishing it as a major domestic producer. In 1984, Chevron acquired Gulf Oil Corporation in a $13.3 billion deal, one of the largest mergers of its time, which significantly expanded its refining capacity and retail network.

The most transformative transaction before the Hess deal came in 2000, when Chevron merged with Texaco in a $45 billion deal, creating ChevronTexaco. The merger combined two major energy companies with complementary assets and global reach. The company reverted to the Chevron name in 2005 while maintaining the Texaco brand in certain markets, particularly in the United States and Latin America.

Throughout the 2000s and 2010s, Chevron expanded its international operations, particularly in Asia, Africa, and Latin America. The company made significant investments in deepwater exploration, shale gas development, and liquefied natural gas (LNG) projects. The Gorgon LNG project in Australia, one of the world's largest natural gas developments, began production in 2016. In Kazakhstan, Chevron holds a 50% interest in Tengizchevroil, which operates the Tengiz and Korolev fields.

Under CEO Mike Wirth, who took leadership in 2018, Chevron has focused on capital discipline, operational efficiency, and lower-carbon investments while maintaining its core oil and gas business. Wirth's strategy emphasized Permian Basin growth, shareholder returns through dividends and buybacks, and selective acquisitions.

On October 23, 2023, Chevron announced its agreement to acquire Hess Corporation for approximately $53 billion in an all-stock transaction. The deal's primary prize is Hess's 30% stake in the Stabroek Block off the coast of Guyana, one of the largest oil discoveries of the past decade, with more than 11 billion barrels of recoverable resources. The acquisition faced a significant legal challenge from ExxonMobil and CNOOC, Hess's partners in the Stabroek Block, who claimed a right of first refusal over Hess's Guyana assets. The International Chamber of Commerce in Paris ruled in Chevron's favor in July 2025, clearing the way for the deal to close. Chevron completed the acquisition on July 18, 2025. The FTC lifted its earlier restriction on July 17, 2025, allowing former Hess CEO John Hess to join Chevron's board of directors.

In August 2024, Chevron announced the relocation of its headquarters from San Ramon, California, to Houston, Texas. The move was effective January 1, 2025. Chevron had approximately 7,000 employees in the Houston area at the time of the announcement. The company expects all corporate functions to migrate to Houston over five years, with positions supporting California operations remaining in San Ramon.

For FY2025, Chevron increased its quarterly dividend by 4% to $1.78 per share and returned significant capital to shareholders through buybacks. Cash flow from operations was $33.9 billion for the year.

Chevron has set targets to reduce greenhouse gas emissions intensity from its upstream operations. The company aims to reduce upstream carbon intensity by approximately 5% by 2028 from 2016 levels and achieve net zero equity emissions from upstream operations by 2050. These targets cover Scope 1 and Scope 2 emissions from assets the company operates. Scope 3 targets, covering emissions from the use of Chevron's products, are less defined.

The company is investing approximately $10 billion through 2028 in lower-carbon initiatives, including renewable fuels, hydrogen, carbon capture and storage, and carbon offsets. Chevron aims to grow renewable fuels production capacity to 100,000 barrels per day by 2030. These investments are small relative to the company's annual capital expenditures of $18-20 billion on oil and gas projects.

Chevron publishes an annual Sustainability Report with performance data on emissions, water use, and safety metrics. The company has implemented programs to reduce methane emissions, minimize flaring, and improve water management. However, environmental groups have criticized Chevron's climate commitments as insufficient relative to the scale of its fossil fuel production.

The company is not a Certified B Corporation. Chevron operates in challenging geopolitical environments and maintains compliance programs covering anti-corruption, human rights, and community engagement. Its sustainability reporting is primarily self-reported, with some independently assured performance metrics.

Chevron ranked on the Fortune Most Admired Companies list in 2025, recognized in the energy sector for innovation, social responsibility, and global operational excellence. The company has also been recognized by Forbes and Newsweek as a top workplace, acknowledging employee satisfaction, diversity and inclusion initiatives, and leadership development programs.

The EPA has recognized Chevron as an ENERGY STAR Partner of the Year in multiple years for energy efficiency improvements in refining and retail operations. Industry associations have awarded Chevron for safety performance and operational excellence in refining and production.

These recognitions are based on independent rankings and industry data, not self-awarded claims.

The most significant ongoing controversy involves environmental claims related to historical operations in Ecuador. Chevron inherited the case through its 2000 acquisition of Texaco, which operated in Ecuador's Amazon region from 1964 to 1992. A court in Ecuador issued a $9.5 billion judgment against Chevron in 2011 for environmental contamination. Chevron has refused to pay, arguing that the judgment was obtained through fraud and that Texaco cleaned up its share of contamination before departing Ecuador. The company has successfully challenged enforcement attempts in U.S. courts and international arbitration, but the case remains a subject of public and legal attention.

Chevron faces ongoing scrutiny regarding its role as a major fossil fuel producer and its contributions to greenhouse gas emissions. Environmental groups, investors, and regulators have questioned the pace and adequacy of the company's energy transition commitments. In 2023, Chevron and other major oil companies were sued by several U.S. municipalities and states seeking damages for climate-related impacts. These cases are ongoing.

The company has faced regulatory actions related to air emissions violations, water contamination incidents, and operational safety issues at its refineries and production facilities. Chevron maintains comprehensive environmental compliance programs and works with regulators across multiple jurisdictions.

In 2024, Chevron's Richmond, California refinery experienced a series of incidents that drew regulatory scrutiny from the Contra Costa Health Department and the Bay Area Air Quality Management District. The company has invested in refinery safety upgrades following a major 2012 fire at the same facility.