Chevron Company was established on June 19, 1879. Pacific Coast Oil Company was its original name. On June 23, 1984, the name was changed to Chevron Corporation. It is still known by the same name (Corporation, 2001; Dutta, 2013). It is a publicly traded firm headquartered in San Ramon, California, in the United States. They produce petroleum, natural gas, and other petrochemicals as an oil and gas firm. It employs a sizable number of individuals; in 2016, the company had 61,500 employees, with a sizable proportion of these working in the United States.
Chevron Corporation is involved in all aspects of natural gas, oil, and geothermal energy. The corporation was ranked 4th in 2014 on the Fortune 500 list of top U.S. corporations and 16th worldwide on the Fortune Global 500. The organizations alternative energy production operations include: solar, fuel cells, bio fuel and hydrogen (Corporation, 2001). The company earns a large amount of revenue, usually in its billions (Dutta, 2013). In the 2011 financial year, they reported to have earned US$26.9 billion this did not include the US$257.3 billion annual revenue. This was an increase of 23.3% from the revenue generated in the previous year.
Chevron has a number of subsidiaries. They include:
Texaco Inc.
Tengizchevroil
Chevron U.S.A. Inc.
Chevron Australia Pty. Ltd.
Cabinda Gulf Oil Co Ltd.
Chevron Pipe Line Company
Chevron Thailand Exploration
Chevron United Kingdom Ltd.
Chevron Geothermal Indonesia Ltd.
Chevron North America Exploration
Chevron Nigeria Ltd.
Statistics Korea
Chevron Global Energy Inc.
Chevron Overseas Petroleum Inc.,
among others.
The Chevron Corporation is an important part of the United Kingdom’s energy market. The corporation produces about 40,000 barrels of crude oil and 115 million cubic feet of natural gas daily (Corporation, 2001). The organization also has interests in several pipelines. They include the Shetland Island Regional Gas Export System pipeline, the Graben Area Export Line pipeline and the Sullom Voe Terminal. The Chevron London office, alongside Houston, Texas; San Ramon, California; and Singapore is one of the organizations trading floors (Dutta, 2013).
The board has 11 members including the CEO. Some of the board members include; Alice Gast, Robert Denham, Dambisa Moyo and Inge Thulin just to mention a few. The company has 297 executives (Corporation, 2001). The Corporation management consists of the CEO and chairman, and the two vice chairpersons, who create the Office of the Chairman, which oversees the organizations operations. The three corporate Executive Vice Presidents who report to the Office of the Chairman are in charge of the following:
global downstream business;
power, chemicals and technology;
administrative and corporate services.
Other key corporate positions include:
Finance
Human Resources
Strategic Planning
Health, Environment and Safety
Law
Public Affairs.
The upstream companies that report to one of the two vice chairpersons are in charge of sustaining long-term competition, improvement of profit generation and efficient management of the organization’s resources:
Overseas petroleum; the headquarters are be in San Ramon, California. The exploration and production activities of Texaco, the largest subsidiary, are managed from these headquarters. This includes even the activities outside North America, in the 30 plus countries that the organization is established (Corporation, 2001).
The overseas petroleum has another 10 business units headed by a managing director and a general manager for in charge of the exploration (Dutta, 2013). They are:
Australasia;
China;
Europe;
Indonesia;
Latin America;
Middle East/North Africa;
Nigeria/Mid-Africa;
Southern Africa;
Thailand;
North America Upstream.
The headquarters for all activities in North America will be in Houston, Texas. The operation units they contain are:
San Joaquin Valley;
Gulf of Mexico Shelf;
Permian;
Gulf of Mexico Deep Water;
Mid Continent;
Canada;
Alaska.
The worldwide downstream organization reporting to the other vice chairperson is divided to four operating organizations for large scale refining and a president heads both the refining and marketing operations. The organizations (North America, Asia, Middle East, Africa, Europe, West Africa and Latin America) have the required competence to operate and dominate in their respective geographical locations (Dutta, 2013). The downstream still operates a few global businesses. The divisions are usually geographical. The different branches share services at a low price.
Downstream operate a number of global business ventures and integrate the worldwide productions of Chevron, Texaco and Caltex (Corporation, 2001). This makes sure that they will build on an already established and thriving brand. Some of these businesses include:
Lubricants;
Trading;
Shipping;
Fuel and Marine Marketing.
All these departments and branches were divided between Chevron and Texaco after their merger in 2001.
Conclusion
The Chevron Corporation is obviously a huge contributor to the economies of their regions of operations (Dutta, 2013). They offer employment to a significant number of people, majority being from the U.S. They also try to improve the situations in the same areas (Corporation, 2001). Even though the corporation mainly deals oil products, they are also involved with other things in the regions they are set-up. A good example is their involvement in education in the United Kingdom: they are in a partnership with the University of Aberdeen. Therefore, the Chevron Corporation is an example of responsible management executing, efficient strategy forming and implementation of new technologies for profitable and stable growth.
References
Corporation, C. (2001). Chevron and Texaco Announce Leadership Team and Organization Structure. Retrieved on April 14, 2017 from http://www.chevron.com/stories/chevron-and-texaco-announce-leadership-team-and-organization-structure
Dutta, S. (2013). Top 10 Oil & Gas Companies: Chevron Corporatiion. Retrieved on April 14, 2017 from http://www.oilandgasiq.com/strategy-management-and-information/articles/top-10-oil-gas-companies-number-9-chevron-corporat/
