Chevron Corp. ranks among the world's largest and most competitive global energy companies. Headquartered in San Ramon, CA and active in more than 180 countries, it is engaged in every aspect of the oil and gas industry, including exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; and power generation in the U.S. and Asia.
The company sells its petroleum products under three well-known brands - Chevron, Texaco and Caltex. The Chevron brand is used primarily in North America; the Texaco brand primarily in Latin America, Europe and western Africa as well as North America; and the Caltex brand primarily in eastern Africa, Asia, the Middle East, Australia and New Zealand.
Approximately 8,000 Chevron and Texaco retail stations serve customers in the United States, Canada and countries in the Caribbean, Central America and Andean region.
Chevron's five U.S. refineries have the capacity to process 955,000 barrels of oil per day.
The company's major operations in the United States are in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming.
Chevron is also a leading supplier of jet fuel and aviation gasoline to commercial airlines, general aviation and military customers. In the United States, Chevron is the number one commercial aviation fuel provider, with operations in more than 400 airports across the country.
In 2014, Chevron reported revenues of $211.9 billion, down from $228.8 billion a year ago. Net income was $19.2 billion.
The company added 840 million barrels of net oil-equivalent reserves in 2014. Net oil production was 2.58 million barrels per day at the end of 2014, unchanged from 2013.
"Our 2014 earnings were down from the previous year, largely due to the sharp decline in crude oil prices," said Chairman and CEO John Watson. "Improved downstream results and higher gains on asset sales related to our divestment program partially offset the effect of lower crude prices."
"In 2014, we continued to fund investments in key major capital projects under construction and raised the dividend payout on our common shares for the 27 th consecutive year," Watson added. "We enter 2015 with the financial strength to meet the challenges of a volatile crude price environment and with significant efforts underway to manage to a lower cost structure and capital spend rate."
Chevron announced a capital and exploratory budget of $35.0 billion for 2015, down 14% due to declining oil prices.
The company traces its earliest roots to an 1879 oil discovery at Pico Canyon, north of Los Angeles, a find that led to the formation of the Pacific Coast Oil Co., which later evolved into the Standard Oil Co. of California and, later, Chevron Corp. Another major root in the genealogical chart is the 1901 formation of The Texas Fuel Co. in Beaumont, Texas. It later became known as The Texas Co. and, eventually, Texaco Inc. In 2001, these entities merged to form ChevronTexaco. The name was changed to Chevron in 2005 to present a more unified presence in the global marketplace.
Chevron acquired the Unocal Corporation in 2005, an independent gas and oil exploration firm, in a deal valued at $18 billion. The deal added 1.5 billion barrels of oil reserves.
Chevron was added to the Dow Jones Industrial Average Index in February 2008.
In November 2010, Chevron agreed to acquire natural-gas producer Atlas Energy for $4.3 billion.
- Pay - Chevron pays salaries that are competitive with other major energy companies.
- Success sharing - When the company and your operating unit succeed in meeting predetermined goals, such as Total Shareholder Return (TSR) and safety, you're rewarded with extra cash, up to 10 percent of your base pay.
- Retirement Plan - This plan provides a defined benefit that, if you're eligible, you can receive after your employment ends.
- 401(k) - The Employee Savings Investment Plan provides a convenient way to save for retirement. You contribute before-tax or after-tax dollars to your account and can choose from a variety of investment options. As long as you contribute 2 percent of your pay, you receive an 8 percent-of-pay match to your account.
- Recognition and Awards (R&A) Program - Employees receive recognition for outstanding achievements, including cash and noncash awards ranging in value from $25 to $15,000.
- Health and fitness - Take advantage of fitness centers at our major locations (some of which are open to families) and a variety of health-oriented programs.
- Medical plans - Medical plans are offered in all locations. Chevron shares the cost of the coverage. All plans cover preventive care, such as routine physical exams, well-child care and immunizations, and provide coverage for prescription drugs.
- Dental Plans - Our dental plans cover preventive, basic and major dental care.
- Domestic partner benefits - Same-sex or opposite-sex domestic partners are eligible for benefits, including medical, dental, life and accident insurance and relocation assistance.
- Mental Health/Substance Abuse Plan - This plan gives you access to counselors and treatment facilities if you or your family members have mental health issues or experience substance abuse problems. The company pays the entire cost of coverage and you are automatically enrolled.
- Employee Assistance and WorkLife Services - This resource provides help and counseling to resolve workplace issues and challenges in your personal life. You can also access local programs and resources, such as tools that screen for depression or alcoholism.
- Flexible Spending Account Plan - This plan allows you to set aside before-tax dollars to pay for health care or dependent care expenses.
- Insurance - Basic Life Insurance and accident insurance are offered at no cost. Plus, if you're eligible, you may purchase a variety of additional insurance including additional life insurance for you and your family, additional accident insurance, long-term care insurance and Group Auto and Home Insurance.
- Disability benefits - You'll have both short-term and long-term disability benefits in case you're injured and are unable to work for an extended period of time.
- Vacation - You'll have up to six weeks of paid vacation each year, depending on how long you've been with the company.
- Holidays - Ten paid holidays are scheduled each year and vary based on location and local custom.
- Flexible work schedules - These schedules were designed to help employees balance the demands at work with demands in their personal lives.
- Flex time allows you to vary your start and end time as long as you work core business hours.
- Job sharing allows two employees to share responsibilities of one full-time job.
- A compressed workweek schedule lets you work 40 hours in fewer than five workdays each week. For example, you could work 80 hours in nine days and have a day off every other week.
Updated January 30, 2015