Chevron Corporation

Chevron Corporation 

 

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Hello there! Let me intorduce myself. My name is Mikhail, and, as you know, I am a second year full-time student of Institute of oil and gas. Today I am going to represent you the Chevron Company.

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Chevron Corporation (NYSE: CVX) is an American multinational energy corporation. One of the successor (преемник) companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged (занимается) 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.

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Chevron is one of the world's largest oil companies; as of 2013, it ranked third in the Fortune Global 500-2014 list of the world's largest companies.

 

Upstream (slide 4)

 

Chevron's oil and gas exploration and production operations are primarily in the US, Australia, Nigeria, Angola, Kazakhstan, and the Gulf of Mexico (Мекс. залив).

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As of December 31, 2010, the company had 10.545 billion barrels (1.6765 billion cubic metres) of oil-equivalent net proved reserves. Daily production in 2010 was 2.763 million barrels per day.

Chevron's largest single resource project is the $43 billion Gorgon Gas Project in Australia.

In the onshore and near-offshore regions of the Niger Delta, Chevron operates under a joint venture with the Nigerian National Petroleum Corporation, operating and holding a 40% interest in 13 concessions in the region. In addition, Chevron operates the Escravos Gas Plant and the Escravos gas-to-liquids plant.

 

Downstream (slide 6)

 

Chevron's downstream operations manufacture and sell products such as fuels, lubricants, additives and petrochemicals. The company's most significant areas of operations are the west coast of North America, the U.S. Gulf Coast, Southeast Asia, South Korea, Australia and South Africa.

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In 2010, Chevron sold in average 3.1 million barrels per day (490×103 m3/d)of refined products like gasoline, diesel and jet fuel.

The company operates approximately 19,550 retail sites in 84 countries.

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Additionally, Chevron owns the trademark rights to Texaco and Caltex fuel and lubricant products.

 

History (slide 9)

 

Chevron has got rich history.

One of Chevron's early predecessors, Star Oil, discovered oil at the Pico Canyon north of Los Angeles in 1876. In September 1879, Charles N. Felton, Lloyd Tevis, George Loomis and others created the Pacific Coast Oil Company. Pacific Coast operated independently and retained its name until 1906, when it was merged with a Standard Oil subsidiary and it became Standard Oil Company (California) or California Standard.

Another predecessor, Texas Fuel Company, was founded in Beaumont, Texas in 1901. Texas Fuel worked closely with Chevron. In 1936 it formed a joint venture called Caltex with Chevron to drill and produce oil in Saudi Arabia.

In 1911, Standard Oil Co. (California) was severed from its parent corporation, Standard Oil.

In 1926, the company changed its name to Standard Oil Co. of California (SOCAL).

In 1933, Saudi Arabia granted SoCal a concession to find oil, which led to the discovery of oil in 1938. In 1948, SoCal discovered the world's largest oil field (Ghawar) in Saudi Arabia.

SoCal's subsidiary (филиал), California-Arabian Standard Oil Company, grew over the years and became the Arabian American Oil Company (ARAMCO) in 1944.

Only in 2013 SoCal took the opportunity to change its legal name to Chevron Corporation, since it had already been using the well-known "Chevron" retail brand name for decades.

On October 15, 2000, Chevron announced acquisition of Texaco in a deal valued at $45 billion, 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.

 

Strategies (slide 10)

 

Upstream
Grow profitably in core areas and build new legacy positions

Downstream and Chemicals
Deliver competitive returns and grow earnings across the value chain

Gas and Midstream
Apply commercial and functional excellence to enable the success of Upstream and Downstream & Chemicals

Technology
Differentiate performance through technology

Renewable Energy and Energy Efficiency
Invest in profitable renewable energy and energy efficiency solutions

 

 

Key People (slide 11)

 

Chairman of the Board and Chief Executive Officer (Председатель совета директоров и главный исполнительный директор)

 

Global scope (slide 12)

 

Global workforce consists of approximately 64,500 employees, including more than 3,200 service station employees.

In 2013, Chevron’s average net production was nearly 2.6 million oil-equivalent barrels per day. About 75 percent of that production occurred outside the United States. Chevron had a global refining capacity of 1.96 million barrels of oil per day at the end of 2013.

Chevron's marketing network supports retail outlets on five continents.

 

Thank you! Now, I am ready to answer a few questions.