Chevron Case Study
Case Study: Chevron Corporation (CVX)
History
The multinational Chevron Corporation dates back to its early beginnings in 1870 as Pacific Coast Oil Company. Following subsequent mergers, they eventually emerged as Standard Oil Company in 1911 after a forced divestiture into 34 independent companies by the U.S. Supreme Court under the Sherman Antitrust Act. It would later become Standard Oil Company of California (SoCal) after acquiring Pacific Oil Company in 1926. 10 years later, the SoCal joined forces with The Texas Company (a predecessor to Texaco) and formed Caltex Group of Companies, in order to manage interests of both entities in Middle East and Indonesia with an outlet through Texas Company's establish European market. With strategic mergers with companies such as Signal Oil and Standard Oil Kentucky, they were able to obtain 2,000 retail stations and gained outlets and market share in the southeast. In 1984, they assumed the name Chevron Corporation after they acquired Gulf Corporation in what was the largest merger in history at the time. This merger doubled their oil and gas activities, as well as solidifying their presence industry. In a joint venture with the Republic of Kazakhstan, they were able to develop a giant oil reserve named Tengiz Field in 1993. Soon after acquired Rutherford-Moran Oil Corporation, as an inroad into the Asian natural gas market. They became the second largest U.S. based oil company under the name of ChevronTexaco Corporation when they merged with Texaco in 2001. In 2005 they boosted their Asia-Pacific and Caspian regions by acquiring Unocal Corporation. Under the name of Chevron Corporation, they increased branding efforts by unifying their presence in the global market under the name. Their most recent acquisition, Atlas Energy, Inc. provided a sharp increase in high quality acreage for future reserves.
Company Profile
Currently, Chevron Corporation is the second largest energy
History
The multinational Chevron Corporation dates back to its early beginnings in 1870 as Pacific Coast Oil Company. Following subsequent mergers, they eventually emerged as Standard Oil Company in 1911 after a forced divestiture into 34 independent companies by the U.S. Supreme Court under the Sherman Antitrust Act. It would later become Standard Oil Company of California (SoCal) after acquiring Pacific Oil Company in 1926. 10 years later, the SoCal joined forces with The Texas Company (a predecessor to Texaco) and formed Caltex Group of Companies, in order to manage interests of both entities in Middle East and Indonesia with an outlet through Texas Company's establish European market. With strategic mergers with companies such as Signal Oil and Standard Oil Kentucky, they were able to obtain 2,000 retail stations and gained outlets and market share in the southeast. In 1984, they assumed the name Chevron Corporation after they acquired Gulf Corporation in what was the largest merger in history at the time. This merger doubled their oil and gas activities, as well as solidifying their presence industry. In a joint venture with the Republic of Kazakhstan, they were able to develop a giant oil reserve named Tengiz Field in 1993. Soon after acquired Rutherford-Moran Oil Corporation, as an inroad into the Asian natural gas market. They became the second largest U.S. based oil company under the name of ChevronTexaco Corporation when they merged with Texaco in 2001. In 2005 they boosted their Asia-Pacific and Caspian regions by acquiring Unocal Corporation. Under the name of Chevron Corporation, they increased branding efforts by unifying their presence in the global market under the name. Their most recent acquisition, Atlas Energy, Inc. provided a sharp increase in high quality acreage for future reserves.
Company Profile
Currently, Chevron Corporation is the second largest energy
References: * Brasileiro, Adriana and Millard, Peter. “Chevron executive charged in Brazil oil spill”. San Francisco Chronicle. Thursday, March 22, 2012 * Egelko, Bob. S.F. “Jury clears Chevron of protest shootings.” San Francisco Chronicle. Tuesday, December 2, 2008. * Chevron.com * Chevron Corporation. “2010 Annual Report.” * “Chevron Corporation.” Datamonitor. August 18 2011. * “Chevron fined for Amazon pollution by Ecuador Court.” BBC News Online. February 15, 2011. * “Consent decree: United States of America v Chevron.” EPA.gov. June 5 7, 2005. * Hoovers Company Profiles. “Company Profile: Chevron Corporation.” * “United States Petrochemicals: Competitive Landscape United States Q2 2012.” Business Monitor International. March 27, 2012.