Chevron Corporation (Chevron), one of the largest leading integrated energy companies in the world, is engaged in every aspect of the energy industry. Chevron produces, explores, and transports crude oil and natural gas as well as refines, markets, and distributes transportation fuels and lubricants. Chevron also manufactures and sells petrochemical products, generates power and produces geothermal energy, provides renewable energy and energy efficiency solutions, and develops the energy resources of the future, including research into advanced biofuels.
An 1879 oil discovery at Pico Canyon, north of Los Angeles, traces the beginnings of Chevron. That discovery led to the formation of the Pacific Coast Oil Co, which later became Standard Oil Co. of California and, subsequently, Chevron. The company acquired Gulf Oil Corporation in 1984, and took on the name Chevron, which nearly doubled their worldwide proved crude oil and natural gas reserves. Their fusion with Gulf was then the largest in U.S. history.
Another major branch of the family tree is The Texas Fuel Company, formed in Beaumont, Texas, in 1901. It later became known as The Texas Company and eventually, Texaco. In 2001, their two companies merged. Also in 2005, Chevron purchased an additional company named Unocal. The acquisition of Unocal Corporation in 2005 strengthened Chevron's position as an energy industry leader, increasing their crude oil and natural gas assets around the world.
In 2012, Chevron's average net production was 2.61 million barrels of oil-equivalent per day. About seventy-five percent of that production occurred outside the United States. Chevron had a global refining capacity of 1.95 million barrels of oil per day at the end of 2012. Its marketing network supports retail outlets on six continents, and it has invested in 11 power-generating facilities in the United States and Asia (“Company Profile”).
Chevron is committed to the practice of ethical behavior