The LeadersIn Maritime Law

Chevron

Address:
6001 Bollinger Canyon Road
San Ramon, CA 94583
Phone: (888) 346-5024

Chevron is the second largest energy company in the U.S., out-ranked only by ExxonMobil. The company conducts business worldwide in every aspect of the crude oil and natural gas industry, including exploration and production, manufacturing, marketing, transportation, chemicals manufacturing and sales, geothermal energy, and power generation. Chevron’s upstream operations consist of exploring for, developing, and producing crude oil and natural gas. Downstream operations include refining of crude oil, marketing, and transportation of petroleum products.

As a wholly-owned subsidiary company, Chevron Shipping Company is completely responsible for Chevron Corporation's maritime transport operations. Their fleet includes many vessels, including crude oil and product tankers, gas tankers, and more; it is divided into the U.S. and International Fleets. The U.S. fleet is responsible for transporting oil products from Chevron's domestic refineries to different customers within the nation; it is manned by citizens of the United States and is flagged. The U.S. Fleet maintains an office in Houston, Texas.

Chevron is listed on the New York Stock Exchange under the symbol “CVX”. The company reported 2009 revenues of $167 billion, with a net income of $10.5 billion. Chevron employs approximately 67,000 people worldwide; 27,000 of these employees are based in the United States. The six-month deepwater drilling moratorium limits Chevron’s production capacity in the Gulf of Mexico since it can no longer operate oil rigs at depths of more than 500 feet. Shares of Chevron stock fell nearly 10% in price after the BP disaster. Chevron is one of the top leaseholders and producers in the Gulf of Mexico and is widely recognized as a leader in deepwater drilling. The company holds the current world record for drilling water-depth at 10,011 feet.

Chevron, along with ExxonMobil, Shell, and ConocoPhillips, has prepared for deepwater oil spills up to 10,000 feet underwater in response to the Deepwater Horizon oil spill. These companies will form a non-profit organization, the Marine Well Containment Company, which will operate the response system that will be used for any spills. All four companies rely heavily on offshore drilling, and Shell and Chevron have significant operations in the Gulf of Mexico. Work on this new containment system is being accelerated to enhance deepwater safety and environmental protection in the Gulf of Mexico, which accounts for 30% of U.S. oil and gas production and supports more than 170,000 American jobs.

Chevron competes with other major petroleum producers, including:

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