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During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant's success in Colorado as the largest oil and gas producer in the state.
At the end of 2023, Chevron employed 40,212 people across its operations. A layoff of 20% of total employees would be about 8,000 people. Shares of Chevron declined 0.7% in afternoon trading.
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas.The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is active in more than 180 countries.
It was the first in the Western United States to produce synthetic gasoline by combining purified hydrogen gas with an unsaturated gas by-product from gasoline cracking operations. With the onset of World War II the refinery saw major changes. Many employees left for service in the U.S. military and close to 400 women joined the refinery workforce.
This list is partially sourced from the S&P Global Commodity Insights Top 250 Global Energy Company Rankings for 2022. The S&P Global list is restricted to publicly traded companies, and only integrated oil and gas, oil and gas exploration and production, oil and gas refining and marketing, and oil and gas storage and transportation companies ...
At the same time, the number of U.S. drilling rigs has plunged to 586 from more than 1,900 in 2014. While the rate of growth is expected to slow, more oil will keep gushing out.
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For example, when he visits Chevron employees around the world, they serve as his hosts, show him their operations, and take him to meet customers. Afterward, he writes a letter to them—the ...