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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.
Texaco was an independent company until its refining operations merged into Chevron in 2001, at which time most of its station franchises were divested to Shell plc through its American division. Texaco began as the "Texas Fuel Company", founded in 1902 [ 6 ] in Beaumont, Texas , by Joseph S. Cullinan , Thomas J. Donoghue, and Arnold Schlaet ...
Gulf Oil Corporation (GOC) ceased to exist as an independent company in 1985, when it merged with Standard Oil of California (SOCAL), with both rebranding as Chevron in the United States. Gulf Canada , Gulf's main Canadian subsidiary, was sold the same year with retail outlets to Ultramar and Petro-Canada and what became Gulf Canada Resources ...
The Union Oil Company of California (later known as Unocal) introduced the Union 76 brand to their existing Union Oil service stations in 1932. [3] After expanding along the West Coast, the Union 76 brand expanded to the Midwest and Southeast through the acquisition of Pure Oil in 1965.
Chevron's normalized earnings per share grew by an average of 12.7% a year from 2001 until today. But that alone doesn't explain why Chevron's shares treated shareholders so well.
Wirth's company, Chevron, is responsible for one of the highest total carbon sequestration of any private company worldwide. Despite these practices, Wirth's company has been involved in several greenwashing tactics, and was found by a Federal Trade Commission to be misleading its customers on its efforts to reduce greenhouse gas emissions. [9]
Simultaneously, CalSo rebranded as Chevron Corporation, a trade name that had previously been in use by CalSo. Chevron made another acquisition in 2001, this time acquiring Texaco, and temporarily renaming itself to ChevronTexaco Corp. between 2001 and 2005. By this point, Chevron had become the second largest oil company in the United States.
Kenneth Tindall Derr (August 4, 1936 – July 12, 2024) was an American businessman who was a member of the board of directors of the Halliburton Company.A chairman of the board at Chevron Corporation, he served as the oil company's Chairman and CEO from January 1, 1989 to December 31, 1999, when he was succeeded by David J. O'Reilly.