Chevron Corporation Stock Price Today (CVX)
2023.02.24 13:35
American multinational energy company Chevron Corporation focuses primarily on oil and gas. It is the second-largest direct descendant of Standard Oil. Originally known as the Standard Oil Company of California (also known as Socal or CalSo), it has a headquarters in San Ramon, California, and it operates in more than 180 countries.
Chevron is vertically integrated in the oil and gas industry and is involved in the exploration, production, refining, marketing, and transportation of hydrocarbons. It also makes and sells chemicals and generates electricity.
Chevron has been around since the 1870s. Following the dissolution of Standard Oil, the business expanded rapidly through acquisitions and partnerships, eventually becoming one of the Seven Sisters that ruled the global petroleum industry from the middle of the 1940s until the 1970s. Chevron was created when Socal merged with Gulf Oil, a company based in Pittsburgh, in 1985; In 2001, the newly combined business merged with Texaco.
Today, Chevron primarily operates in Western North America, the Gulf Coast of the United States, Southeast Asia, South Korea, and Australia, where it manufactures and sells fuels, lubricants, additives, and petrochemicals. The business produced an average of 791,000 net oil-equivalent barrels per day in the United States in 2018.
Chevron is one of the largest businesses in the world and the second-largest oil company based in the United States in terms of revenue, after ExxonMobil, which is a descendant of Standard Oil. With revenues of US$162.5 billion in 2022, Chevron ranked 16th on the Fortune 500 and 37th on the Fortune Global 500. Since ExxonMobil left the Dow Jones Industrial Average in 2020, the business is also the last oil and gas component.
