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For more than a century, Chevron Corp. (CVX) was synonymous with California. Not only was America\u2019s second-largest oil and gas company founded there in 1876 \u2014 it was also headquartered there. <\/p>\n
In addition, Chevron employed thousands of workers, operated oil fields in the San Joaquin Valley, and maintained two refineries: The Richmond refinery in the San Francisco Bay area and the El Segundo refinery near Los Angeles.<\/p>\n
The California Energy Commission reported that these facilities were among the largest in the state, responsible for 30% of California\u2019s refined petroleum.<\/p>\n
Where did Chevron\u2019s headquarters used to be?<\/p>\n
From its founding \u2014 the company was first known as the Pacific Coast Oil Company and later as the Standard Oil Company of California \u2014 Chevron\u2019s headquarters were located in San Francisco on Market Street, in two granite skyscrapers known as the Standard Oil Towers.<\/p>\n
Related: Who owns Chevron? Understanding who controls one of the world\u2019s largest energy companies<\/p>\n
In 1999, the company relocated about 35 miles outside of the city to San Ramon, into a sprawling 92-acre campus known as Chevron Park.<\/p>\n
But in August 2024, Chevron announced that it would be moving its headquarters out of state in order to \u201cenable better collaboration and engagement with executives, employees, and business partners,\u201d it said in a press release.<\/p>\n
Why did Chevron move?<\/p>\n
Chevron CEO Mike Wirth told The Wall Street Journal that the state\u2019s energy policies were making it unsustainable for the company to remain in California. These policies \u201craise costs \u2026 hurt consumers \u2026 discourage investment, and ultimately we think that\u2019s not good for the economy in California and for consumers,\u201d he said.<\/p>\n
Due to environmental policies extended under California Governor Gavin Newsom, Chevron faced mounting litigation over climate regulations, including the “cap-and-invest” program, which limits greenhouse gas emissions from large polluters.<\/p>\n
Related: What does Chevron mean? A look inside its corporate logo<\/p>\n
Through this program, companies that produce carbon emissions must buy credits from the state for every ton of C02 they emit above the \u201ccap\u201d threshold.<\/p>\n
The Journal reported that due to regulatory challenges, Chevron wrote down as much as $4 billion in assets in the state in 2024. These policies also led to a 29% decline in the company\u2019s California oil and gas production between 2018 and 2024.<\/p>\n
So when the California Air Resources Board (CARB) introduced even more stringent \u201ccap-and-invest\u201d regulations in January 2026, Chevron execs did not mince words, saying that, if enacted, these new rules would not only affect the company but also the state.<\/p>\n
Andy Walz, Chevron’s President of Downstream, Midstream, and Chemicals Division, told KCRA News that the program could send gas prices soaring more than $1 per gallon by 2030. He added that they could also drive the company\u2019s refineries out of the state for good, saying, \u201cIt\u2019s not whether refineries will close, it\u2019s when.\u201d<\/p>\n
While Chevron\u2019s Richmond and El Segundo refineries currently remain operational, employing 1,200 and 1,100 workers, respectively, there’s been heated discussion as to their future on social media:<\/p>\n
Whereis Chevron\u2019s new headquarters?<\/p>\n
In 2024, Chevron moved its headquarters to Houston, Texas, a city widely considered the nucleus of the U.S. energy industry.<\/p>\n
As of Chevron\u2019s August 2024 announcement, roughly 7,000 employees out of Chevron’s 45,000 total workforce were based in the Houston area. CEO Wirth and other executive leaders relocated there at the end of 2024.<\/p>\n
Company histories:<\/p>\n
History of Microsoft: Company timeline & factsHistory of Coca-Cola: Timeline, facts & milestonesHistory of Nike: Company timeline and facts<\/p>\n
In addition to its C-suite, Chevron\u2019s corporate headquarters houses the company\u2019s finance, communications, and legal departments, as well as the senior management responsible for Chevron\u2019s global oil, gas, and renewable energy operations.<\/p>\n
Being in Houston allows Chevron\u2019s executives to operate closer to the technical expertise and infrastructure that power the global oil and gas industry, as well as to collaborate with other oil and gas companies.<\/p>\n
ExxonMobil (XOM) moved to Spring, Texas, in 2023, and Phillips 66 (PSX) relocated from Bartlesville, Oklahoma, to Houston in 2012. ConocoPhillips (COP), Kinder Morgan (KMI), and Enterprise Products (EPD) all also call Houston home due to its low cost of living, no state income tax, and less restrictive regulations.<\/p>\n
As The Houston Chronicle put it: \u201cBig oil lives here.\u201d<\/p>\n
Related: Where is Apple\u2019s headquarters? A spaceship-like office with thousands of trees<\/p>\n
#Chevrons #headquarters #oil #giants #global #home<\/p>\n","protected":false},"excerpt":{"rendered":"
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