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Chevron participates in various types of businesses related to oil and gas industry. They have played a stellar role in exploration and development of oil and gas products. It also has other businesses like manufacturing, geothermal, marketing and transportation, power generation, and chemicals manufacturing and sales.
Chevron was incorporated in 1879. Its initial name was Pacific Coast Oil Company. This company came about when oil was discovered at Pico Canyon. It was later named Standard Oil Company of California.
Products and services
Chevron offers specialized products and services for drivers and business enterprises. For drivers, Chevron provides fuels and stations, motor oils and fuel additives and gifts and credit cards. For businesses, Chevron provides additives, lubricants, aviation, marine, business opportunities, specialty products, chemicals, supplier diversity, energy services, technology and fuels.
In 2007, sales of Chevron amounted to around $203.97 billion and it earned profits worth nearly $18.69 billion. Assets held by Chevron were worth around $148.79 billion and its market value stood at almost $179.97 billion.
Awards and recognition
Chevron has received a number of awards from various organizations for their services and products. Defense Logistics Agency has conferred it with honors like Outstanding Small Business Program Rating and Certificate of Achievement.
Department of Defense has provided Chevron with Outstanding Rating for Small Business Program. Golden Triangle Minority Supplier Development Council has given Chevron âCorporation of the Yearâ award.
Golf South Minority Supplier Development Council has conferred Chevron with âAdvocate of the Yearâ and âCorporation of the Yearâ awards. Houston Minority Business Council has awarded Chevron with âSupplier Diversity Advocate of the Yearâ.
Current financial crisis
Chevron has said on October 31, 2008 that it expects ongoing financial crisis would help it. It has claimed that this phenomenon would actually strengthen various advantages possessed by them. However, in October, 2008 Chevron Philippines has had to reduce prices of their oil products by 1 peso per liter.