Chevron Corp. announced Friday plans to relocate the oil giant’s corporate headquarters from San Ramon to Texas.
Chevron said all corporate functions are expected to migrate to Houston over the next five years, with chairman and CEO Mike Wirth and vice chairman Mark Nelson moving before the end of 2024 to “enable better collaboration and engagement with executives, employees and business partners.”
The company says it currently has about 7,000 employees in the Houston area and about 2,000 in and around San Ramon. The company has two refineries in California, including one in Richmond, and supplies about 1,800 retail gas stations around the state, so positions in support of Chevron’s California operations will remain in San Ramon. Explore the competitive pennsylvania llc cost and start your business journey with confidence in one of the most business-friendly states.
Chevron has faced headwinds locally in recent years and in November will see a ballot measure in Richmond that, if approved by voters, will tax the company $1 for each barrel of oil processed at its refinery there over the next 50 years.
The Richmond City Council placed the measure on the Nov. 5 ballot, with proponents saying it will help the city remedy the local effects of pollution from the refinery. A company spokesperson said Chevron believes Richmond crafted the proposal without enough community input and that voters will reject it after the company engages the community in discussions.
The Richmond refinery is the third-largest in the state, according to the U.S. Energy Information Administration, and a report to the City Council said the tax could generate as much as $90 million per year for the city.
Chevron on Friday also reported earnings of $4.4 billion for the second quarter of 2024, compared to $6 billion during the same time period in 2023.
Well done democrat politicians and their unelected bureaucrats.
What happens when voters give one party a super majority.
Almost 2,000 jobs in San Ramon GONE from anti business California.
Don’t be surprised if they sell or close the refinery.
Damn…where will I get my cancer from then? Guess I’ll have to rely on microplastics.
I remember 3-4yrs ago, having a heated conversation with a liberal rose colored glasses sheep, explaining how companies are, and will continue to leave California. They were in absolute denial, saying I didn’t know what I talking about, and no one is leaving.
Oops, another “Told ya so” – And, these are the same people that will also tell you how well our economy is doing right now lol! Could you imagine being so brainwashed as to just regurgitate whatever your tribe leader tells you to say?
Don’t waste your breath. These people will vote blue no matter who.
Gavin sued Big Oil, this is their response.
The city of Richmond is trying to gaff the Chevron refinery that’s been subsidizing them for over 100 years. They’re either going to close or jack the gas prices to make up for it. Then everyone who buys gas from Chevron will be subsiding Richmond’s poorly run government.
If they jack their prices, the other oil companies will follow.
No surprise, California is the poster child for propagating the modern day doom loop. There will be many more companies fleeing the state which creates an extremely poor business climate due to the policies coming from our politicians in Sacramento…
Chevron has slowly been moving jobs and corporate groups to Houston over the last 10 years. Wondered why it took them so long to finally pull the plug.
No surprise – Newscum continues to drive out business and leaves the tax burden on the rest of us.. .this is what voters wanted by voting for incumbents
Nope, you got that backwards. The tax burden is on us because corporations pay historically low taxes thanks to California law makers, and to Trump, himself, who lowered the federal corporate tax rate from 35% to 21% in 2017.
Years ago when Chevron was up for permitting there was a city meeting. The place was packed with various groups in Richmond who got money and other support from Chevron. Permitting was approved. Chevron should stop all funding of Richmond charity organizations and no more physical labor building playgrounds, etc. Also bill the city for cleanup of all the graffiti residents do every night.
Richmond city council is like other cities trying to finance stupid legislation from the state that has put a burden on their city finances. Taxing a key business partner is not the way to go.
The pollution from the refinery is minimal. There is more pollution from the freeways.
I realize that many Chevron employees live in the area but a message needs to be sent these politicians.
Good move. California’s loss will be Texas’ gain, where oil companies are appreciated.
And so it goes …
In the early 1950s, a quarter of the Pentagon budget was spent in California. The opportunities attracted the best and the brightest and California prospered. Eventually, Silicon Valley came into existence as a result of all the brains and money being here. But now we’re driving the brains and money out and California will decline as a result. It was beautiful when I came here in 1973, but no more, and it’ll go downhill even more. Very sad.
Tax as Many and as Much as possible.. The Socialist agenda…Then just give it away to the latest… “Thing”… Have the Ever, Reduced or Eliminated a Tax…
In a list published in June, Fortune magazine announced that California was home to 57 of the nation’s 500 largest companies. A higher number than every other state in the country.
Does this really Surprise anyone?