Chevron: Company Overview Role Of Government Regulations For Oil Company And Issues And Opportunities Companies Face

1616 words - 6 pages

Chevron conducts business in over 100 countries and employs 68,000 people around the globe. The organization has a long rich history that led to one of the leading energy organizations with awards from the National Ocean Industry Association and the California Department of Oil, Gas and Geothermal Resources for the organizational efforts to protect the environment. They have also made important improvements in technology and alternative fuel that will push the organization into the future.History of the CompanyThe Chevron Corporation began in 1879 and was originally known as, Pacific Coast Oil Company. In 130 years of history and growth the company has seen many changes. Alex Mantry an oil field pioneer was the first person to strike oil in the hills of the San Joaquin Valley. Lacking capital and funding to get his company off the ground he sold his oil well and the surrounding fields to Pacific Coast Oil. In the next year, Pacific Coast would build the largest and most modern refinery in the United States, producing 600 barrels of oil a day.In 1878 Standard Oil Company opened a three man office. With financial backing from its New York parent and strong marketing, the company became an emerging leader. Standard Oil was the major marketer for kerosene in the western United States lighting 96.5% of the western United States. Lacking the savvy of Standard Oil, Pacific Coast oil was struggling financially despite its innovation in the oil market and in 1900 was acquired by Standard Oil but was allowed to retain the name Pacific Coast oil. This now merged the fuel business with both kerosene and oil production under one company.In 1901 the company purchased 500 acres in Richmond California and started work on the Richmond refinery and the new pipeline to feed the huge refinery. The location of this refinery was a perfect location for not only the pipeline but also to the proximity of the marine terminal in San Francisco. Growth for the company included the purchase of a fleet of vessels converted into barrel tankers; providing transportation of oil throughout the United States.Over the next several years as the gasoline market began to grow with the ever increasing popularity if the automobile, Standard Oil grew and expanded operations into other areas creating the service station. With a pioneering spirit and motivation the company continued to grow and develop in the early 1900's creating one of the largest oil companies on the west coast with markets in natural gas, oil and kerosene; Standard oil cornered the market in energy production.Over the next 70 years the company continued to grow and explore the world entering markets in South America, Nigeria, and the Middle East. The company developed new methods for oil exploration including off shore drilling and refinery structuring that would allow them to produce up to 150,000 barrels of oil a day.In 1977 the company went through an organizational change and became Chevron USA. With the familiar...

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