History of Chevron - Oil Industry Company

Today, we discuss the history of Chevron. Chevron, is an American multinational oil industry company and is one of those companies that is standing tall after two centuries since its inception.

The history of Chevron dates back to 1879. This oil industry company started as Pacific coast oil company to develop the Pico Canyon Oil field north of Los Angeles. 21 years later, Standard oil Bought the company and 11 years later in 1911, after the antitrust breakup of standard oil in 1911, it became the standard oil of California or SoCal.

During the 1930s the company discovered oil in Behrain and Saudi Arabia during a geological survey and began its international operations.
In the year 1933, Saudi Arabia granted a concession to Socal to find oil, which finally occurred in 1938. Over a decade later, in 1950, Socal discovered the largest oilfield in the world in Saudi Arabia.

SoCal's subsidiary, California-Arabian Standard Oil Company, evolved over the years, becoming the Arabian American Oil Company or ARAMCO in 1944. Saudi’s realized the importance of oil and in 1973 started buying the company. By the 1980s the company was completely owned by Saudi Sheikhs who changed the name to Saudi Aramco. On the other hand, The Texas Fuel Company, which started out in three rooms of a corrugated iron building in Beaumont, Texas, in 1901, became known as The Texas Company and eventually Texaco.

Fast forward to June of 1998, Chevron’s former Natural gas and Natural gas liquids businesses merged with NGC group and created Dynegy. 3 years later, in 2001, Chevron Corporation acquired Texaco Corporation to form Chevron Texaco. On May 9, 2005, ChevronTexaco announced it would drop the Texaco moniker and return to the Chevron name, but keep Texaco as a brand name under Chevron corporation. In August of 2005 Chevron diversified their operations with the acquisition of Unocol Corporation which was the largest geo thermal energy producer it south east Asia.

This merger made Chevron the world’s largest geo thermal energy producer.

Today Chevron, a big company business, is the fourth largest non-government energy company with headquarters in San Ramon, California, but works actively in more than 180 countries.

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#bigcompanybusiness #chevron #texaco #oilcompany #oil #gas #gasoline
00:00 Presentation
00:36 Origins
01:13 Name
01:26 Saudi Arabia concession
02:28 Caltax Group
03:05 Biggest merger in history
03:26 Chevron Texaco
04:18 Trademark rights
04:54 Alternative energy
05:20 Biofuel
05:41 Environmental damage
06:52 Reducing emissions