New York, 3rd August 2024 (TDI): Chevron, the world leading US based oil company said on Friday that it is relocating its headquarters from California.
The oil company announced that it would be moving its corporate headquarters from San Ramon, California, to Houston, Texas, where they have resided since 2002. Chevron will have its headquarters located outside of California for the first time since its establishment over a century ago.
By the end of 2024, Mike Wirth, Chairman and CEO of Chevron, and Mark Nelson, vice chairman, will transfer to Houston; over the following five years, additional corporate operations will be gradually moved as well.
The firm further stated that certain positions, specifically those required to service its “crude oil fields, technical facilities, and two refineries and supplies more than 1,800 retail stations in California,” will continue to be located at the San Ramon offices.
At the moment, the oil company employs roughly 7,000 people in the Houston region and about 2,000 people in San Ramon.
Chevron is just the most recent in a long line of businesses that have abandoned California due to a combination of rising operational expenses and a failure or unwillingness to follow the stringent regulations in the state.
Elon Musk announced last month that SpaceX and X, formerly known as Twitter, would also be moving to Texas. Chevron’s departure from the Bay Area coincides with this news.
According to Musk, the SAFETY Act—a measure that California Governor Gavin Newsom signed—was “the final straw” since it forbids school districts from forcing instructors to notify parents when a student want to identify as someone other than their biological gender.
Musk announced on X that the platform would be relocating to Austin, Texas.
Chevron’s decision to relocate its headquarters was made without providing any details, but the company has been under fire from environmental activists fighting climate change as well as numerous lawsuits alleging that its business and production practices have harmed the environment and public health.
California filed a lawsuit against Chevron and four other significant oil firms in September of last year. The state claimed that the businesses had a history of misleading the public about the dangers of fossil fuels and caused billions of dollars’ worth of harm to the environment and people.
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An official from Chevron informed CNN at the time that Global issues like climate change call for coordinated international policy responses rather than disjointed legal actions for the financial gain of politicians and attorneys.
Oil and gas production has long been supported by California in a major way. Its municipal courts are not allowed under the constitution to play a positive role in determining international energy policy.
