Rank: 11
Previous rank: 8
CEO: John S. Watson
Employees: 62,000
Previous rank: 8
CEO: John S. Watson
Employees: 62,000
The world’s third-largest oil company by market
value saw another strong year on better performance from its refining
business. Chevron’s 2012 earnings of $26.2 billion are the second
highest result in company history, behind $26.9 billion in 2011.
But 2013 has begun on a challenging note for the energy giant with lower oil prices and weakening demand lowering profits in the first quarter. Even as demand remains challenging, the company is spending $36.7 billion on exploration and refinery upgrades to bolster oil and gas output, after it fell to a four-year low in 2012.
The company’s focus may be diluted, with the landmark $19 billion environmental lawsuit filed by residents of Ecuador’s Amazon rainforest against it continuing to dominate the annual general meeting. Shareholders are asking fresh questions about the company’s lobbying practices, even as the company restarts business in Brazil after settling another criminal suit related to oil spills.
But 2013 has begun on a challenging note for the energy giant with lower oil prices and weakening demand lowering profits in the first quarter. Even as demand remains challenging, the company is spending $36.7 billion on exploration and refinery upgrades to bolster oil and gas output, after it fell to a four-year low in 2012.
The company’s focus may be diluted, with the landmark $19 billion environmental lawsuit filed by residents of Ecuador’s Amazon rainforest against it continuing to dominate the annual general meeting. Shareholders are asking fresh questions about the company’s lobbying practices, even as the company restarts business in Brazil after settling another criminal suit related to oil spills.
Headquarters:
6001 Bollinger Canyon Rd.
San Ramon, California. 94583
U.S.
925-842-1000
Website: www.chevron.com
6001 Bollinger Canyon Rd.
San Ramon, California. 94583
U.S.
925-842-1000
Website: www.chevron.com
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