Chevron has announced plans to lay off 15% to 20% of its global workforce by the end of 2026 as part of a cost-cutting initiative aimed at streamlining operations. The U.S. oil giant is currently engaged in a legal battle with Exxon Mobil over its planned acquisition of Hess, a key component of its strategy…
Chevron has announced plans to move its headquarters from San Ramon, California, to Houston, Texas, marking the first time in over a century that the energy giant will not be headquartered in California. The transition is set to begin with Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson relocating to Houston by…
Chevron Corporation revealed its plans to acquire rival oil company Hess Corporation in a significant consolidation deal. The $53 billion transaction, combined with the assumption of debt, marks yet another instance of cash-rich oil giants seizing the opportunity to enhance their assets and returns amid high oil prices and substantial profits. Although these corporations face…
Chevron reported a record full-year profit of $36.5 billion, buoyed by high oil prices. As reported on CNN, adjusted earnings for the year more than doubled from the $15.6 billion Chevron earned in 2021 and up 36% from its previous record profit set in 2011. The oil company’s fourth-quarter earnings came in at $7.9 billion,…
