Tuesday, 19 November 2024

American Oil Giant Announces Move From California To Texas

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Oil giant Chevron announced it will move its headquarters from California to Texas.

The corporation intends to relocate from San Ramon to Houston before the end of the year.

According to CBS News, the corporation has “often been at odds with California state regulators and politicians over fossil fuels and climate change.”

“The company expects all corporate functions to migrate to Houston over the next five years,” Chevron said, according to Fox Business.

“Positions in support of the company’s California operations will remain in San Ramon,” it added.

Per Fox Business:

Chevron said about 2,000 of its employees work in San Ramon at the moment and 7,000 are located in Houston.

CEO Mike Wirth and Vice Chairman Mark Nelson will make the move to Houston prior to headquarters relocation becoming official Jan. 1 to “co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners,” according to the company.

Texas Gov. Greg Abbott celebrated Chevron’s decision to relocate.

“Texas is your true home,” he posted on X. “Drill baby drill.”

The Houston mayor’s office said on X that the move is “Great for Houston!”

Contributing to the company’s move is likely California’s lawsuit filed last year against five big oil companies, including Chevron, and an industry trade group over climate change. The state has also been leaning more into renewable energy policies.

Chevron is the latest corporation to relocate from California.

Elon Musk recently announced he would move X and SpaceX outside of California due to legislation signed by Gov. Gavin Newsom.

“This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas,” Elon Musk said.

“I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children,” he added.

“And 𝕏 HQ will move to Austin,” Musk said.

“Have had enough of dodging gangs of violent drug addicts just to get in and out of the building,” he added.

CBS News reports:

Chevron CEO Mike Wirth said the company differs from California on energy policy and regulation, leading it to depart from its California home of more than 140 years

“We believe California has a number of policies that raise costs, that hurt consumers, that discourage investment and ultimately we think that’s not good for the economy in California and for consumers,” Wirth told the Wall Street Journal.

Chevron has operated its headquarters from San Ramon, about 34 miles east of San Francisco in Contra Costa County, since 2002. It moved to the East Bay from its previous headquarters in San Francisco, where it had been located since 1879 with the incorporation of the Pacific Coast Oil Company.

Chevron will now be headquartered in Houston, where it already has several thousand employees. In 2022, Chevron sold its sprawling San Ramon campus and began moving workers to its Houston offices, saying at the time it would keep its headquarters in California.

The company issued a statement today saying the headquarters relocation would be completed before the end of 2024, “to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners.”


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