“The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,” Chevron said in an email. (Source: Image of Chevron headquarters by askarim / Shutterstock.com)
Chevron Corp. is planning to relocate its global headquarters to a new leased space in California and sell its existing head office in the state, a company spokesperson told Reuters on June 24.
“The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,” the company said in an email.
Chevron, currently based in San Ramon, California, is expected to shift its headquarters to the new site during the third quarter of 2023.
The U.S oil company will also cover moving costs for employees who opt to shift to its Texas campus, according to the Wall Street Journal, which reported the move earlier in the day.
The second largest U.S oil producer’s North American upstream operations are based out of Houston.
Rival Exxon Mobil in January also relocated its corporate headquarters from Irving, Texas to its campus north of Houston.
Recommended Reading
Exxon Mobil Ramps Up $400MM CCS Project in Wyoming
2024-10-03 - The $400 million project will expand capture capacity by up to about 1.2 million metric tons of CO2 per year, Exxon Mobil said.
Exxon Mobil Targets $2B More Earnings from Low Carbon Solutions
2024-12-17 - Exxon Mobil executives say the pace of growth for areas such as CCS, hydrogen and lithium vary due to uncertainty.
Exxon Mobil, LG Chem Ink Deal for Lithium Carbonate
2024-11-20 - As part of the nonbinding offtake agreement announced Nov. 20, Exxon will supply lithium from its planned project to LG Chem’s cathode plant in Clarksville, Tennessee.
Trial and Error: CCS Tries Out Multiple Approaches to Get Ball Rolling
2024-10-30 - Is carbon capture and sequestration about to turn the corner? Some obstacles may stand in the way.
Supermajors Ramp Up Biofuel Investments, Rystad Says
2024-11-20 - Between BP, Chevron, Shell, TotalEnergies, Exxon Mobil and Eni, the projects could add 286,000 bbl/d of production capacity, Rystad analysts said.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.