Energy giant Chevron on Friday announced its planned corporate relocation to Houston from San Ramon, the California city where it has long been based.
Oil giant Chevron is moving its headquarters to Texas from California, the latest company to exit the Golden State. The company on Friday announced its planned corporate relocation to Houston from San Ramon, where it has long been based.
The company expects all corporate functions to migrate to Houston over the next five years," Chevron said. "Positions in support of the company’s California operations will remain in San Ramon." 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.
Chevron reported earnings of $4.4 billion, or $2.43 per share, in the quarter, compared with $6 billion a year before. It reported adjusted earnings of $4.7 billion, or $2.55 per share, compared to $2.93 expected by Wall Street analysts, according to LSEG data. Reuters contributed to this report.
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