Chevron Corporation Overview
Chevron Corporation is engaged in providing administrative, financial management, and technology support for energy and chemical operations. It operates through the upstream and downstream business segments. The upstream segment comprises the exploration, development, and production of crude oil and natural gas. The upstream segment also covers the processing, transporting, storage, and marketing of natural gas. The downstream segment covers the refining of crude oil into petroleum products, marketing of crude oil and refined products, and transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car. It also includes the manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. Chevron operates in some of the world’s leading natural gas basins and uses the GTL technology to develop natural gas as a resource.
Chevron Corporation provides pipeline services through its subsidiary, Chevron Pipeline Company. It conducts business all around the globe, including countries such as Argentina, Australia, Brazil, Canada, China, Indonesia, Iraq, the Netherlands, the US, the UK, and South Korea. Texaco, Inc., Chevron Phillips Chemical, Chevron Oronite SA, PT Chevron Pacific Indonesia, and GS Caltex are some of the subsidiaries of the company.
Strategy
Chevron Corporation focuses on expansion in terms of geographic presence and product portfolio. It has also been focusing on product innovation and the optimization of manufacturing operations to provide technologically advanced products as per the requirement of the customer. The company aims to gain financial stability and improve gross profit, which is expected to enhance its operational performance. It has an Enterprise Risk Management (ERM) process in place to enhance the decision-making process and reduce the impact on pipeline operational processes. The company concentrates on temperature and thermal management by providing insulation between the pipelines, which makes transporting oil and gas safer through pipelines.
