Chevron is the second largest producer of oil in the Gulf of Mexico. It is the third
largest producer of oil in the United States and 24 other countries. Their production
worldwide has been quoted as 1.4 million barrels of oil and gas a day. Chevron's
products are transported over land by pipeline and tankers, and over water by barges.
The headquarters for this huge corporation is in Houston, Texas, but they also have
offices in California, London, Singapore, Mexico, and Moscow to name a few. They have
pipelines that extend across the United States and also in Africa, Australia, Indonesia,
New Guinea, Europe, and the Middle East. In addition to oil and natural gas, Chevron is
also one of the leading coal producers in the United States. The company is very
interested in the environment and more than half of the company's reserves are of low
sulfur coal. Chevron's latest accomplishment is geared towards capturing much of the oil
reserves waiting to be found in Russia. Before the fall of the Soviet Union in 1991,
Chevron had nearly signed a deal with the government to buy Tenghiz, the biggest oil
field to become available in twenty years. Hug reserves of oil, approximately 250
billion barrels, were waiting to be taken from the earth. After the uprising in Russia,
Chevron feared that the deal would be off. Fortunately, they were able to bargain with
the new-found government and enter into a joint agreement to produce oil from the fields
in Tenghiz. At this time, Chevron is planning to export the oil from Russia by pipeline
to the Black Sea where it will be transported out by oil tanker. The cost of this
entire deal will be somewhere in the area of $10 billion dollars. In 1991 Chevron had
revenues of $40 billion dollars with a net income for the year of 1.3 billion dollars.
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