Trade Chevron - CVX CFD

Chevron Company profile

Chevron Corporation (CVX), is a global gas and oil company.

Chevron was established on 10 September 1876 by merchants and explorers as the Pacific Coastal Oil Company. It became Chevron Corp. in 2005. 

As of March 2022, the company manages all stages of petroleum operations, including upstream exploration and production, midstream transportation, power and trading, and downstream manufacturing and retail. 

Some of the company’s biggest projects include:

• Gorgon: located in Australia, this is one of the largest natural gas projects globally. Operated by Chevron Australia in a joint venture with ExxonMobil (XOM), it includes a liquified natural gas facility. In 2020, total daily production at the reserve averaged at 2.1bn cubic feet of natural gas. 

• Wheatstone: also located in Australia, this is the country’s first liquified natural gas hub. 

• Jack/St. Malo: the company’s “signature” deepwater project located in the US Gulf of Mexico at a depth of approximately 7,000 feet. The project’s total daily production amounted to 9m cubic feet in 2020.

In 2022, the company announced that it would acquire Renewable Energy Group as the company attempts to lower its carbon footprint. 

Over the years, Chevron has partnered with major companies like Microsoft Corp. (MSFT) and Toyota Motor Corp. (TM), as well as with a number of US universities.

Chevron (ticker: CVX) went public on the New York Stock Exchange (NYSE) in 1921.