Chevron Announces Headquarters Move from California to Texas

American oil and gas giant Chevron has announced plans to move its headquarters from San Ramon, California, to Houston, Texas. The move, which is expected to take place within the next five years, marks a major change for the company with deep roots in California.

CEO Mike Wirth and Vice President Mark Nelson will move to Houston by the end of the year, with other employees joining them gradually, according to a company statement. Chevron currently employs 2,000 people in California and 7,000 in Texas.

California’s changing energy landscape drives decision

The move appears to reflect the declining presence of the oil industry in California as state leaders push to transition away from fossil fuels. Chevron’s history in California dates back to 1879, when it founded Pacific Coast Oil Company, which later became part of Standard Oil.

“California state leaders have made it increasingly clear that they no longer value the oil and gas industry,” notes industry expert David Blackmon, emphasizing that the state favors importing oil and electricity while phasing out combustion engines.

Related article: California threatens Chevron over withholding gas price data

Chevron’s Growth Through M&A

Chevron has grown significantly through mergers and acquisitions over the past four decades, including the purchase of Gulf Oil Company in 1984 and a merger with Texaco in 2001. The company most recently acquired Noble Energy for $13 billion in 2020 and entered into an all-action deal with Hess Corp valued at $53 billion in 2023.

The move to Houston, long considered the capital of the U.S. oil and gas industry, seems like a natural fit for Chevron as it adapts to changing industry dynamics and regulatory environments.