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Chevron is a household name throughout the world and is synonymous with the oil and gas industry. The company has a robust history throughout the United States as well as overseas, and has been accumulating vessels for offshore activities since its early days as Pacific Coast Oil. The extensive Chevron history has paved the way for it to become a leading exploration and production company.
HISTORY AND COMPANY STRUCTURE
Chevron’s earliest predecessor was Pacific Coast Oil Co., which was incorporated in 1879 in San Francisco. The company built California’s largest refinery around this time, with a capacity of 600 barrels a day. In 1900, the company was acquired by one of Standard Oil’s subsidiaries, after which it expanded its refinery and vessel operations. By 1911, the company had developed successful wells throughout California.
After many further acquisitions in the early twentieth century, the company began international operations in 1920 in search for oil, including stops in the Philippines and the Middle East. During this time, the company was known as Standard Oil Co. of California (or “Socal”). World War II changed the economic output for most of the country, including oil and gas operations, requiring a steady supply of crude oil. The upward trend continued throughout much of the twentieth century, and in 1967, the company created Chevron Oil Europe to manage divided operations between Socal and Texaco. Throughout this time, the company continued to increase its fleet size through the addition of various carriers and barges.
Chevron USA was founded in 1977, after merging 6 different oil and gas operations into the one company. In 1984, the company grew its assets tremendously by acquiring Gul Oil Corp, which added major exploration and production operations throughout the Gulf of Mexico, Canada, and the North Sea. Chevron has now set its goals on further deepwater development, and began production from the Tahiti Field in the Gulf of Mexico in 2009. The company took advantage of technical advancements in drilling to this level, using 3-D imaging signals to view the full extent of the field. This type of technology will impact the company in years to come as further deepwater operations continue.
THE MALLEY LAW FIRM | HOUSTON MARITIME LAWYER
If you or a loved one have been injured in an offshore accident, do not hesitate to contact the Malley Law Firm. Tony Malley has years of experience in assisting clients with their maritime accident claims, and will work tirelessly to ensure you receive the compensation you deserve for your injuries. Contact our Texas offices today for your initial free consultation.