DOCSLIB.ORG

Human Energy

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Human Energy Human Energy 2005 Annual Report “WHAT WE’RE MADE OF” Hurricanes Katrina and Rita interrupted crude oil and transportation and marketing operations and to natural gas production in the U.S. Gulf of Mexico and deliver critically needed emergency fuel to the region. temporarily shut down one of our largest refi neries. “There wasn’t a barrier we couldn’t overcome,” says Chevron employees throughout the region responded Roland Kell, general manager of the Pascagoula, to the storms with exceptional courage, compassion Mississippi, refi nery, which was damaged by the and commitment. They rescued neighbors, located storms. “We truly found out what we’re made of.” colleagues and provided urgently needed food, water, ON THE COVER: Roland Kell, general manager, Pascagoula Refi nery. clothing and medical aid to local communities. At ON THE BACK COVER: The employee team who led relief efforts the same time, they launched a massive, around- and the safe startup of the refi nery: (left to right) Val Vialpando, Darin Matthews, Amy Brandenstein, Amy Jones, Brian Beech, Marisa the-clock effort to restore production, refi ning, Jackson, Bob Phillips and Christine Sims. GROWING ENERGY DEMAND IS ONE OF THE WORLD’S GREAT CHALLENGES. Together, we must continue to fi nd innovative ways to provide the energy that will fuel economic development and improve the quality of life for people everywhere. At Chevron, we are relentlessly focused on producing safe, reli- able energy now and for the future. How are we doing it? By applying the energy we have most in abundance: human energy — our own and that of our partners around the world. TABLE OF CONTENTS Letter to Stockholders 2 Ultraclean Fuel for the Future 15 2005 was a year of unprecedented With our joint-venture partner, we accomplishment and challenge. are applying leading-edge technol- ogy that turns natural gas into an Skyscraper at Sea 7 ultraclean transportation fuel. The fi rst phase of the Benguela Belize-Lobito Tomboco development, Drilling for Success 17 offshore Angola, was completed. The Unocal merger gave us excel- lent assets and talent. Exploring for Growth 9 Tahiti is one of the largest, deepest Human Energy — In Abundance 18 and most signifi cant discoveries made Human energy is evident every- to date in the U.S. Gulf of Mexico. where at Chevron — take a look at the people who are generating it. Technology That Drives Results 11 State-of-the-art injection technology Operating Highlights 20 is expected to signifi cantly increase Milestones were achieved that are production capacity from the giant building a platform for future success. Tengiz Field in Kazakhstan. Glossary of Energy and Financial Delivering the Promise of Terms 24 Natural Gas 13 Financial Review 25 2005 was a year of milestones for Five-Year Operating Summary 87 developing Chevron’s vast natural Five-Year Financial Summary 88 gas resources offshore Western Board of Directors 103 Australia. Corporate Offi cers 104 TO OUR STOCKHOLDERS We enhanced our position in the deep water with dis- 2005 was a year coveries at Big Foot and Knotty Head in the U.S. Gulf of Mexico and at Manatee offshore Trinidad and Tobago, of unprecedented among others. Our combination of experience and applied technology resulted in a total of 31 successful exploration accomplishment wells in 2005 and an exploration success rate of 58 percent, one of the best in the industry. and challenge for We reached key milestones in our queue of major capital projects, most notably the Benguela Belize-Lobito our company. We reported record earnings and completed the acquisi- Tomboco deepwater project in Angola, which is the fi rst tion and integration of Unocal. We made major new of our “Big 5” projects to begin production. We began discoveries of crude oil and natural gas and took sig- construction of production facilities for the Tahiti (U.S.) nifi cant steps to expand our global natural gas business. and Agbami (Nigeria) deepwater projects, as well as the Although our employees and facilities sustained damage Escravos gas-to-liquids plant in Nigeria. Our global gas from back-to-back hurricanes in the U.S. Gulf Coast, we business reached key agreements with Japanese utility are recovering with remarkable resilience and effi ciency. companies for future sales of liquefi ed natural gas (LNG) from the Gorgon project in Australia into Japan, the world’s largest LNG market. Our fi nancial performance refl ects the capital discipline Refi ning and marketing operations benefi ted from that is necessary to create sustained value and growth. strong margins in Asian and U.S. markets, and we moved Net income in 2005 was $14.1 billion on sales and other forward with expansion plans at our largest U.S. refi n- operating revenues of $194 billion – representing record eries. In Asia, we approved a major upgrade of the Yeosu levels in both categories. Return on capital employed for Refi nery in South Korea, the world’s fourth-largest refi n- the year was a strong 21.9 percent. We increased our divi- ery, to enable heavy oil processing. dend in 2005 for the 18th consecutive year, completed the Our planned capital and exploratory spending pro- purchase of $5 billion of the company’s shares in the open gram for 2006 is $14.8 billion, a 34 percent increase over market under a program started in 2004 and initiated a 2005. This level of investment is aligned with our strong new program to acquire up to an additional $5 billion of queue of growth projects and our commitment to bring shares over a period of up to three years. A critical mea- new energy supplies to market. sure of our performance, total stockholder return (TSR), was 11.3 percent for 2005. From 2001 through 2005, TSR averaged 9.7 percent, among the highest of our larger COMPETITIVE ADVANTAGE The operating environ- peer companies. ment for the energy industry continues to be challenging. With a sustained increase in global demand, tight supplies and a dynamic geopolitical situation, we continue to MAINTAINING MOMENTUM We executed strongly believe our industry is dealing with a fundamentally new against our key business strategies in 2005, enhancing energy equation. To some extent, risk in our industry has our foundation for current and future growth. The suc- shifted from below ground – where Chevron has proved cessful integration of Unocal’s operations strengthened ex treme ly effective at fi nding and producing hydrocarbons our competitive profi le in key markets, par ticularly in – to above ground, where challenges include access to Southeast Asia, where we are in the top tier of natural re sources, barriers to the free fl ow of capital investment gas producers. Unocal’s world-class assets in Asia, the Cas- to produce those resources and the economic develop- pian and the U.S. Gulf of Mexico are a superb strate gic ment of infrastructure needed to connect energy supplies fi t with Chevron’s portfolio and capabilities. In addition, to markets. Unocal provided us with a deep source of talent and lead- In this environment, the competitive advantage will go ing-edge technology, particularly with the drill bit, that to companies that demonstrate sustained performance and we are integrating throughout our enterprise. operating excellence, apply new technology in ways that 2 drive results, and create partnerships that enable the effi - It is our people who develop our strategies, build our cient execution of complex cross-border projects. These partnerships, create new technology, ensure that we oper- are all core capabilities of Chevron. ate safely and ethically, and manage the great risks that are part of our business. It is this “human energy” that HUMAN ENERGY: THE HEART OF CHEVRON Our this year’s Annual Report celebrates. It is at the heart of success in 2005 was defi ned by a number of factors – Chevron. And it will continue to drive our mission to robust strategies, consistent execution, a safety record deliver safe, clean and reliable energy to fuel economic that is among the best in our business, innovative technol- growth and human progress. ogy and strong commodity prices. But the fundamental Thank you for your continued support. contributor to our success is the people of Chevron. Their dedication, resourcefulness and sheer ingenuity were on display throughout the year and were dramatically high- lighted in our response to Hurricanes Katrina and Rita. Whether it was Chevron employees helping each other, Dave O’Reilly assisting the community or working to restore energy Chairman of the Board and supplies to the marketplace as quickly as they did, their Chief Executive Officer actions were truly heroic. February 27, 2006 “ IT IS OUR PEOPLE WHO DEVELOP OUR STRATEGIES, BUILD OUR PARTNERSHIPS, CREATE NEW TECHNOLOGY, ENSURE THAT WE OPERATE SAFELY AND ETHICALLY, AND MANAGE THE GREAT RISKS THAT ARE PART OF OUR BUSINESS. IT IS THIS ‘HUMAN ENERGY’ THAT THIS YEAR’S ANNUAL REPORT CELEBRATES.” 3 CHEVRON FINANCIAL HIGHLIGHTS Millions of dollars, except per-share amounts 2005 2004 % Change Net income $ 14,099 $ 13,328 6 % Sales and other operating revenues $ 193,641 $ 150,865 28 % Capital and exploratory expenditures* $ 11,063 $ 8,315 33 % Total assets at year-end $ 125,833 $ 93,208 35 % Total debt at year-end $ 12,870 $ 11,272 14 % Stockholders’ equity at year-end $ 62,676 $ 45,230 39 % Cash provided by operating activities $ 20,105 $ 14,690 37 % Common shares outstanding at year-end (Thousands) 2,218,519 2,092,952 6 % Per-share data Net income – diluted $ 6.54 $ 6.28 4 % Cash dividends $ 1.75 $ 1.53 14 % Stockholders’ equity $ 28.25 $ 21.61 31
Load more

Recommended publications
  • Chevron Corporation 1995 Annual Report
    Chevron Corporation 1995 Annual Report New Prospects. New Perspectives. CHEVRON CORPORATION 1995 ANNUAL REPORT Table of Contents Chevron at a Glance 1 TO OUR STOCKHOLDERS BUSINESS AREAS OF OPERATION 3 FINANCIAL HIGHLIGHTS EXPLORATION AND PRODUCTION Explores for and produces crude oil and Major producing areas include the 4 OPERATING HIGHLIGHTS natural gas in the United States and 24 Gulf of Mexico, California, the Rocky 6 THE CHEVRON WAY other countries. Third-largest U.S. natu- Mountains, Texas, Canada, the North The company’s Mission and ral gas producer. Worldwide net produc- Sea, Australia, Indonesia, Angola, Vision statements tion was more than 1.4 million barrels a Nigeria and Kazakstan. Exploration day of oil and equivalent gas. areas include the above, as well as 7 NEW PROSPECTS. Competitive Advantage: Balanced U.S. frontiers such as Bolivia, Colombia, NEW PERSPECTIVES. and international short- and long-term Congo, Peru, Ireland and Namibia. STRATEGIES FOR THE FUTURE opportunities create high-value portfolio. 10 Build a committed team to accomplish the corporate mission. REFINING Converts crude oil into a variety of Principal U.S. locations are El Segundo 10 Continue exploration and pro- refined products, including motor gaso- and Richmond, Calif.; Pascagoula, duction growth in international line, diesel and aviation fuels, lubri- Miss.; Salt Lake City, Utah; El Paso, areas. cants, asphalt, chemicals and other Texas; and Honolulu, Hawaii. Also re- 14 Generate cash from North products. Chevron is one of the largest fines in Canada, Wales and (through its American exploration and pro- refiners in the United States. Caltex affiliate) Asia, Africa, the Mid- duction operations, while main- Competitive Advantage: Largest supplier dle East, Australia and New Zealand.
    [Show full text]
  • Chevron 2006 Annual Report
    2006 Annual Report LETTER TO STOCKHOLDERS 2 EMERGING ENERGY 10 OPERATING HIGHLIGHTS 18 FIVE-YEAR OPERATING SUMMARY 85 THE ENERGY PORTFOLIO: EFFICIENT ENERGY 12 GLOSSARY OF ENERGY FIVE-YEAR FINANCIAL SUMMARY 86 CONVENTIONAL ENERGY 6 HUMAN ENERGY 14 AND FINANCIAL TERMS 24 BOARD OF DIRECTORS 1 0 1 UNCONVENTIONAL ENERGY 8 CHEVRON PERSPECTIVES 16 FINANCIAL REVIEW 25 CORPORATE OFFICERS 102 Demand for energy continues to rise, posing a clear challenge for our industry: how to develop new and better ways to produce, process, use and deliver all forms of energy — from conventional crude oil and natural gas to the emerging sources of the future. At Chevron, we recognize the world needs all the energy we can develop, in every potential form. We’re managing our energy portfolio to deliver that energy — and to create growth and value for our stockholders, our customers, our business partners and the communities where we do business. The energy portfolio CONVENTIONAL UNCONVENTIONAL EMERGING EFFICIENT HUMAN ENERGY ENERGY ENERGY ENERGY ENERGY 6 8 10 12 14 TO OUR STOCKHOLDERS 2006 was an exceptional year for our company. We continued to deliver value to our stockholders and to make strategic investments that will drive sustained, superior performance over the long term. We reported record net income of $17.1 billion on sales and other operating revenues of approximately $205 billion. For the year, total stockholder return was 33.8 percent, which was more than double the rate of return delivered by the S&P 500. Return on capital employed was a strong 22.6 percent. We continued to return cash to stock- holders through our stock buyback program, purchasing $5 billion worth of shares in the open market, and we increased our annual dividend for the 19th year in a row.
    [Show full text]
  • Chevron 2007 Annual Report Supplement
    Energy Performance 2007 Supplement to the Annual Report Table of Contents Overview 1 2007 at a Glance 2 Financial Information Upstream 11 Highlights 14 United States 18 Africa 23 Asia-Pacific 30 Indonesia 32 Other International 38 Gas 39 Operating Data Downstream 49 Highlights 50 Refining 51 Marketing 52 Lubricants 52 Supply & Trading 53 Transportation 54 Operating Data Chemicals 60 Chevron Phillips Chemical Company LLC 61 Chevron Oronite Company Other Businesses 63 Technology 64 Power Generation 64 Chevron Energy Solutions 65 Mining Reference 66 Glossary of Energy and Financial Terms 68 Organizations Cautionary Statement Relevant to Forward-Looking Information for the Purpose of “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995 This 2007 Supplement to the Annual Report of Chevron Corporation contains forward-looking statements relating to Chevron’s operations that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “budgets” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
    [Show full text]
  • Annual Report 2016 Www
    Chevron Lubricants Lanka PLC Annual Report 2016 www. chevron.lk Keeping our Chevron Lubricants Lanka PLC Annual Report 2016 1 Chevron Lubricants Lanka PLC Annual Report 2016 www. chevron.lk 2 Annual Report 2016 Keeping our FOCUS Chevron Lanka has delivered yet another year of outstanding results. Your company stood strong, engaging with the issues, working on intelligent solutions and increasing our focus on stakeholder value creation. We have always counted on our strong local and global synergies and the unmatched expertise in technology and industry innovation we own. Over the years we have shared this knowledge, continuing our vision to bring a positive impact to the people and communities we serve, while significantly contributing to the economy of Sri Lanka. Contents 4 Our Vision 5 Financial Highlights 6 Chairman’s Review 8 Managing Director’s Review 12 Board of Directors 16 Management Team 18 Management Discussion & Analysis 27 Financial Review 31 Corporate Social Responsibility 33 Corporate Governance 39 Risk Management 42 Financial Calender 43 Annual Report of the Directors 46 Statement of Directors’ Responsibilities 47 Audit Committee Report 48 Related Party Transactions Review Committee Report 49 Certificate of the Director on Transfer Pricing 50 Remuneration Committee Report 51 Independent Auditor’s Report 52 Income Statement 53 Statement of Comprehensive Income 54 Statement of Financial Position 55 Statement of Changes in Equity 56 Cash Flow Statement 57 Notes to the Financial Statements 84 Ten Year Financial Summary 85 Statement of Value Added 86 Shareholder Information 89 Notice of Annual General Meeting 90 Corporate Information 91 Form of Proxy Annual Report Online www.chevron.lk/reports 2 Our Family of Brands Chevron Lubricants Lanka PLC engages in blending, manufacturing, importing, distributing and marketing lubricants oils, greases, brake fluids and specialty products in Sri Lanka.
    [Show full text]
  • Line Rider Issue 5
    Line Rider Chevron - Global Related Features North America Upstream’s ‘base business’ is racking up solid gains – and redefining the How It Works: status quo. Steamflooding – the 80 Percent Solution These operations might lack the glamour of new growth projects, but they currently account for more than 35 percent of Chevron’s net income. Read about CNAEP’s ‘base business’ achievements Issue 5, Dec. 2005 Also in This Issue Welcome to Tengiz – the Town HOW IT WORKS: Steamflooding – the 80 2005: The Year in Chevron Percent Solution HOW IT WORKS: Watch animation LETTER FROM... On Board the Gemini Voyager VOICES: How Did You Come to Work for Chevron? LETTERS TO THE EDITOR Last Update: 8 December 2005 Content Contact: PGPA - Internal Communications Company Confidential ©2005 Chevron Corporation Technical Contact: PGPA - Internal Communications Opco: PGPA Quiet Stars CNAEP’s Base Business Racks Up Solid Gains and Redefines the Status Quo by John Kelly orth America’s base business might lack the glamour of new growth projects, N but it currently accounts for more than 35 percent of Chevron’s net income. The production figures for the 105-year-old Kern River oil field in California’s San Joaquin Valley are a testament to hard-knuckled perseverance as much as to advances in technology. Output was said to have peaked at 60,000 barrels of oil a day in the early 1900s and, indeed, it gradually dropped by 75 percent. By the mid-1960s, however, the field benefited from a new heavy oil technology called steamflooding and reached a new high of 120,000 barrels a day.
    [Show full text]
  • 2015 Supplement to the Annual Report
    2015 supplement to the annual report Chevron Corporation 2015 Supplement to the Annual Report FC table of contents Overview Upstream Downstream Technology Reference 1 2015 at a glance 9 Highlights 39 Highlights 48 Technology 50 Glossary of energy 2 Financial information 13 United States 40 Refining and and financial terms 17 Other Americas marketing 52 Additional information 20 Africa 41 Lubricants 23 Asia 41 Supply and trading 28 Australia/Oceania 41 Chemicals 30 Europe 42 Transportation 31 Operating data 43 Operating data Cover photo: The 37,000-metric-ton Wheatstone topsides were installed onto the steel gravity structure in April 2015, forming the Wheatstone platform. Chevron Corporation 2015 Supplement to the Annual Report Inside front cover photo: The Wheatstone platform topsides departed the fabricationFD yard in March 2015. 2015 at a glance financial highlights sales and other operating revenues $129.9 billion net income attributable to chevron corporation $4.6 billion, $2.45 per share - diluted return on capital employed 2.5% cash flow from operations $19.5 billion cash dividends $4.28 per share corporate strategies Portfolio management – Realized $5.7 billion in proceeds from asset divestments. Financial-return objective – Create shareholder value and achieve sustained financial returns from operations that will enable Chevron Upstream – Achieved an exploration drilling success rate of to outperform its competitors. Exploration 62 percent with 36 discoveries worldwide, and added 1.8 billion Enterprise strategies – Invest in people to strengthen organizational barrels of oil-equivalent resources. Continued shale and tight capability and develop a talented global workforce that gets results resource drilling programs in Argentina, Canada and the the right way.
    [Show full text]
  • Horseless Carriage” When It Was Invented More Than 100 Years Ago, the Auto- Mobile Soon Captured the Public Imagination and Transformed Daily Life
    br4_038-039 6/17/05 3:26 AM Page 38 THE MARKET Originally derided as a “horseless carriage” when it was invented more than 100 years ago, the auto- mobile soon captured the public imagination and transformed daily life. This worldwide love affair with the automobile has created an ever-expanding market for not only the fuels and products to keep cars running, but for the network of retailers — service stations and convenience stores — that form the structure for supplying the consumers. From the first oil wells found in Pennsylvania, California, and Texas in the second half of the 19th century to today’s exploration operations that span the globe, energy companies like Chevron Corp. supply the refined petroleum products that keep our nation — and the world — moving. Chevron- branded products and services, such as the industry- leading Techron® deposit control additive for gasoline and Chevron credit cards, as well as Chevron convenience stores, have become an established part of the automotive products market. But they’re also found in many other industries as well, including marine, aviation, and lubricants. ACHIEVEMENTS As part of the family of brands of Chevron Corp., which is the second-largest U.S.-based energy company and the fifth-largest in the world, the Chevron brand can be found at more than 8,000 retail outlets in 29 U.S. states, primarily in the West, South, Southwest, and in Western Canada. Chevron’s proprietary gasoline additive, HISTORY Susana Mountains of San Joaquin County yielded Techron®, is widely recognized throughout the In the 1860s, spurred by memories of the gold a greater find when Mentry brought Pico No.
    [Show full text]
  • Chevron 2006 Annual Report Supplement
    Managing the energy portfolio 2006 Supplement to the Annual Report tAble oF ContentS 2006 At A GlAnCe UPSTREAm DownStreAm ChemicalS 1 Financial Highlights 11 Highlights 48 Highlights 60 Chevron Phillips Chemical 1 Accomplishments 14 United States 50 Refining Company LLC 1 Corporate Strategies 18 Africa 51 Marketing 61 Chevron Oronite Company 23 Asia-Pacific 52 Lubricants FinAnCiAl inFormAtion 30 Indonesia 52 Supply & Trading other businesseS 2 Financial Summary 32 Other International 53 Transportation 63 Technology 3 Consolidated Statement of Income 37 Global Gas 64 Power Generation Downstream operating Data 4 Consolidated Statement of 64 Chevron Energy Solutions Upstream operating Data 54 Refining Capacities and Comprehensive Income and Income 65 Mining 38 Major Development Projects Crude Oil Inputs From Continuing Operations by Major 39 Net Wells 55 Refining Capacity at Operating Area reFerenCe 40 Proved Reserves Year-End 2006 5 Consolidated Balance Sheet and 66 Glossary of Energy and Financial Terms 41 Net Oil-Equivalent Production 56 Refinery Utilization, Sources Segment Assets 67 Cautionary Statement 42 Net Liquids Production of Crude Oil and Production 6 Consolidated Statement of Cash Flows 68 Major Organizations 43 Net Natural Gas Production 57 Product Sales and Marketing 7 Capital and Exploratory Expenditures 44 Gross Production Retail Outlets and Exploration Expenses 45 Realizations, Natural Gas and 58 Inventories and Vessels 8 Properties, Plant and Equipment Natural Gas Liquids Sales, 9 Miscellaneous Data and Exploration and Development Costs 46 Acreage Demand for energy continues to rise, posing a clear challenge for our industry: how to develop new and better ways to produce, process, use and deliver all forms of energy – from conventional crude oil and natural gas to the emerging sources of the future.
    [Show full text]
  • An Analysis of Strategic Price Setting in Retail Gasoline Markets
    THE ARTS This PDF document was made available from www.rand.org as a public CHILD POLICY service of the RAND Corporation. CIVIL JUSTICE EDUCATION ENERGY AND ENVIRONMENT Jump down to document6 HEALTH AND HEALTH CARE INTERNATIONAL AFFAIRS NATIONAL SECURITY The RAND Corporation is a nonprofit research POPULATION AND AGING organization providing objective analysis and effective PUBLIC SAFETY solutions that address the challenges facing the public SCIENCE AND TECHNOLOGY and private sectors around the world. SUBSTANCE ABUSE TERRORISM AND HOMELAND SECURITY TRANSPORTATION AND INFRASTRUCTURE Support RAND WORKFORCE AND WORKPLACE Browse Books & Publications Make a charitable contribution For More Information Visit RAND at www.rand.org Explore Pardee RAND Graduate School View document details Limited Electronic Distribution Rights This document and trademark(s) contained herein are protected by law as indicated in a notice appearing later in this work. This electronic representation of RAND intellectual property is provided for non-commercial use only. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. Permission is required from RAND to reproduce, or reuse in another form, any of our research documents for commercial use. For information on reprint and linking permissions, please see RAND Permissions. This product is part of the Pardee RAND Graduate School (PRGS) dissertation series. PRGS dissertations are produced by graduate fellows of the Pardee RAND Graduate School, the world’s leading producer of Ph.D.’s in policy analysis. The dissertation has been supervised, reviewed, and approved by the graduate fellow’s faculty committee. An Analysis of Strategic Price Setting in Retail Gasoline Markets Florencia Jaureguiberry This document was submitted as a dissertation in July 2010 in partial fulfillment of the requirements of the doctoral degree in public policy analysis at the Pardee RAND Graduate School.
    [Show full text]
  • 2018 Supplement to the Annual Report Table of Contents
    2018 supplement to the annual report table of contents Overview Upstream Downstream Digital Technology Reference 1 2018 at a glance 9 Highlights 40 Highlights 51 Digital technology 54 Glossary of energy and financial terms 2 Financial information 13 United States 41 Refining and marketing Additional information 18 Other Americas 56 Lubricants 21 Africa 42 Additives 24 Asia 43 Petrochemicals 29 Australia/Oceania 44 45 Supply and trading 31 Europe 45 Transportation 32 Operating data 46 Operating data Cover photo: First production was achieved in November 2018 at the Big Foot deepwater project located in the U.S. Gulf of Mexico. The project is designed for a capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas per day. Inside front cover photo: Photos above show tie-in operations that took place at Big Foot prior to first production in November 2018. Big Foot is estimated to contain total potentially recoverable resources of more than 200 million oil-equivalent barrels. 2018 at a glance financial highlights sales and other operating revenues $158.9 billion net income attributable to chevron corporation $14.8 billion, $7.74 per share – diluted return on capital employed 8.2% cash flow from operating activities $30.6 billion cash dividends $4.48 per share corporate strategies Upstream Exploration – Achieved an exploration drilling success rate of Financial-return objective – Deliver industry-leading results and 61 percent, with 11 discoveries worldwide, and added 2.4 billion superior shareholder value in any business environment. barrels of oil-equivalent resources. Made a significant crude oil Enterprise strategies discovery at the Ballymore prospect in the U.S.
    [Show full text]
  • PAUL S. AOKI, 1286 Acting Corporation Counsel ROBERT M. KOHN, 6291 NICOLETTE WINTER, 9588 530 S. King Street, Room 110 Honolul
    PAUL S. AOKI, 1286 Acting Corporation Counsel ROBERT M. KOHN, 6291 Electronically Filed NICOLETTE WINTER, 9588 FIRST CIRCUIT 530 S. King Street, Room 110 1CCV-20-0000380 Honolulu, Hawaiʻi 96813 09-MAR-2020 Telephone: (808) 768-5234 10:01 AM Facsimile: (808) 768-5105 Email: [email protected] [email protected] SHER EDLING LLP VICTOR M. SHER (pro hac vice pending) MATTHEW K. EDLING (pro hac vice pending) MICHAEL H. BURGER (pro hac vice pending) CORRIE J. YACKULIC (pro hac vice pending) 100 Montgomery St., Ste. 1410 San Francisco, CA 94104 Telephone: (628) 231-2500 Facsimile: (628) 231-2929 Email: [email protected] [email protected] [email protected] [email protected] Attorneys for Plaintiff CITY AND COUNTY OF HONOLULU IN THE CIRCUIT COURT OF THE FIRST CIRCUIT STATE OF HAWAI‘I CITY AND COUNTY OF HONOLULU CIVIL NO. Plaintiff, (Other Non-Vehicle Tort) vs. COMPLAINT SUNOCO LP; ALOHA PETROLEUM, LTD.; ALOHA PETROLEUM LLC; EXXON MOBIL CORP.; EXXONMOBIL OIL CORPORATION; ROYAL DUTCH SHELL Trial Date: None. PLC; SHELL OIL COMPANY; SHELL OIL PRODUCTS COMPANY LLC; CHEVRON CORP; CHEVRON USA INC.; BHP GROUP LIMITED; BHP GROUP PLC; BHP HAWAII INC.; BP PLC; BP AMERICA INC.; MARATHON PETROLEUM CORP.; CONOCOPHILLIPS; CONOCOPHILLIPS COMPANY; PHILLIPS 66; PHILLIPS 66 COMPANY; AND DOES 1 through 100, inclusive, Defendants. COMPLAINT ii TABLE OF CONTENTS I. INTRODUCTION............................................................................................................. 1 II. PARTIES ..........................................................................................................................
    [Show full text]
  • USA Volume 8 Chevron Size: 431.94 KB Format
    THE MARKET Originally derided as a “horseless carriage” when it was invented more than 100 years ago, the automobile soon captured the pub - lic imagination and transformed daily life. This worldwide love affair with the auto - mobile has created an ever-expanding mar - ket, not only for the fuels and products to keep cars running, but also for the network of retailer service stations and convenience stores for supplying customers. From the first oil wells found in Pennsylvania, California, and Texas in the second half of the 19th century to today’s exploration operations that span the globe, energy companies like Chevron supply refined petroleum products to marine, avia - tion, and lubricants industries to keep the world moving. In addition, Chevron-branded prod - Decisions , and for the second year in a row, success, Star Oil Works was renamed California ucts and services like the unsurpassed Techron ® ExtraMile was named Best Overall Convenience Star Oil Works Company (CSOW), and had becom e engine deposit cleaning additive, Chevron credit Store by Convenience Store Petroleum magazine. The an attractive candidate for acquisition by a com - cards, and Chevron convenience stores have outstanding quality and convenience of ExtraMile pany with the financial acumen and capability to become an established part of the automotive prod - complements the quality that customers have come bring the products to market. That organization was ucts market. to expect from Chevron gasolines with Techron ®. Pacific Coast Oil Company (PCO), Chevron’s ear - Chevron’s proprietary gasoline additive, liest predecessor, which acquired CSOW in 1879. ACHIEVEMENTS Techron ® is widely recognized throughout the In the late 1880s, Standard Oil Co.
    [Show full text]