Chevron Corp. operates oil and gas fields, pipelines, storage terminals, petroleum refineries, and petrochemical plants. Operations are divided between the Upstream and Downstream business units. Common shares are listed on the NYSE (CVX) exchange. The name Chevron came into use as a brand for petroleum products in the 1930s.
California Stark Oil Works discovered oil north of Los Angeles in 1876 and was acquired by Pacific Coast Oil Company in 1879. The Texas Fuel Company, which was later renamed Texaco, was also formed in 1901, and Standard Oil acquired Pacific Coast in 1900, forming California Standard in 1906 which became independent of Standard Oil following the US supreme court decision in 1911. In 1926, California Standard acquired Pacific Oil from the Southern Pacific Railroad and changed its name to Standard Oil of California (Socal). Socal and Texaco formed the joint venture Caltex in 1936 to drill and produce oil in Saudi Arabia.
Socal acquired Kentucky Standard in 1961, and Caltex operations in western Europe were divided between Socal and Texaco in 1967. The company consolidated in the United States under the name Chevron in 1977. Chevron acquired Gulf Oil in 1984 after divesting some assets to gain clearance from the United States government, and Texaco acquired Getty Oil that same year. Additional upstream assets were acquired from Tenneco in 1988. In 2000, Chevron acquired Texaco to form ChevronTexaco which was renamed Chevron in 2005. Also in 2005, Unocal was acquired, adding assets in Asia, the Gulf of Mexico, and Caspian regions.