Chevron is one of the worlds leading integrated energy companies, with industries that conduct business worldwide. Also Chevron Company is one of the largest oil companies in the United States. Chevron is out of San Ramon, California. The company started in 1879 with the discovery of oil in Pico Canyon north of Los Angeles. The name Chevron became its legal entity name of 1984. Chevron also merged in 2001 with Texaco to grow its business in crude oil and the natural gas market around the world.
The company employs 58,000 people around the world and also 4,000 in service stations. Chevron is producing more than two million barrels of crude oil each day. In this paper, the following topics will be discussed: an overview of the company, latest product developments, and unique marketing strengths.
Chevron Corporation has a net income of $5.0 billion for the third quarter of 2013. The operating profit margin improved from 2011-2012 with an increase from 19.49% in 2011 to 20.09% in 2012. The top three competitors for Chevron Corporation are: (1) XOM: Exxon Mobil Corp, (2) BP: BP PLC, and (3) Royal Dutch Shell. All of these competitors also bring in billions of dollars worth of revenue every year. Chevron Corporation is the fastest growing producer in the world. They are expected to expand even more between now and 2020 and still remain the largest LNG producer. Most of Chevrons growth will take place within the next five years.
Latest Product Developments
Chevron has product presence in both Americans and foreign countries. They offer retail, commercial, industrial and aviation fuel products and services (chevron.com). Thus their customer base ranges from people who are in need of retail, commercial, industrial or aviation fuels and services throughout the Americas and foreign countries. In 2012 it reported proved reserves of 11.3 billion barrels of oil equivalent and a daily production of 2.6 million barrels of oil equivalent, 11,600 miles of oil and gas pipeline, and a refining capacity of 1.95 million barrels of oil per day.
Chevron also owns interests in chemicals, mining, and power production businesses (Hoovers.com). They have such a large and broad involvement in the production of gas and other petroleum products and services. Chevron Corporation is able to do this because of their “OEMS”, which they call their operational excellence. Their operational excellence management system is used in order for the corporation to address all areas of their production and services including risks, causes of incidents, the environment, and their assets.
Their approach makes them unique in that they are able to focus on a complex amount of concerns through just four objectives. The four focuses help determine and maintain expectations and requirements. They are: (1) reducing the risk of incidents, (2) Improving performance, (3) Assuring compliance, and (4) Preparing for potential emergencies. These four focuses are what helped shape Chevron as a lead provider in the field. Chevron’s OEMS is what makes their products so unique and successful.
Unique Marketing Strengths
Some unique marketing strength that Chevron offers is their Fuel Your School Program. How the Fuel Your School program works currently was during the month of October, whenever you fuel up with 8 or more gallons at a participating Chevron station, Chevron will donate $1 to support public education projects in communities across the U.S. Chevron believes that effective education will nurture bright young talent for the future workforce and healthy economic growth for the country. Since the inception in 2010, Fuel Your School has funded thousands of classroom projects across the U.S. it continues to grow each year to reach additional communities.
Chevron also created a website Donorschoose.org which is an online charity that makes it easy for anyone to help students in need. To date, 250,000 public and charter schoolteachers have used Donorchoose.org to secure $184 million in books, art supplies, technology, and other resources that their students need to learn. Chevron is always staying connected to the social life.
Chevron wants people to connect with them through LinkedIn to see how somehow us are connected to Chevron in some way. These programs are few of many in which Chevron works with local communities, governments and nonprofit organizations to increase learning opportunities for students and support the social and economic strength of communities.
Works Cited “Chevron Corporation SWOT Analysis." Chevrontexaco Corporation SWOT Analysis (2013): 1-10. Business Source Premier. Web. 4 Nov. 2013.
"The Power of Human Energy." Chevron Corporation Home. N.p., n.d. Web. 04 Nov. 2013. "Chevron Corporation SWOT Analysis." Chevrontexaco Corporation SWOT Analysis (2013): 1-10. Business Source Premier. Web. 4 Nov. 2013.