Chevron said Friday it would relocate its headquarters to Texas from California, continuing an exodus of oil companies from the state due to higher taxes, stricter climate regulations and depleting oil fields.
CEO Michael Wirth and Vice Chairman Mark Nelson will move to Houston before the end of 2024, the company said.
The company currently has roughly 7,000 employees in the Houston area and about 2,000 employees in San Ramon.
Chevron is the second-largest direct descendant of Standard Oil, the giant trust founded in 1870 by John D. Rockefeller.
Source: timesofsandiego.com
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