Chevron : The Chevron Corporation

2062 WordsMay 19, 20169 Pages
Chevron Background Chevron is a publicly traded company on the New York Stock Exchange. Their stock symbol is CVX. Chevron is in the business of oil and gas and was founded in 1984 as the Chevron Corporation. Chevron’s headquarters is in San Ramon, California and they serve on a multinational level to over 180 countries world wide. This makes Chevron the fourth largest petroleum company in the world. In 2015 Chevron had grossed revenue of about 130 billion dollars with a net income of 4.58 billion dollars. John S. Watson currently serves as the chairman and C.E.O. of the Chevron Corporation and he also sits on the board of directors. Lawsuits Through out the years Chevron has faced a plethora of lawsuits. In 2011 they faced a controversial lawsuit when an Ecuadorian court in the Amazon Rainforest ordered Chevron to pay eight billion dollars in an environmental lawsuit. The suit came about because residents in that region of Ecuador claimed that careless drilling practices by the company Texaco which was acquired by Chevron in 2001, damaged a large portion of the rainforest and also hurt people that lived there back in the 1970’s and 1980’s. Chevron thought the ruling of the court in Ecuador was unlawful and they said they would appeal. The lawsuit originally asked for 27 billion dollars in damages. This was not enough for Chevron to make changes in their methods and practices because they were hit with another loss in a lawsuit in 2015. In 2015, a Canadian supreme court
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