Chevron to Relocate Headquarters from California to Houston by End-2024

Aug 2, 2024, 01:20 PM

Chevron Corporation has announced it will relocate its headquarters from San Ramon, California, to Houston, Texas. The move is expected to be completed by the end of 2024, with all corporate functions migrating to Houston over the next five years. Chevron cited California's regulatory regime as a key factor in the decision, stating that it made the state a tough place to do business. The company has been headquartered in California for over 140 years. This relocation follows similar moves by other companies, including SpaceX, as Texas becomes a more attractive destination for corporate headquarters. In its Q2 report, Chevron posted earnings of $2.55 per share, missing the expected $2.88 per share, and revenue of $51.2 billion, surpassing the expected $50.8 billion.