Chevron Moving Corporate Headquarters From Bay Area To Texas

SAN RAMON, CA — Chevron announced Friday that it is relocating its headquarters from San Ramon to Houston before the end of 2024. The company did not give a specific reason for the move in its news release, but numerous reports speculate it is likely due in large part to California suing Chevron and other oil companies for allegedly misleading the public on the risks posed by fossil fuels.

In March, Chevron agreed to pay more than $13 million in fines for past oil spills in California.

The move will take place over the course of five years, the company said. “There will be minimal immediate relocation impacts to other employees currently based in San Ramon,” Chevron said in a news release. “The company expects all corporate functions to migrate to Houston over the next five years. Positions in support of the company’s California operations will remain in San Ramon.”

Chairman and CEO Mike Wirth and vice chairman Mark Nelson will move with other senior leaders before the end of the year, the company said.

The company also said that the move will not affect its refinery in Richmond. The company has been moving employees to Texas for a while, and already has 7,000 employees in the Houston area, more than triple the 2,000 in San Ramon.

"Sunset Development Company has proudly supported Chevron's real estate needs at Bishop Ranch for over 40 years," said Alex Mehran Jr., president and CEO of the Bishop Ranch owner Sunset Development. "Chevron's recent relocation within Bishop Ranch represented a one-million-square-foot reduction in space and a shift from ownership to tenancy, providing them with long-term flexibility. While we are disappointed to see the headquarters leave California, we will continue to provide our highest level of support for their real estate requirements past, present and future."

Chevron has been in the Bay Area since it started as Pacific Coast Oil Company in 1879 in San Francisco. In 2001, it moved its headquarters to the 92-acre, 1.4-million-square-foot Chevron Park in San Ramon. In September 2022, Chevron sold Chevron Park, and moved its headquarters to a 400,000-square-foot office in Bishop Ranch.

Gov. Gavin Newsom’s spokesperson Alex Stack told The New York Times that he wasn’t surprised by the move. “We’re proud of California’s place as the leading creator of clean energy jobs — a critical part of our diverse, innovative, and vibrant economy,” he said.

Meanwhile, Texas Gov. Greg Abbott joyfully welcomed the move. “Welcome home Chevron!” Abbott wrote on X. “Texas is your true home. Drill baby drill.”

A number of high-profile companies have moved from California to Texas, most notably X and SpaceX in July. Tesla, Oracle, Hewlett-Packard, Charles Schwab and AECOM have also moved.

RELATED:

• X, SpaceX Will Leave CA Over New Law Surrounding LGBTQ Students: Musk
• Chevron Sells Chevron Park, Signs Lease For New Bishop Ranch HQ