Chevron Selling San Ramon HQ, To Help Workers Relocate To TX: Reports

SAN RAMON, CA — Chevron is reportedly selling its headquarters property in San Ramon and offering to help workers with moving costs to Texas.

The oil giant, which has kept its global headquarters at its Chevron Park campus for two decades, said it was looking for a smaller space to lease in San Ramon and expected to move from its existing headquarters late next year, The Wall Street Journal reported. It will remain based in California.

Chevron occupies the former Enron headquarters building in Houston, where it employs nearly 6,000 workers.

“The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,” the company said, according to the Houston Chronicle. “Chevron will remain headquartered in California, where the company has a 140-year history and operations and partnerships throughout the state.”

Chevron's pending move comes after other major companies have made similar moves. McKesson and Charles Schwab both moved their headquarters from San Francisco to Texas, which has cheaper property and no personal income tax.

California lawmakers in 2019 considered a 10 percent oil and natural gas severance tax. Collected revenue under the proposal would be deposited into the state general fund.

Chevron's roots in the San Francisco area date to at least 1879.

"Chevron's earliest predecessor, Pacific Coast Oil Co., was incorporated in 1879 in San Francisco," the company said on its website. "The first logo contained the company name against a backdrop of wooden derricks set among the Santa Susana Mountains that loomed over Pico Canyon. This was the site of the company's Pico No. 4 field, California's earliest commercial oil discovery."