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Home > Fortune 500 Companies > Chevrontexaco Corporation.
Chevrontexaco Corporation.
Chevrontexaco Corporation is a publicly traded company having a good stock performance result. Chevrontexaco Corporation is a fortune 500 stock listed company trading under CVX. The company was established in 1879 under the name Pacific Coast Oil Corporation and later changed its name to ChevronTexaco Corporation.
They operate as an energy company worldwide. Its petroleum operations consist of exploring, developing, and producing crude oil and natural gas, refining crude oil into finished petroleum products, marketing crude oil, natural gas, and various products derived from petroleum and also they deals with transporting crude oil, natural gas, and petroleum products by pipeline, marine vessel, motor equipment, and rail car. The company, through its joint venture with Chevron Phillips Chemical Corporation manufactures petrochemicals and plastics, as well as markets chemicals products, including olefins, polyolefins, aromatics, and specialty products.
As of December 31, 2004, its oil-equivalent reserves comprised 8.2 billion barrels. It also had 21 wholly owned and affiliated refineries and approximately 25,700 retail outlets worldwide.
They reported quarterly net income of 4.1 billion dollars in the fourth quarter of 2005, compared with 3.4 billion dollars in the year ago. Earnings in the 2004 period included a special item gain of 146 million dollars related to asset sales. In 2005, net income was 14.1 billion dollars. Earnings in 2004 were 13.3 billion dollars, which included net special item gains of 1.2 billion dollars relating primarily to the disposition of no strategic upstream properties.
Sales and other operating revenues in the fourth quarter were 53 billion dollars, which was greater by 42 billion dollars from the last year. In 2005, revenues were 194 billion dollars, compared with 151 billion dollars in 2004. The increase in both comparative periods was due mainly to higher prices for crude oil, natural gas and refined products, as well as the inclusion of revenues related to former Unocal operations for the last five months of 2005.
Their success demands the highest standards of social, economic and environmental responsibility across their operations worldwide. They take pride in producing safe, reliable and affordable energy, knowing that it is critical for economic development, and helping to improve the standard of living around the world.
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