what's the deal with all of the chatter about HQ moving to Houston? is it just the usual rumors that come up every couple of years? Given that we were originally Standard Oil of California, wouldn't we maintain SR as HQ?
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running away from the forest fires before it destroy our SR office?
lol there’s also big pharma and tech in the bay area which get just as villianized. i can proudly talk about my job and why society needs reliable, affordable, cleaner energy.
Man, California hates big oil.
Have you ever been there? In Texas you walk around, tell people where you work and are proud of it. In California you shut up when people ask about where you work. They think you are the devil and you single handily created climate change.
They tax the He!! out of oil. If you want to buy a gallon of gas there, it's like $5/gallon vs $3 in Houston.
Lots of Californians have made the move to Texas. Some leave the family behind and fly back monthly. Others rent the house out and come back when they can or when they retire. Not a big deal.
As a SR based employee, I have no interest in moving to Houston. Just a personal preference for California weather, politics, lifestyle. I understand that folks who are already there would be fine with a HQ move to Houston. To each their own. Curious to hear what are the opinions of other SR based employees.
@5wfo, Houston and the State of Texas is actually the headquarters for several Fortune 500 firms. Your impression of Houston as a “dump” is your own, but not everyone’s. Besides your impression of the city or of Southern States, a company’s impression of their headquarters location is centered only on its own interests, benefits, taxes, and bottom line. It seems evident as the years go by, that California is becoming less and less of a hospitable place for businesses to thrive. I’m pretty sure it’s a matter of time where Chevron will leave California. Hopefully the move will be to Dallas or Houston.
If you have been to Houston, Midland or most areas of the South its actually a dump. Trash is absolutely everywhere. The driving is ridiculously aggressive. Thats especially true of the pick up truck drivers (country boys). The crime rate is high across the South. California definitely has its issues as well with the extremely expensive cost of living but Texas in many cases in closer to a 3rd world country but the people belive its paradise.
The move to Houston should of happened awhile back if they were smart, but clearly not.
Execs don't want to leave their beloved Bohemian Club of SF behind. Sure they could bake it the The Grove once a year but now it's a party every month.
@2akv+1dDXTpJY Spot on.
The only reason Chevron maintains SR is because the only people working there now are $$$$$ executives who can well afford the sky-high California real estate and taxes, and their wives would be inconvenienced to move to Houston. There's no business reason at all to remain in California.
Or they could make us our own campus ExxonMobil or P66 style! :D
It time for some amenities, like a field and more! The Houston office i believe only has a gym, but also in a good spot of downtown!
Anadarko left some beautiful buildings in the woodlands.
I can confirm the ABU are getting 1.5 factor on PMP due to earnings.
It's moving to the ABU. Wheastone and Gorgon are the money makers.
Please move Chevron HQ to Houston, Mr. Mike! If you are reading this Mr. Mike, please move it!
Um, nobody mentioned state tax savings because they are not significant. What would be significant is the 9% California personal income tax savings to all the employees and executives.
don't oversell the state tax savings. California sales and property factors would remain substantial even if we moved all current SR employees to Houston. Two refineries and our SJV assets will keep property factor high as would retail sales in CA.
I think the cost of living argument and the industry support (including pool of employees w/ industry experience) are better arguments for consolidating in Houston.
The "wokeness" of California politics is just background noise
Chevron has no reason to move its HQ from California unless the enterprise is in serious trouble of existing profitably. Of course, we all know that California’s wokeness and it’s nonsensical approach to environmental law and unfounded climate change theory is setting the stage for Chevron to leave the State. If it is forced to exit California, the logistical place will be Texas, by relocating the headquarters to Dallas or Houston.
I agree with this, as someone who is in Houston and has been to numerous oil and gas headquarters, it's a no brainer for them to move down here.
They can make a bigger campus than the one in California for way cheaper, other Oil and Gas companies have done it already. ExxonMobil and P66 for example, built a huge campus in Houston and added a sh-t ton of amenities.
tax reasons
whatever is beneficial to the coy, shareholders and stock option holders
MW will only approve the move if it will save money on office space, state taxes, headcount, labor cost or something else. He will be skeptical of synergy of having everyone together. The California refineries sort of need local exec support as they are under constant attack and a Texas owner would only make that worse. One option they are considering is moving all but about 300 people including the execs, sort of like when the minions moved to SR but the chiefs stayed in SF.
I can tell you that Bishop Ranch monthly rent runs about $3.5/sq ft while downtown Houston is about $1.5/sq ft. 1400 Louisiana would rent for about $20 million per year while the same space in San Ramon would be about $50 million. Enough savings to move?
Keeping California as the HQ makes no sense.
Exxon used to be Standard Oil of New York and Mobil used to be Standard Oil of New Jersey. In late 90’s OR early 2000’s they decided to move the HQ from Rockefeller Center in NYC to Texas. Recently they built a massive state of the art campus in Woodlands and moved 10000 folks from Virginia. It’s a no brainer to be in TX if you are an oil/energy company.
An oil company headquartered in California. That’s stoopid.
Hi, OP
Any source of this happening?
@vvn+1dDXTpJY Texas is great for business but is pretty rough for workers with few rights and the state is very dirty. California is no paradise but man Texas is a rough place.
Houston and the rest of Texas is a dump. Real innovation and talent is in California.
If Elon can move Tesla from California to Texas, then why not Chevron. Anyone with half a brain knows Texas is a much better business environment than California. Duh!