(Bloomberg) -- Chevron Corp. is relocating headquarters to Houston from California after repeatedly warning that the Golden State’s regulatory regime was...
-- Chevron Corp. is relocating headquarters to Houston from California after repeatedly warning that the Golden State’s regulatory regime was making it a tough place to do business.While ‘Pod Save America’ Tries to Unite Democrats, Its Staff RebelsThe move announced Friday will end the company’s more than 140 years of being based in the largest US state and comes amid a shake-up in senior leadership ranks apparently aimed at improving results.
The leadership changes come just months after former Chief Financial Officer Pierre Breber issued a stern warning to employees to improve performance and results. The rebuke followed a year of dismal results stemming from refinery disruptions, weaker-than-expected oil production in the Permian Basin, and cost overruns and delays at a massive project in Kazakhstan.Second-quarter adjusted earnings per share of $2.55 were 38 cents below the median estimate among analysts surveyed by Bloomberg.
In the meantime, Wirth is trying to make the case that Chevron has a strong investment case on a standalone basis. The company is aiming for 3% production growth annually through 2027 while it plans to buy back $20 billion of stock annually and recently increased its dividend. Dublin, Aug. 02, 2024 -- The "Alcoholic Drinks in Hong Kong, China" report has been added to ResearchAndMarkets.com's offering.Alcoholic drinks in Hong Kong continued to record a positive performance in 2023 via both on-trade and off-trade channels, yet the expected pace of recovery lagged compared to the previous year's estimates, impacted by a sluggish local economy.
Chevron Mike Wirth Nigel Hearne
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