The BusinessWeek 50 Ranking
3
ChevronTexaco
The nation's second-largest oil producer has never been more profitable. Net income in the past year leaped 77%. Harder to come by was growth in oil and gas production, which dipped 4.8%, to 2.5 million barrels per day, due to damage from Hurricane Ivan, normal production declines in some fields, and sales of less profitable wells. The San Ramon (Calif.) company is trying to build facilities to import liquefied natural gas in several locations, and will boost overall capital expenditures 18% this year, to $10 billion. But O'Reilly also may choose to expand via a major acquisition.
Company Info
| 2004 Rank | 14 |
| STOCK INFO | CVX |
| Market Value | $131.5 BILLION |
| Total Return | (1-yr.) 44.8%
(3-yr.) 63.5% |
| 2004 sales | $142.9 BILLION |
| Sales Growth | (1-yr.) 27%
(3-yr.) 14.3% |
| Net income | $13 BILLION |
| Net Income Growth | (1-yr.) 77%
(3-yr.) 72.8% |
| Net Margin* | 9.1% |
| Return on Equity* | 28.8% |
| Industry | ENERGY |
| CORPORATE WEB SITE | |
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*Trailing 12 months
Company data as of 2/28/05 provided by Standard & Poor's Compustat
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Company Snapshot
ChevronTexaco Corporation, an investment holding company, engages in petroleum, chemicals, and coal mining operations. The petroleum operations consist of exploring for, 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 transporting crude oil, natural gas, and petroleum products by pipeline, marine vessel, motor equipment, and rail car. Its chemicals operations include the manufacture and marketing of commodity petrochemicals for industrial uses; and the manufacture and marketing of fuel and lubricating oil additives. The company’s coal mining operations involve the ownership and operation of two surface mines, McKinley, in New Mexico, and Kemmerer, in Wyoming, as well as one underground mine, North River, in Alabama. ChevronTexaco also owns an approximate 25% equity interest in Dynegy, Inc., an energy provider engaged in power generation, gathering, and processing of natural gas, and the fractionation, storage, transportation, and marketing of natural gas liquids. The company has operations in North America, South America, Europe, Africa, the Middle East, central and far east Asia, and Australia. ChevronTexaco was incorporated in 1926 under the name Standard Oil Company of California and changed its name to Chevron Corporation in 1984, and then to ChevronTexaco Corporation in 2001. The company is based in San Ramon, California.
No. of Employees
56,000
Data provided by 
