HOUSTON – (Realty News Report) – Chevron will move its corporate headquarters to Houston from San Ramon, Calif., the energy company announced Friday.
Chevron currently has 7,000 employees in the Houston area and approximately 2,000 employees in San Ramon.
The energy giant’s top leadership is expected to relocate to the firm’s downtown Houston offices shortly – before the end of the year.
Some other Chevron personnel and corporate functions will move to Houston over the next five years with many remaining employees expected to remain in California.
“Chevron Chairman and CEO, Mike Wirth, and Vice Chairman, Mark Nelson, will move to Houston before the end of 2024 to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners,” Chevron said in a press release. “There will be minimal immediate relocation impacts to other employees currently based in San Ramon. The company expects all corporate functions to migrate to Houston over the next five years. Positions in support of the company’s California operations will remain in San Ramon.”
Another one of the world’s largest energy firms, Exxon Mobil, moved its headquarters to the Houston area last year after being located in the Irving near Dallas since 1989. With the relocation of Chevron Houston fortifies its position as Energy Capital of the World.
Over 4,700 energy-related companies are located in Houston, including exploration, production, transmission, marketing, supply, and technology firms, in addition to more than 100 solar companies and 30 wind-related firms, according to the Greater Houston Partnership.
Chevron owns two office towers in downtown Houston: a 50-story building at 1400 Smith and the 40-story building at 1500 Louisiana Street.
Chevron also recently acquired 77 acres in the Bridgeland master planned community with plans for a future research campus. Bridgeland, developed by Howard Hughes Holdings, is an 11,500-acre community located about 20 miles west of the global headquarters of Exxon Mobil. In terms of new-home sales, Bridgeland ranks No. 8 in the nation, according to RCLCO.
A move to Houston, known as the Energy Capital of the World has been discussed for quite some time, as reported in Houston-based Realty News Report. Chevron has continually denied a move was being planned, even after the sale of its 92-acre San Ramon headquarters campus. “Chevron will remain headquartered in California,” a Chevron PR man said in 2022.
Aug. 2, 2024 Realty News Report Copyright 2024
Image: Chevron’s 1500 Louisiana Street tower in downtown Houston. Photo by Ralph Bivins, Realty News Report Copyright 2024.
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