Chevron Corporation will move its headquarters from San Ramon, California, to Houston before the end of the year, the company said Friday.
Chevron is the latest company to leave California for Texas seeking a laxer, more business-friendly regulatory environment. Last month, Elon Musk said he’ll move X and SpaceX to Texas because California Gov. Gavin Newsom signed several laws expanding protections for LGBTQ+ students.
The relocation comes after California sued Chevron and other oil companies last year for downplaying the effects of climate change for decades. California has seen extreme heat waves and a rise in wildfires in recent years.
Chevron said in a press release the move will allow better collaboration between its executives, partners and employees. The oil company already has roughly 7,000 employees in the Houston area. It expects all corporate functions to relocate to Houston over the next five years.
ExxonMobil also moved its headquarters to Houston from Irving, near Dallas, last year.
Texas’ oil and gas production saw surges in crude oil production last year even as the federal government tightened its environmental regulations. The state produced more than 2 million oil barrels and supplied 42% of the nation’s oil last year, according to U.S. Energy Information Administration data.
Texas Gov. Greg Abbott celebrated the move on X, calling Texas Chevron’s “true home.”
“Drill baby drill,” he wrote.
The full program is now LIVE for the 2024 Texas Tribune Festival, happening Sept. 5–7 in downtown Austin. Explore the program featuring more than 100 unforgettable conversations on topics covering education, the economy, Texas and national politics, criminal justice, the border, the 2024 elections and so much more. See the full program.
