Logos Quiz Level 3-76 Answers
Chevron is an energy company based in San Ramon, California. Chevron was created when Standard Oil was broken up by the federal government. Standard Oil was prosecuted under the Sherman Antitrust Act for it use of intimidation tactics to curtail competitors in the oil business. Standard Oil had bought nearly all refineries in the United States, which allowed them to bully competitors out of business. This resulted in the company being broken into many companies basically by state. Chevron was known as Standard Oil California. They changed their name to Standard, then Chevron to allow the company to spread outside of California. Chevron discovered the largest oil field in the work in 1933, Ghawar in Saudi Arabia. This allowed the company to grow immensely over the next 50 years.
Chevron and Gulf merged in 1984. To avoid being sued under the Sherman Antitrust act again, Chevron had to sell many of Gulf’s subsidiaries and stations. This year would also be the year that the company officially changed their name to Chevron. In 2000, Chevron acquired Texaco.
Today, Chevron employs over 60,000, approximately half of whom are employed within the U.S. The company is present in over 180 countries around the world and is regularly on the Fortune Global 500. It brings in over $200 billion a year in revenue.