COMPANY PROFILE -Chevron Corporation
Business Sector :Oil and Gas
Operating Geography :United States, North America, Global
About Chevron Corporation :
Chevron Corporation is an American multinational oil and gas major headquartered in San Ramon, California. Established in 1870 as a part of its predecessor company Standard Oil; Chevron is one of the largest oil and gas companies globally with presence across the oil and gas value chain. Chevron's operations are divided into two business units: Upstream unit and Downstream unit. Upstream unit operations consist primarily of exploration, development and production of crude oil and natural gas; processing, liquefaction, transportation and regasification of liquefied natural gas; movement of crude oil by major international oil export pipelines, transportation, storage, marketing and selling of natural gas and a gas-to-liquid conversion plant. Downstream unit operations consist of refining crude oil into petroleum products, marketing and selling of crude oil and its refined products, transportation of crude oil and refined products by marine vessel unit, motor equipment and pipelines and manufacturing and marketing of commodity petrochemicals and fuel and lubricant additives. Chevron Corp comprises of 42,595 employees as of early 2023.
Chevron's USP or Unique Selling Proposition sprawls in being one of the world's largest oil companies with complete integration ranging from producing, refining, marketing, and distribution. Chevron’s mission is that “We are committed to delivering the energy that improves lives and enables human progress, within a company culture defined by trust, responsibility and integrity. Our purpose guides our aspirations, motivations and operations.” Chevron’s vision statement reads “To be the global energy company most admired for its people, partnership and performance.”
Chevron Corporation Revenue :
Total Sales and other operating revenues:
US $ 155.6 billion – FY ending 31st December 2021
US $ 94.4 billion – FY ending 31st December 2020
Competitive Analysis of Chevron Corporation
The SWOT analysis for Chevron Corporation is presented below in a matrix/nutshell followed by comprehensive analysis:
| Strengths | Weaknesses |
1. Strong global presence with projects spread across the world
2. Strong and robust brand value
3. Highly diversified product portfolio
4. Consistent annual per share dividend payout
5. Complete Integration of process
6. Leveraging technology to push energy’s frontiers
| 1. Remaining bullish with dividend pay-outs leading to inefficient financial planning
2. Highly dependent on upstream production
3. Legal Issues tarnishing brand value
4. Exposure to Chevron’s “Climate-Friendly” fuel may pose severe risk of cancer
|
| Opportunities | Threats |
1. Increasing global energy demand
2. Renewable energy market looks very promising
3. Investment in agility through digital innovation
4. Significant growth opportunities in India
5. Strategic acquisition and collaborations
6. Strong demand of LNG in Europe
| 1. High competition in the LNG segment
2. Penalties for carbon emissions
3. Economic Crisis and travel bans stemming from the novel Corona virus outbreak, resulting in tumbling oil prices
|
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Detailed SWOT Analysis of Chevron Corporation
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
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Opportunity
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Threat
1. High competition in the LNG segment: Over the past seven years, Chevron Corporation has invested billions of dollars into new liquefied natural gas plants in Australia namely, Gorgon and Wheatstone, only to bring them alive during the worst oil bust in decades. However, the anticipated demand for LNG didn’t materialize and rival LNG companies have already overcrowded the market. Chevron is facing myriad of challenges such as high labor costs, technical hang ups, plants in Australia are expected to run $20 billion over the budget and also penalties from EPA for carbon emissions, etc. Thus, there’s stiff competition in the LNG market and company has overspent its rivals on long term projects that will take years to generate returns.
2. Penalties for carbon emissions: GHG emissions-related laws, related regulations and the effects of operating in a potentially carbon-constrained environment may result in increased operational expenses to meet the standard compliance which varies from country to country. Non-compliance attracts repercussions like fine, penalty and ban measures by the government. Gorgon LNG plant project of Chevron Corporation in Western Australia which is one of the world’s largest carbon capture and storage projects, have been penalized for carbon emissions. Environmental Protection Authority (EPA) singled out Gorgon as the biggest carbon emitter amongst Australia’s 10 liquefied natural gas (LNG) plants, which have been the main driver of a rise in Australia’s carbon emissions in the past two years. However, Chevron claimed it would be the lowest emitter of any LNG project in Australia once its carbon injection project starts operating at full scale, generating around 3.4-4 million tons a year of carbon dioxide. Thus, breach of environmental benchmarks, shows the company in a negative light as being irresponsible and nonchalant towards protecting the environment.
The remaining section of “Threat” is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Chevron is presented below in a matrix format followed by a detailed analysis:
| Political | Economical |
1. Geopolitical conflicts and tensions in Middle East
2. Effect of trade regulations and sanction on business
3. Impact of Russia-Ukraine war on oil & gas
4. Increasing pressure from Biden Administration to address climate change impacting oil industry
| 1. Fluctuating crude oil prices and impact of slowdown |
| Social | Technological |
1. Consumer awareness and focus on environmentally friendly fuels
2. Investors’ pressure to venture beyond their core business
3. Level of social concerns & awareness in society
| 1. Artificial intelligence and automation in oil and gas
2. Higher adoption of IoT devices and edge computing
3. 3D virtual modelling and drone technology
|
| Legal | Environmental |
1. Protection against intellectual property infringement
2. Health and Safety in oil and gas industry
| 1. Regulation of greenhouse gas (GHG) emissions
2. Impact of adverse weather conditions
3. Initiatives for Carbon Capture and Storage (CCS)
|
On purchase the Chevron Corporation SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of Chevron Corporation
Political
This section is available only in the 'Complete Report' on purchase.
Economic
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Social
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Technological
1. Artificial intelligence and automation in oil and gas: The various potential applications for artificial intelligence and automation in the oil and gas sector are wide-ranging, from surveying and active monitoring, to planning and forecasting and improving working condition in terms of ergonomics and safety. High risk involving environments such as an offshore rig or production or drilling facility can be benefitted from the use of both artificial intelligence and autonomous system monitoring to replace human presence in such high-risk locations. Together with UiPath's robotic process automation tool, Chevron now uses Form Recognizer (part of Microsoft Azure Cognitive Services) to automate the extraction of essential data from drilling and construction reports, and transfer it to backend analysis systems.
This remaining section of “Technological” is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
On purchase the Chevron Corporation SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
WHY BUY THIS REPORT?
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
1. The SWOT and PESTLE analysis report offers a quick glimpse into the micro and macro factors formerly in a matrix/nutshell format, followed by a comprehensive analysis
2. The SWOT analysis is a convenient technique to evaluate the strength, weakness, opportunity, and threats and their reverberations on the prevailing business model of Chevron Corporation.
3. Comprehend the role of Chevron Corporation's core competencies and sources of competitive advantage that present the company with an edge over its competitors and shape its business
4. The PESTLE/ PESTEL/ STEEPL is a framework to monitor all the external factors mainly, political, economic, social, technological, legal and environmental and analyze their profound impact on the oil and gas industry and specifically on Chevron Corporation
5. Renders holistic information about Chevron Corporation’s mergers and acquisitions, strategic partnerships and alliances, capital raising, market value, market segmentation, and the synergies that were achieved with them.
6. Penetrations into Chevron Corporation’s business diversification, deriving its key business segments and elaborate upon its business case study
7. Cognizance of current trends and driving forces of the oil and gas industry and its influences on Chevron Corporation's business and market strategy.
8. A comprehensive company analysis to gain knowledge about company information, company profile, business model, business current and future plans.
9. Understanding of Chevron Corporation’s USP or unique selling proposition, mission statement, and vision statement
10. Synopsis of Chevron Corporation's business model, business case study along with a peek into the company’s key performance indicators, value proposition, and success factors
You may also be interested in other analyses of Chevron Corporation:
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| Chevron Corporation Porter's Five Forces Analysis |
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| Chevron Corporation VRIO Analysis |
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| Chevron Corporation Value Chain Analysis |
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| Chevron Corporation Covid-19 Impact Analysis |
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| Chevron Corporation BCG Analysis |
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| Chevron Corporation Segmentation, Targeting and Positioning (STP) Analysis |
|
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| Chevron Corporation Ansoff Matrix Analysis |
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References used in Chevron Corporation SWOT & PESTLE Analysis Report
1. Annual Report - https://chevroncorp.gcs-web.com/static-files/0ffa8d8e-45ba-4855-9073-acce2d09c4b7
2. Exposure to Chevron's "Climate-Friendly" Fuel May Pose Severe Risk of Cancer - https://truthout.org/articles/exposure-to-chevrons-climate-friendly-fuel-may-pose-severe-risk-of-cancer/
3. Chevron, Exxon and Total Keen to Invest in India - https://www.moneycontrol.com/news/business/chevron-exxon-and-total-keen-to-invest-in-india-9860401.html
4. With REG Acquisition, Chevron Becomes Leading US Renewable Fuel Company - https://www.chevron.com/newsroom/2022/q2/with-reg-acquisition-chevron-becomes-leading-us-renewable-fuel-company
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Chevron Corporation SWOT and PESTLE analysis has been conducted by Arwind Kumawat and reviewed by senior analysts from Barakaat Consulting.
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