The main purpose of the association is to lobby the Company on behalf of members
to resolve pension issues. Apart from that we monitor pension legislation and developments,
maintain contact with similar organisations and keep members informed via this site
and a bi-
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How to join
If you are or have been employed by Gulf, Texaco, Caltex, or Chevron and receive or will receive a Chevron pension in the UK, or you are a surviving spouse, you are eligible to join the Association.
We invite any Gulf, Texaco, Caltex UK, Caltex Overseas, or Chevron employee or ex employee or spouse of any of the former interested in the issues and topics we focus our efforts on to join. The more members we have the louder our voice.
Chevron company news
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Chevron Announces Common Share Repurchases
SAN RAMON, Calif., October 4, 2010 – Chevron Corporation (NYSE:CVX) announced today that it would begin purchases of its common stock in the fourth quarter 2010 under an ongoing share repurchase program approved by the Board of Directors and communicated previously.
Chief Financial Officer Pat Yarrington commented, "Our sole focus in deploying cash is to create value for our shareholders. We focus on sustaining and growing the dividend, funding our leading project queue, maintaining a strong balance sheet and returning cash to shareholders through share repurchases. Initiating repurchases at this time is evidence of our ongoing capital discipline and strong cash flows, including from newly developed oil and gas projects. We are targeting a repurchase rate of $500 million to $1 billion a quarter."
Deepwater Drilling Begins Offshore United Kingdom
The company this month started drilling the Lagavulin exploration well (217/15-
The P1196 license is operated by Chevron (60 percent working interest), with co-
Drilling started Oct. 4 by the Stena Carron drillship in 5,142 feet (1,567 m) of
water. The well will target a number of potential oil bearing reservoirs in the pre-
This will be the first of a multi-
"We have done intensive work to ensure that our preparations for this campaign are rigorous and satisfy all the requirements of the permitting process," said Chevron Upstream Europe Managing Director Rick Cohagan. "We recognize that we have an obligation to the U.K. public to ensure that vital energy resources are produced safely, reliably and without environmental harm. We also believe that responsible drilling is an essential element of oil and gas exploration, appraisal and development."
Chevron Agrees Sale of UK/Ireland Downstream Businesses
The following message was issued to all Chevron Downstream Europe employees on March 11, 2011.
This morning Chevron signed an agreement to sell Chevron Limited, the entity which
holds Pembroke Refinery, as well as its fuel marketing and aviation business in the
United Kingdom and Ireland to a wholly-
We appreciate that the timing of this announcement, on a day when many of you are scheduled to be out of the office, is not ideal. Our commitment has always been to communicate with you as soon as a decision has been made. During the course of today, there will be a number of employee meetings and town halls in London, Swindon, Pembroke and Dublin. We will also hold additional town halls on Monday so as many employees as possible can attend a face to face meeting. The town hall presentation will also be posted on the Downstream Europe Review web page.
Valero will acquire Chevron Limited and its subsidiaries, which hold assets including
Pembroke Refinery, approximately 1,000, mainly third-
Chevron will retain its Finished and Marine lubricants and Oronite business in Europe (excluding Finished Lubricants in Spain), as well as its Aviation business in Continental Europe.
Valero is a Fortune 500 company based in San Antonio, Texas, and is the largest independent petrol refiner and marketer in North America. It owns 14 refineries in the US, Canada and the Caribbean, as well as 5,800 retail and wholesale service stations in the US, Canada and the Caribbean.
When the sale is completed, all employees assigned to the businesses being sold will either transfer to a Valero owned Group company, subject to the Transfer of Undertakings Protection of Employment (TUPE) Regulations which applies to the majority of employees, or, in the case of Ireland based employees, our apprentices at Pembroke, and also employees of Chevron Equity Services Limited at East Midlands Airport, will experience no change in the current legal entity which employs them, but their employing companies will ultimately be part of the Valero Group following closing.
We are now entering a period of transition and it is critical that we remain focused on safely meeting business targets. This is not only important from a personal safety point of view, but also to ensure the continued success of our business. Guidance will be provided to staff on the operation of the business and compliance with laws during the transition period.
I know that many of you will have questions about this announcement and we will shortly update the Q&A section of the Downstream Europe Review web page. I encourage you to visit the site. We will also share further updates throughout this transition period.
The past year has been challenging. Despite this you have remained focused and continue to do an excellent job managing operating expenses, safety, and reliability. I appreciate your hard work and dedication to the business during this time of tremendous change. Thank you for your great efforts and contributions.
The following are extracts from the supplement to the 2010 Annual Report
Corporate
Safety – Achieved the company’s safest year ever, setting new world-
Financial – Achieved the highest operating cash flows in the company’s history, at
approximately $31 billion, and a total stockholder return that led the peer group
for the previous five-
Dividends – Paid $5.7 billion in dividends with 2010 marking the 23rd consecutive year of higher annual dividend payouts. Annual average dividend growth over the period was 7 percent.
Capital and exploratory expenditures – Invested $21.8 billion in the company’s businesses, including $1.4 billion (Chevron share) of spending by affiliates. Announced 2011 projected outlays of $26.0 billion, including $2.0 billion of affiliate expenditures. Focus continues on exploration and production activities.
Stock repurchase program – Resumed the company’s common stock repurchases in the fourth quarter, acquiring $750 million of the company’s shares.
Upstream
Exploration – Achieved an exploration drilling success rate of 57 percent. Results included several natural
gas discoveries offshore western Australia. Additionally, acquired offshore exploration leases in China, Liberia,
Turkey and the United States and captured of shale gas acreage in Canada, Poland and Romania.
Production – Produced 2.763 million net oil-
over 2009, with about 75 percent of the volume outside the United States in more than 20 different countries.
Acquisition – Announced plans to acquire Atlas Energy, Inc., providing a shale gas acreage position in the
Marcellus Shale, primarily located in southwestern Pennsylvania. (Acquisition completed in February 2011.)
Major projects – Continued progress on the company’s development projects to deliver future production
growth. Achieved first production at the deepwater Perdido Regional Development Project and the Athabasca
Oil Sands Project Expansion and continued to increase production at the Tengizchevroil Sour Gas Injection/
Second Generation Plant Project in Kazakhstan. The company also reached final investment decision on a
number of major capital projects, including Jack/St. Malo, Big Foot and Tahiti 2
in the Gulf of Mexico; Papa-
Terra in Brazil; and expansion of the Caspian pipeline in Kazakhstan and Russia.
Natural gas projects – Delivered first gas from the Escravos Gas Project Phase 3A in Nigeria. In Australia,
continued construction on Barrow Island and awarded approximately $25 billion of contracts for materials and
services for the Gorgon Project. The company also executed additional binding and nonbinding agreements
with Asian customers for the delivery of liquefied natural gas from the Gorgon and Wheatstone projects.
Downstream
Refinery upgrades – Completed project start-
catalytic reformer and the Yeosu, South Korea, gas-
unit designed to further improve the El Segundo, California, refinery’s reliability,
high-
flexibility to process a range of crude slates.
Chemical – Commenced operations on the ethylene cracker and polyethylene/normal alpha olefins plants in
Qatar. Continued construction on a petrochemical project in Saudi Arabia with start-
Sale of nonstrategic assets – Sold a 23.4 percent ownership interest in Colonial Pipeline in the United States.
Additionally, concluded the sales of businesses in Malawi, Réunion and Zambia and 21 product terminals.
Chevron’s 2010 Accomplishments at a glance
Chevron Announces Quarterly Dividend
SAN RAMON, Calif., January 25, 2012
The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly
dividend of eighty-
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