Chevron Relocates HQ to Houston Over 5 Years

Chevron announced it will relocate its headquarters from San Ramon, California, to Houston, Texas, over the next five years, with senior leaders moving by the end of 2024. The move follows years of disputes with California over strict environmental regulations and costly policies, which Chevron claims have made the state a difficult place to do business. CEO Mike Wirth stated that the relocation is motivated by the desire to be closer to the core of the oil industry and not driven by politics. While corporate functions will transition to Houston, positions supporting California operations will remain in San Ramon. The announcement coincides with Chevron's disappointing second-quarter earnings and is part of a broader trend of companies moving from California to Texas. Texas Governor Greg Abbott welcomed Chevron, while California officials viewed the move as a predictable outcome of ongoing tensions.