Highlights of Operations
Chevron is a major investor in the Caspian Pipeline Consortium (CPC). Construction of the pipeline began in May 1999 and the first tanker was loaded with Tengiz oil at the CPC terminal at Novorossiysk in October 2001. Chevron is currently pursuing other long-term business opportunities in the Russian exploration and producing sector.
Our business development team is actively pursuing additional upstream opportunities in Russia. In 2006, Chevron signed a framework agreement with OAO Gazprom Neft to form a joint venture to explore and develop resources in western Siberia.
Through its Oronite subsidiary, Chevron has developed strong partnerships with several Russian oil companies to which it supplies fuel and lubricants additives. We also market both Texaco- and Chevron-branded lubricants through two separate distributor networks.
Through Chevron Lummus Global, several of Chevron's industry-leading technologies have been licensed to Russian oil companies. On behalf of Chevron's Energy Technology Company, our Moscow office has established semiannual symposia with the Russian Academy of Science.
Updated: March 2008