positioning chevron to win in any environment
Building strength for the future starts with a focused, no-excuses mindset. It requires us to anticipate and be proactive — so no matter what market conditions we face or what regulatory and operating environments we confront, we can overcome obstacles and deliver industry-leading results. Our strategy focuses on five elements that differentiate Chevron from its competitors:
- an advantaged portfolio
- resilience to price downside
- commitment to capital discipline
- a superior capacity to return cash to shareholders
- sustainable value creation for stakeholders
our sources of competitive advantage
We leverage nearly a century and a half of expertise to navigate global markets, thrive in diverse economies and cultures, operate in complex regulatory environments, and develop new energy solutions.
we put people at the center of everything we do
lead director: one-on-one
Chevron’s corporate secretary Mary Francis sits down with Chevron’s lead independent director Ronald Sugar as he shares his insights on current events and topics that are top of mind for investors.
Francis: Chevron now ties executive compensation to specific greenhouse gas intensity reduction metrics. What prompted this change, and when will we know if it has been effective?
Francis: What was the Board’s response to the company’s fourth quarter 2019 impairments and write-down?
Francis: Forecasts indicate the low-price environment is likely to continue for the foreseeable future. How does the Board ensure Chevron’s strategy will deliver value through a challenged business cycle?
Delivering value through safe and reliable performance
Process safety includes risk analysis, engineering and the practices that help us manage the integrity of our operating systems. In fact, nearly three-quarters of our workforce is dedicated to designing, constructing, operating and maintaining our equipment to safely and reliably provide energy to customers.
Why does process safety matter?
Sustaining a high level of process safety protects our workforce, the community and the environment. We measure our progress by the presence of effective safeguards, which in turn leads to fewer incidents. In building better safeguards over the last decade, we have significantly reduced the number of incidents, even as our portfolio has become more complex.
As we strive to improve continually in process safety, we benefit by viewing our business from an “asset class” approach: similar types of assets should have similar safeguards to prevent similar incidents. While much of our business is organized geographically, we increasingly look at subsets of our business on a more global basis, with support teams set up to help monitor performance and drive best practices across operations. We benchmark performance against our competitors and freely share process safety practices as we collectively strive to eliminate losses of containment in our industry.
Chevron’s commitment to process safety extends beyond our company. We actively participate in several leading efforts to improve safety performance in the industry. We adopt practices from others, collaborate on the development of industry standards and practices, and continue to increase effectiveness of safeguards. Our chemical plants are certified in the American Chemistry Council’s Responsible Care* program for safety, environment and process safety management. We also validated our Operational Excellence Management System design against Center for Chemical Process Safety guidance on Risk Based Process Safety, and our effectiveness against their Vision 20/20 industry tenets.
*Responsible Care is a federally registered service mark of the American Chemistry Council, Inc.