CHEVRON INTERNATIONAL OIL CO.
RESTRUCTURED; WOERTZ, WATSON AND
MCCREA IN NEW POSITIONS
SAN FRANCISCO, Nov. 30, 1995 -- Chevron plans to realign some of its oil and petroleum products trading/marketing businesses to recognize their global nature and interdependence, which will result in new management positions for Patricia Woertz, John Watson and Peter McCrea. Chevron International Oil Co.'s (CIOC) Crude and Products Trading activities -- including the Risk and Market Evaluation functions -- will join Chevron U.S.A. (CUSA) Products Co.'s Supply and Distribution organization. While both will function under a common management structure, CIOC will retain its strong international identity.
Woertz, 42, currently president of Chevron Canada Ltd., a refining and fuels marketing company in western Canada, will be appointed to the dual role of CIOC president and a vice president of CUSA Products, Chevron's large U.S. refining and fuels marketing company. Restructuring should be complete by the end of January 1996.
"All of CIOC's businesses are well managed, with excellent people and strategic plans in place," says Vice Chairman Jim Sullivan. "But aligning them with CUSA Products and Chevron Overseas Petroleum Inc. (COPI) will take advantage of the increasingly international scope of our business."
The company expects that most CIOC employees will be moved into either CUSA Products or COPI, the corporation's international oil production and exploration subsidiary. For those whose primary responsibility is the support of CIOC-wide services, continued employment will be determined by the business needs of the two operating companies, or through opportunities for redeployment elsewhere in Chevron.
CIOC's Marine Fuels operation also will be part of the new trading organization. These realignments are designed to better integrate Chevron's U.S. and international trading activities. With Woertz leading this function, John Watson, 39, currently general manager of Strategic Planning and Quality for CUSA Products, will succeed her as president of Chevron Canada.
CIOC's Marine and International lubricants groups will be combined with the Lubricants division of Chevron Products Marketing, adding focus, strength and resources to an already growing business. CIOC's Technology Marketing group also will join the division. Peter McCrea, 56, a vice president of CUSA Products, will assume responsibility for Global Lubricants and Technology Marketing, reporting directly to President Dave O'Reilly.
CIOC's Aviation Fuels will join Chevron Products' Aviation Marketing group. The two already share customers and accounting and credit services.
Other CIOC business units will be combined with elements of COPI. CIOC is currently marketing COPI's share of the Australian Northwest Shelf liquefied natural gas (LNG) production; transferring LNG Marketing directly to COPI will focus and strengthen the ongoing business. CIOC's International Technical Services and Business Development employees -- many of whom are involved in oil and gas production projects -- also will join San Ramon-based COPI.
Updated: November 1995