John Stumpf, who “retired” last week from his position as CEO of Wells Fargo due to the company’s fake account scandal, is also taking the opportunity to “retire” from board seats. Oil company Chevron and retailer Target announced today in filings with the Securities and Exchange Commission that Stumpf would be stepping down from their respective boards, both of which he joined in 2010. [More]
Mobile payment at the gas pump using NFC technology like Apple Pay, Samsung Pay, or Android Pay? What is this technological wizardry? Yes, Chevron is starting to experiment with making the hottest technology of 2014 available at the pumps in its gas stations, starting with 20 stations in California. [More]
Last week, an explosion at a Chevron natural gas fracking operation in northwestern Pennsylvania resulted in a fire that lasted for days and may have cost one rig worker his life. Let’s not forget the environmental damage and other possibly hazardous longterm effects. If you were a mammoth oil company like Chevron, how would you appease the local citizenry? By providing them pizza coupons, of course. [More]
The owner of a Chevron gas station and convenience store in Georgia says that when she called the cops to handle an allegedly rude and unruly customer, things got turned around on her and she ended up being the one in cuffs — all because she couldn’t figure out how to operate the security camera system.
This year’s Fortune 500 list is out, and while Walmart’s $421 billion in revenue may have beaten out Exxon Mobil’s paltry $354 billion, the oil giant beat out Big W where it matters most, profits. According to Fortune, the crude colossus made a whopping $30.4 billion in profits last year, nearly double what Walmart made and over $10.5 billion more than the next most profitable company on the list.
With over $408 billion in revenue, Walmart has regained the coveted top spot on the annual Fortune 500 list. The mega retailer had slipped to #2 behind Exxon Mobil on last year’s list after two consecutive #1 years in 2007 and 2008.
3 years ago, an oil depot owned by Chevron and Total exploded, ruining Ian Silverstein’s house and destroying everything inside. It was Britain’s largest peacetime explosion and he’s lucky to be alive. To date, he has not received a dime in compensation. So he can get his story out there and put pressure on the unresponsive oil companies, a documentary about his story is set to launch December 11, 2008.
It’s not only the customer who is taking a hit from high gas prices, some gas stations’ profits are being entirely mitigated by credit card interchange fees. The AP reports that gas station manager Roger Randolph was fed up with losing money on credit card fees. His solution was to place new signs on his Chevron gas pumps that read “No more credit cards.” Details, inside…
Here’s a bad idea. Please don’t protest high gas prices by setting fire to a Chevron station, an Arco station, and a Starbucks. Meet Diane Craig, 64, of Danville, California. She’s accused of using “fireplace logs” to try to start fires inside the restrooms of the two gas stations and a Starbucks.
In one of the largest oil finds in several decades, Chevron successfully ran a test-well in the Gulf of Mexico into a reserve with the potential for 3-15 billion barrels. The drilling opened up new possibilities for ultra-deepwater offshore drilling, but don’t expect it to affect pump price anytime soon. The first drop won’t hit markets until 2012, experts say.