Chevron Corp. Jun 08
- ID: 1887203
- June 2008
- Standard & Poors
Massive, highly diversified, and vertically integrated oil and gas operations; Highly profitable upstream operations; Minimal financial risk; Strong project management and technological know-how; and Good recent exploration successes. High finding and development costs; Exposure to a volatile and highly cyclical industry; Political risk related to operations in non-OECD countries, which constitute roughly 60% of production; Operations that are more capital intensive than those of peers; and Downstream profitability that lags that of peers. The ratings on Chevron Corp. reflect the company's standing as one of the world's five largest privately held, vertically integrated oil and gas corporations. Its massive, highly profitable, and internationally diverse upstream operations; meaningful downstream and chemicals operations; and conservative fiscal policies underscore the ratings. These strengths...
Companies mentioned in this report are:
- Chevron Corp.
- Chevron Capital USA Inc.
- Unocal Corp.
- Chevron Corp. Profit Sharing/Savings Plan Trust Fund
- Chevron Phillips Chemical Co. LLC
- Pure Resources Inc.
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Research Type: Full Analysis