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Chevron Corp. Jun 08 Product Image

Chevron Corp. Jun 08

  • ID: 1887203
  • June 2008
  • Standard & Poors

FEATURED COMPANIES

  • Chevron Capital USA Inc.
  • Chevron Corp.
  • Pure Resources Inc.
  • Unocal Corp.
  • MORE

Abstract
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.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- 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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