Home News Chevron will sell vast San Ramon headquarters, move jobs to Texas

Chevron will sell vast San Ramon headquarters, move jobs to Texas

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San Ramon — Chevron plans to sell its vast headquarters campus in San Ramon and move to Texas. This is a move that could have a new impact on the Bay Area economy.

Energy giants said some employees will bear the cost of moving from San Ramon to Texas, but their headquarters are in the same city of East Bay. It was not immediately clear how much work would move to Lone Star.

“Chevron plans to sell the Chevron Park campus and move it to a new modern rental space in San Ramon,” the oil giant said in a comment emailed to the press.

The specific location of the new rental space was not immediately revealed.

However, Bishop Ranch, an iconic multipurpose office, retail and restaurant business park adjacent to Chevron Park’s current headquarters, has the ability to provide tenants with modern office space.

“The current real estate market offers the opportunity to size office space appropriately to meet the requirements of our headquarters-based workforce,” says Chevron.

According to Chevron, this move is expected to occur in the third quarter of July-September 2023.

The withdrawal of prominent companies such as Hewlett Packard Enterprise, Oracle, Tesla and Parantil has hit the Bay Area economy in recent years.

HPE, Oracle, and Tesla have all moved their headquarters to Texas. Palantir has relocated its headquarters to Colorado. In all four cases, most of the work that was in the Bay Area prior to the relocation of headquarters remained in the nine county areas.

For the 12 months that ended in March, Chevron, based in San Ramon, which operates a large refinery in Richmond, earned $ 20.51 billion in revenue of $ 176.84 billion.

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