Chevron Realigns Its Gas and Midstream Organization

  Chevron Realigns Its Gas and Midstream Organization

   Company consolidates supply and trading functions into single supply and
       trading services operation within Gas and Midstream organization

Business Wire

SAN RAMON, Calif. -- January 31, 2013

Chevron Corporation (NYSE: CVX) said  today that it will realign its Gas and
Midstream business by consolidating the company’s supply and trading functions
into a single supply and trading group within Chevron’s Gas and Midstream

Until now, Chevron’s Downstream organization oversaw the company’s trading
operations for crude oil and refined products, while the company’s Gas and
Midstream business was responsible for Chevron’s natural gas and liquefied
natural gas trading operations.

“These changes will more tightly integrate our supply and trading activities
and allow our Gas and Midstream organization to create value across our
upstream and downstream assets,” said Chevron Chairman and CEO John Watson.

Watson said that Joseph C. (Joe) Geagea, 53, will lead the new organization
and retain his title as corporate vice president and president, Chevron Gas
and Midstream. In addition to supply and trading, Geagea will continue to be
responsible for the company’s shipping, pipeline, power and gas
commercialization operations. Geagea will report to Watson in his expanded
role effective immediately. The new Gas and Midstream organization will be
effective June 1, 2013.

“Joe’s enterprise-wide experience makes him well qualified to lead this
organization,” added Watson.

Geagea joined Chevron in 1982. Since the early 1990s, he has held a variety of
executive and management positions in both the upstream and downstream
operations of the company. Previously, Geagea was managing director, Chevron
Asia South Ltd., Chevron Asia Pacific Exploration and Production Company.
Earlier, he was vice president, Upstream Capability, Chevron International
Exploration and Production Company. He also served as president of Fuel &
Marine Marketing and as president of the company’s downstream operations in
East Africa, the Middle East and Pakistan. Following the Chevron and Texaco
merger in 2001, Geagea led the integration of the two companies’ downstream

Chevron is one of the world’s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for, produces
and transports crude oil and natural gas; refines, markets and distributes
transportation fuels and lubricants; manufactures and sells petrochemical
products; generates power and produces geothermal energy; provides energy
efficiency solutions; and develops the energy resources of the future,
including biofuels. Chevron is based in San Ramon, Calif. More information
about Chevron is available at

Cautionary Statement Relevant to Forward-Looking Information for the Purpose
of “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of

Some of the items discussed in this press release are forward-looking
statements about Chevron Corporation. Words such as "anticipates," "expects,"
"intends," "plans," "targets," "forecasts, " "projects," "believes," "seeks,"
"schedules, " "estimates," "budgets," "outlook" and similar expressions are
intended to identify such forward-looking statements. The statements are based
upon management's current expectations, estimates and projections; are not
guarantees of future performance; and are subject to certain risks,
uncertainties and other factors, some of which are beyond the company's
control and are difficult to predict. Among the important factors that could
cause actual results to differ materially from those in the forward-looking
statements are changes in prices of, demand for and supply of crude oil and
natural gas; actions of competitors; the inability or failure of the company’s
joint-venture partners to fund their share of operations and development
activities; the potential failure to achieve expected net production from
existing and future crude oil and natural gas development projects; potential
delays in the development, construction or start-up of planned projects; the
potential disruption or interruption of the company’s net production or
manufacturing facilities or delivery/transportation networks due to war,
accidents, political events, civil unrest, or severe weather;
government-mandated sales, divestitures, recapitalizations, industry-specific
taxes and changes in fiscal terms or restrictions on scope of company
operations; foreign currency movements compared with the U.S. dollar; and
general economic and political conditions. The reader should not place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Unless legally required, Chevron undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.


Chevron Corporation
Gareth Johnstone, +1-925-487-1306
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