Kurtis Kubala
Chris Sowa
Marshall Kilian
ChevronTexaco Role Profile
Chairman and CEO: David O’Reilly
My name is David O’Reilly. I have been Chairman of the Board and Chief Executive Officer of ChevronTexaco (CVX) since the completion of the merger between Chevron and Texaco in October 2001 and, prior to the merger, I held the same positions with Chevron since January 2000. I earned my bachelors degree in Chemical Engineering from UniversityCollege,DublinCollege, Dublin, from where I also received an honorary doctor of science degree in June 2002... My other prior positions include Vice-Chairman of the Board of Chevron (1998-99), Vice-President of Chevron (1991-98), President of Chevron Products Company (1994-98), Director of Caltex Petroleum Corporation (1992-94), and also Senior Vice-President and Chief Operating Officer of Chevron Chemical Company (1989-91). Some of my other directorships include: American Petroleum Institute (treasurer), San Francisco Symphony Board of Governors, and Bay Area Council. My memberships include: The Business Council, The Business Roundtable, JPMorgan International Council, the American Society of Corporate Executives and National Petroleum Council.
Standard Oil Company (California) was formed in 1906 when the assets of Pacific Coast Oil were combined with the West Coast operations of the original Standard Oil Company. The United States Supreme Court decision that broke up John D. Rockefeller's Standard Oil into 34 independent companies; as a result, the Standard Oil Company (California) became an autonomous entity in 1911. In July of 2000, Chevron and Phillips Petroleum Co. formed a 50-50 joint venture, which was called Chevron Phillips Chemical Co. LLC. We continued under that name until October of 2001, when the name was changed to ChevronTexaco Corporation, after the merger with Texaco, Inc.
ChevronTexaco has a presence in more than 180 countries. We are the #2 US integrated oil company with proven reserves of 11.5 billion barrels of oil equivalent and daily production of 2.7 million barrels of oil equivalent. Our brands include Chevron, Texaco, and Caltex, which was formerly a Chevron and Texaco joint venture. Our businesses extend beyond producing and refining, with a chemicals venture, Chevron Phillips Chemical Company, an interest in Dynegy Inc., and equity interests in 47 power projects worldwide. With this venture, we hold 26.5% common equity interest in Dynegy Inc. (DYN; a gas gatherer, processor, transporter and marketer); power and gasification ventures; technology investments; as well as real estate and insurance activities.
Chevron formed a 50-50 joint venture with Tengizmunaigaz, a subsidiary of Kazakhstanmunaigaz, the national oil company of the Republic of Kazakhstan to develop their oil fields northeast of the Caspian Sea. This venture affiliate (Tengizchevroil) began operations in April 1993, adding net proven reserves to ChevronTexaco of 1.1 billion barrels of crude oil and natural gas liquids and 1.5 trillion cubic feet of natural gas. The current production has averaged about 30,000 barrels per day, which is approximately 46 percent of the rated crude oil production capacity of 65,000 barrels per day. I am currently facilitating the negotiations of a pipeline that will carry oil from the oilfields in Dazakhstan to Tengizchevroil, Russia. Tengiz crude oil production is exchanged for Russian crude that is then exported from Russia to world markets.
We are also looking to the future through the development and commercialization of several advanced energy technologies such as fuel cells, hydrogen storage, and gas-to-liquids. Our latest venture is a multi-year joint technology development project with Schlumberger to increase efficiencies in oil and natural gas production. By April 2003, I expect CVX to realize annual pretax savings of about $2.2 billion through operating efficiencies and the elimination of redundant operations.