Chevron Realigns Its Gas and Midstream Organization

Thu Jan 31, 2013 12:00pm EST

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Company consolidates supply and trading functions into single supply and trading
services operation within Gas and Midstream organization
SAN RAMON, Calif.--(Business Wire)--
Chevron Corporation (NYSE: CVX) saidtoday 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
organization. 

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 operations. 

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 www.chevron.com. 

Cautionary Statement Relevant to Forward-Looking Information for the Purpose of
"Safe Harbor" Provisions of the Private Securities Litigation Reform Act of
1995.

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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