Chevron Relocates Headquarters to Texas, Citing California’s Increasing Regulations and Business Challenges After Over a Century.

Chevron, the second-largest oil company in the country, has announced it will relocate its corporate headquarters from California to Texas due to increasing regulations in the state. This move joins Tesla in the exodus of companies complaining of tight regulations in California. The move, seen as a significant departure from California after over a century of being based there, could signal a decline in state business policies. Chevron, which has roughly 2,000 employees in San Ramon, California and runs the state’s second- and third-largest refineries, produces 30 percent of the state’s refined petroleum products. The company’s president of Americas products, Andy Walz, said that a proposal by Richmond to put a $1-per-barrel tax on refined products, consideration of a profit cap on refineries and potential lawsuits against major oil companies were putting a death knell for Chevron’s time in California as regulations increase.