Rank: 3 (Previous rank: 3)
Compare tool: Chevron vs. Top 10
CEO: David J. O'Reilly
Address: 6001 Bollinger Canyon Rd.
San Ramon, CA 94583
Chevron's oil-and-gas production declined in both 2007 and 2008. CEO David O'Reilly thinks 2009 is the year to pull out all the stops to get production growing again -- spending $23 billion this year on drilling new oil fields and expanding refineries.
No, this doesn't make much sense to us either, given that energy prices have cratered. In fact, OPEC is cutting production in response to the sharp demand declines. But O'Reilly evidently knows something about the direction of oil prices that OPEC does not. - J.B.
Industry: Petroleum Refining
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