Chevron, a major player in the oil and gas industry, has been actively managing cybersecurity risks, with the CISO and CIO presenting to the Board of Directors annually and providing briefings to new members. The company has not faced any significant cybersecurity incidents affecting its operations or financial condition, but acknowledges the ongoing risk of cyber incidents. In terms of environmental compliance, Chevron has been involved in several legal proceedings. The company has settled with California's BAAQMD for alleged violations at its Richmond refinery, agreeing to a $20 million civil penalty. Additionally, Chevron is negotiating resolutions for NOVs with CDFW, OSPR, and CalGEM, which could result in civil penalties of $1.0 million or more. Furthermore, Chevron is in discussions with CalGEM...Show More

Chevron, a major player in the oil and gas industry, has been actively managing cybersecurity risks, with the CISO and CIO presenting to the Board of Directors annually and providing briefings to new members. The company has not faced any significant cybersecurity incidents affecting its operations or financial condition, but acknowledges the ongoing risk of cyber incidents. In terms of environmental compliance, Chevron has been involved in several legal proceedings. The company has settled with California's BAAQMD for alleged violations at its Richmond refinery, agreeing to a $20 million civil penalty. Additionally, Chevron is negotiating resolutions for NOVs with CDFW, OSPR, and CalGEM, which could result in civil penalties of $1.0 million or more. Furthermore, Chevron is in discussions with CalGEM to settle past and present seeps in the Cymric Oil Field, which will likely increase the penalty amount. A civil lawsuit has also been filed by the Texas Commission on Environmental Quality and Harris County, Texas, regarding a fire at Chevron's Pasadena refinery, with a potential resolution involving a civil penalty of $1.0 million or more.