Several companies are now concentrating on the principles of sustainable development with a changing outlook of the global energy for ensuring the commercial viability and the regulatory agreement. It is vital for the large trans-national companies like Chevron that the present as well as future portfolio of both industrial and commercial procedures is considered against these principles. This report will come up with the available avenues of Chevron to investigate the purposes of the environmental sustainability whereas preserving financial security, and present a discussion describing in what way these options can be streamlined against current and future energy production procedures.
1.1 Global Oil Production and Chevron.
Along with excellent workforce and the ever increasing commercial and industrial portfolio, Chevron has a market value of about $230 billion, Chevron is the second largest oil company and the third second largest oil producer (see figure 1) of western world. Almost 260,000 employees and contractors are working throughout the world in 20 countries to produce net-oil equivalents of 2.61 million barrels/ day (Chevron Exploration and Production, 2012 and 2013), it is very clear to see that the Chevron is a key operator in the non-renewable energy marketplace. .
Figure 1: Share Price, Net Income and the Production for five major oil or gas corporations (Crooks 2013). .
Moreover the complicacies of searching commercially viable deposits keep continue to rise. Chevron projects of Gulf of Mexico (at Jack and St. Malo) are working on deposit recovery at the depth of 27,000 feet (Chevron Corporate Responsibility Report, 2012). Though it is anticipated that over the coming three to four decades it will be possible to supply energy resources, still there are some complicacies related to oil exploration and extraction at such depth and such risks could bring the projects into doubt of the investment of $7.