Chevron Corp is planning to relocate its global headquarters to a newly leased space in California and sell its existing head office in the state.
Chevron is expected to shift its headquarters to the new site during the third quarter of 2023.
The company will also cover moving costs for employees who opt to shift to its Texas campus.
The second-largest U.S oil producer’s North American upstream operations are based out of Houston, Texas.
Rival Exxon in January also relocated its corporate headquarters from Irving, Texas to its campus north of Houston.