Chevron Corp (CVX.N) wants to move its global headquarters to another rented space in California and sell its current administrative centre in the area, an organisation representative told Reuters on Friday.
The organisation said in an email that the way the housing market is going gives them the chance to figure out how much office space they need to meet the needs of their central command-based workers.
In the second-to-last quarter of 2023, Chevron is supposed to move its central command to the new location.
The Wall Street Journal reported earlier in the day that the U.S. oil company will also pay employees’ moving costs if they decide to move to its Texas headquarters.
The second largest oil company in the United States has its North American upstream operations based in Houston, Texas.
In January, rival Exxon also moved its corporate headquarters from Irving, Texas, to a site north of Houston.
