Chevron Corporation is an American multinational energy corporation. It is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation.
Engagement with the EITI
Chevron is part of the multi-stakeholder group in Norway, Philippines and the Republic of Congo. It has also been a part of the multi-stakeholder groups in Azerbaijan and the United States during their EITI implementating years.
Chevron provides guidance on the EITI process and some local financial support provided in addition to work on in-country MSGs.
Chevron is the longest continuous serving member of international EITI Board; provided financial support for the global conferences; in conjunction with the Myanmar Board meeting in October 2014, conducted joint training session for civil society representatives from southeast Asia on the basics of the oil and gas industry.
Financial contribution to the international management of the EITI
Chevron contributed US $60,000 in 2018.
From Chevron's statement of support to the EITI:
More than half the world's population lives in countries rich in crude oil, natural gas and minerals. These resource-rich countries have the ability to generate revenues to facilitate their own economic development and reduce poverty. Chevron believes that the disclosure of revenues received by governments and payments made by extractive-industry companies to governments could lead to improved governance in resource-rich countries. The transparent and accurate accounting of these funds contributes to stable, long-term investment climates, economic growth and the well-being of communities.
Our commitment to promoting revenue transparency is reflected in our participation as a stakeholder in the voluntary, multinational, government-led Extractive Industries Transparency Initiative (EITI), of which Chevron is the longest continually serving member of the international board. More than 40 countries are now undertaking EITI's external validation process to ensure they are implementing the program according to agreed-upon standards. Chevron currently operates or has a nonoperated working interest in 16 EITI-implementing countries: Azerbaijan, Democratic Republic of Congo, Ghana, Indonesia, Iraq, Kazakhstan, Liberia, Myanmar, Nigeria, Norway, Philippines, Republic of Congo, Sierra Leone, Trinidad and Tobago, Ukraine and the United States. In addition, we are supporting several countries in their efforts to join EITI, including the United Kingdom.
We believe that the EITI's multistakeholder approach, which ensures the full representation of governments, extractive-industry companies, civil society and the public, is the best approach for providing transparency between company payments and government revenues in resource-rich countries.
We will continue to work constructively with other stakeholders involved in revenue transparency initiatives that strive to provide citizens of resource-rich countries with information they can use to reduce corruption and improve governance.