Chevron Corp. (CVX) Shares Turned Red on Unexpected Annual Loss Chevron Corp. (NYSE:CVX) history dates back to 1879 when Pacific Coast Oil Company came into existence. Pacific Coast in 1900 merged with oil giant Standard Oil Co., which back then use to control nearly all the oil production and transportation across the U.S. Chevron expanded over the years by acquiring several companies such as Gulf Oil Corp in the 1980s, and Unocal Corp. in 2005. It is currently involved in almost all phases of the petroleum business ranging from exploration and production to refining and marketing. The San Ramon, California-based energy giant recently reported disappointing quarterly results, as low operating margins, acquisitions costs, and negative impact of Covid-19 weighed on its revenue.