Chevron (NYSE:CVX) plans to sell its California headquarters and would offer to cover costs for some employees to relocate to Texas, The Wall Street Journal reported on Friday.

The company plans to remain based in California, its home state for more than 140 years, but will leave its Chevron Park campus in San Ramon, its global headquarters for two decades, according to the report.
Chevron (CVX) reportedly expects to move from its existing headquarters in San Ramon in late 2023, and is looking for a new, smaller space to lease there.

"The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population," a company spokesman said.

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