Chevron to recruit from Indian institutes

For the first time, Chevron Corporation of USA, one of the largest global energy companies, will recruit from Indian institutes for its global operations.

The company is now in talks with Indian Institutes of Technology, Kanpur and Madras, said Jeet S Bindra, president, Chevron Global Refining. He was talking on the sidelines of CHEMCON 2007 organised by the Institute of Chemical Engineers (IIChE).

Chevron currently recruits from countries like UK, South Africa, and Brazil. The company  employs 58,000 people across 180 countries. The San Fransisco-based company conducts business across the entire energy spectrum including exploration,production, transportation of crude oil and natural gas together with refining, marketing and distribution of fuels and other energy products and services.

Chevron would recruit nearly 6000 people globally next year, said Bindra. "We are planning to integrate our ability to process unconventional sources of hydrocarbons into high value products, as well as work more strongly on developing alternate sources of energy without contributing to green-house-gas emissions. We will recruit professionals including chemical engineers," he added.

Chevron is the world's largest producer of alternative energy, and has invested $2 billion in developing energy transformation technology as well as geo-thermal sources of energy in the last two years, Bindra said. It
plans to invest another $2.5 billion for the same in the coming two years.

Demand for crude oil was expected to rise from 84 million barrels per day(MBD) in 2005 to 116 mbd in 2030, growing at the rate of 1.5% per year. "While hydrocarbon based fuels will continue to dominate for the next 20-25 years, it is neccessary to do more than just keep up," said Bindra. Therefore,developing alternative sources of energy was important, he added.

Capital spending of $4.1 billion in 2008 is budgeted for global downstream operations, including $2.3 billion for projects in the United States. The rest will be spent on international operations.

Bindra refused to divulge any specific details of the company's India plans. The company has a liaison office here.

Chevron has a 5% stake in Reliance Petroleum, and has signed a memorandum of understanding with the company that will allow Chevron to to explore the possibility of collaborating across the entire value chain from exploration, production, movement of crude oil and natural gas, refining, distribution, marketing potential bio-fuels technology centered establishments.