US oil giant Chevron is pulling out of Aberdeen after its decision to sell its remaining UK North Sea oil and gas assets and exit the region after more than 55 years.
The company, which is active in 180 countries, is focused on more profitable assets and had revenues of $200billion (£145bn) in 2023.
It will close its office in Aberdeen between December this year and December 2026, according to the Reuters news agency, with the impact on jobs unclear.
The company is engaged in a restructuring plan and is looking to make savings of $3bn by the end of next year that could also see it cut around 20% of its workforce.
At the time it announced its withdrawal from the North Sea the company said the move would not affect its Aberdeen technology centre or its international headquarters in London. The latter will remain open.
Chevron was one of the first companies to invest in North Sea oil, with drilling beginning in the early 1970s.
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