Chevron, one of the largest oil companies in the U.S., announced on Friday that it will relocate its corporate headquarters from California to Houston, Texas.

The move comes after years of dealing with “adversarial” state policies from California Democrats, which have negatively impacted Chevron’s business, the Daily Caller reported.

“The company’s headquarters will move from San Ramon, California, to Houston, Texas,” the firm wrote in a press release announcing the move. “Chevron Chairman and CEO, Mike Wirth, and Vice Chairman, Mark Nelson, will move to Houston before the end of 2024 to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners.”

Chevron, the last major oil company headquartered in California, is relocating to Texas after 140 years in the Golden State. The move follows a trend of shifting investment and operations out of California due to the state’s “adversarial” energy policies, according to Forbes.

According to The Wall Street Journal, while some of Chevron’s senior leaders had long desired to leave California, the company remained in the state until Friday due to its historical ties and substantial assets there.

“We believe California has a number of policies that raise costs, that hurt consumers, that discourage investment and ultimately we think that’s not good for the economy in California and for consumers,” Wirth told the WSJ.

In the first week of 2024, Chevron revealed it had written down its existing interests in California by over $4 billion, largely due to the state’s stringent environmental regulations.

For his part, Democratic Gov. Gavin Newsom didn’t seem to be bothered by the loss of the iconic oil company.

“This announcement is the logical culmination of a long process that has repeatedly been foreshadowed by Chevron,” a spokesperson for Newsom told the Daily Caller News Foundation. “We’re proud of California’s place as the leading creator of clean energy jobs – a critical part of our diverse, innovative, and vibrant economy.”

Meanwhile, the Democrat supermajority that runs California has created year-after-year budget deficits — driven in part by driving businesses out of the state. This year’s deficit is about $68 billion.