U.S. oil producer Chevron used the term "Gulf of America" instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump's order to rename the ocean basin.

During his inauguration speech Monday, President Donald Trump repeated his promise to rename the Gulf of Mexico as the Gulf of America. "A short time from now we are going to be changing the name of the Gulf of Mexico to the Gulf of America," Trump said, during a description of his plans for his first actions as the 47th president.

Chevron Corp. has begun using “Gulf of America” instead of “Gulf of Mexico” to describe the location of some of its largest oil operations, after President Donald Trump ordered the US to rename the body of water.

"The Gulf will continue to play a pivotal role in shaping America's future and the global economy, and in recognition of this flourishing economic resource and its critical import