Exxon and Mobil merged when crude oil dropped to I think $10 per barrel in 1999. I heard people on TV talking of a possible merger of ExxonMobil with Chevron.
10 replies (most recent on top)
doj would never approve
Advice from XOM employee to Chevron - Don’t let XOM anywhere near Chevron. XOM will poison the well and bring down Chevron as well.
Greedy ExxonMobil employees now want to ride Chevron train. Get lost dudes,
@1xsr+17nKHcqs
Your points are very clear and accurate.
(I do recommend hitting the paragraph key occasionally).
Rather than Chevron - given your clear case - it has to be Aramco or Rosneft.
They know how to clear the chaff and still sell the dregs.
I go with Rosneft.
spent a few years off Sakhalin.
The most attractive feature of XOM as an acquisition target is the ability to drive enormous costs out of the business by sc-apping their horrendous work practices, policies and culture. So much money is totally wasted on activity that delivers zero value. Their misplaced zeal for perfection in every single work practice is beyond wasteful. As if version 50 of a PowerPoint deck can actually reduce risk and improve results. Just imagine the efficiency gains if the company truly had streamlined policies and procedures, instead of all of the nonsense that people spend all of their time on. The built-in waste coupled with a demeaning and abusive culture cripples profits and innovation. This company has missed enormous opportunities by some manager or exec saying “that’s not how we do things” without even considering for a second that there might be a better way than the Exxon way. I have seen it firsthand countless times. Arrogance, greed and fear are not the foundation of a great company, and that is largely why XOM is crumbling.
Not merger but a possibility of Chevron buying EM some day.. but if I were Mike Wirth, I would let EM shake out for a while before coming in to buy assets cheap
Doubt the government would allow that also
My money is on Aramco to buy out EM upstream. Fat Crown on the flying tiger-horse.
Chemicals - sold to the toy and water-bottle conglomerate Nesattel.
F&L - splintered off probably to other state-owned entities.
That only leaves the Dividend organization. Hold on to that...
Doubt the government would allow the 2 largest oil companies in america to merge. Think about the "monopoly" or price rigging conversations that would come from that..
Bring back Standard Oil! lol