This is why you don't put young mechanical engineers in charge of important work.
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Whhaaahaahahahaaahaaahahaha!!!
Employees will take a hit. ExxonMobil has 70 thousand employees compared to CVX 60 thousand. CVX needs to cut another 15 thousand to be as efficient as XOM.
Correct, @5qjz. Stock will take a hit.
Alng was supposed to start in May. Delayed. Gorgon 60 days done in early June. Probable delay. Wheatstone Supposed to restart in 2016. Delayed to mid 2017. Wheatstone process is similar to ALNG. More delays and cost overruns. GIven CVX project track record, what is your guess in Tenghiz. Delay and billions over budget. Kazahkstan government will penalize CVX very heavily for screwups and delay.
@1dvm is an example of an obvious troll who got cut because he is deadwood or could not become an engineer himself and is forever envious of them.
If he is a CVX employee he gets whatever benefits he earns also, so quit the jealous childish complaining, douche-bag moron. If not so be it. He is simply asshurt because he didn't finish school and has to sweep the floors. Poor lil thang.
@1dvm doesn't know what he's talking about. I am a Chevron engineer and wish I had a job for life. Doesn't work that way, moron.
Chevron ABU the worst company in the West, performing worse than the Dockers his year...
Chevron engineers are not unlike government employees. They have jobs for life and big payoffs when they retire. Most are protected by their network of friends and relatives. They will be the last to be cut.
Most of the stockholders who have stayed with CVX may have inherited their portfolio and live off the dividends. They may finally wake up if the dividend is cut. That's why the board of directors have not shaved the dividend.
@Hxq44xJ-1nhv, Being as I am not a CVX employee and you ARE most likely, me blaming it on others is more truthful than YOU blaming it on others as you did in your post. Stand up like a man and take blame and credit where it is due, or get out of the way. ($hit or get off the Pot). Things will be run better without the deadwood in the way.
$20 billion over budget at Gorgon. That's $1 billion more than the amount sought in the Ecuadorian pollution lawsuit. All of us remember how staggering of a figure that was and how the company vigorously defended itself for years in order to not have to pay that kind of fortune. When you think of the cost overruns at Gorgon, put it in perspective with the Ecuadorian Lawsuit. What an outrage and disservice to the shareholders.
Excellent job..blame the failures on others. Who would you like to fault for the 1) Delay with initial export. 2) Being 20 billion (billion...let that sink in, sh-- for brains) over budget?
No matter whether they get it running properly or not, some butthurt Chevron operations retards will Botch it up again like they did the last time. It's just a Chevron operations SNAFU.
CVX management owns very few CVX shares. Check Yahoo finance on management share holdings. They clearly are not confident in CVX future. Stay away from CVX until Gorgon, Wheatstone, Angola LNG, Bigfoot are up and running smoothly and final costs are known. Stay out of CVX stock till 2018
Gorgon and Wheatstone will be up and running before long, but at the same time, it will become a Russian Roulette for CVX investors. All it will take is a major mishap or accident to cause shockwaves to the stock price. For Chevron employees, it's advisable to not keep more than 7-10% of your total 401k portfolio in CVX stock going forward. Even the possibility of the Board of Directors announcing a dividend reduction will be a shock for the stock.
CIvil engineers, mechanical engineers and construction engineers will not get the plant running. It takes great process engineers, experienced operators, and really good electrical and instrumentation people. And very good site management. All in short supply or laid off. Gorgon will restart exports in late June, but will not stay up and running. Once APCI and KBR leave the site, things get interesting. Shaping up just like Texas City for BP, after BP layoffs in the late 1990s. Boom
Riiiiiiiiiiight
Relax guys - the end of fossil fuels is near. Very soon it won't matter whether the plant is running it not.
Aww look...it's an entitled engineer that knows everything!! That extra 20 billion over budget wasn't enough to make Gorgon work correctly the first time?
Yes, by all means, let uneducated operations retards run the company. That will show them!!!
Yes...for they are "ENGINEERS" and above reproach!
Yes, how dare you question only 56 billion dollars spent (just slightly over budget, right?) on a project that was delayed delayed delayed and upon start up, failed failed failed. Leave those engineers alone!!
The OP can lick my butthurt twat, he is deadwood and about to be cut.
Yep OP a twat
OP you are a twat. The gorgon restart is underway as I write. Naysayer go to hell.
Explain, OP. Why don't you start the conversation?