Asset portfolio is determined by our execs. Value efficiency is determined by our execs. If Chevron has declined in value generation over the last decade then the problem is not lack of leadership, effort or skills at the front line level, But it is somewhere else. Hhmm, where could that be? Where do the longterm execs think the problem is?
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I know that TCO FGP is largely untouched by transformation. I saw that a lot of positions are out of scope for Round 3.
Execs run the show, but front line folks take the blow.
Commodity prices and future price forecasts are a major contributor.
Is Tengiz MCP going to be heavily cut during this transformation?
The more recent problem is big project capital overspend. Gorgon/Wheatstone and Tengiz FGP have not been CVX's proudest moments.
The Atlas acquisition gets a "pass" in comparison with XOM's XTO (or is that "uh oh") purchase. The Anadarko deal might be the best deal that we never completed.
Project execution seems to be the trouble spot in recent years