Some things have changed in a very short time, the pandemic has opened up some issues and accelerated some processes. I wonder what your opinion is, is this company set on a good course, or could it be positioned much better for the future? Any thoughts?
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yeah @4gfz, 1b2cVLO1 made a very astute and poignant comment. LMAO!
1b2cVLO1
That is the most incisive and accurate commentary I have read so far. Chevron is going to make loads of cash as the Titanic slowly sinks.
Our strategy lately is that the industry is doomed, so we need to start mopping up now. Chevron is huge and sloppy, so plenty of internal value creation just by cleaning it all up. Slash costs, reduce staff, sell marginal cr-p, stop bad projects, get rid of old school thinkers, etc. Then add a few critical assets to fill gaps and make it look like we still believe in the industry. It is Titanic musical deck chairs as opposed to growing a business.
Good thing there is no MCP in the pipeline. Otherwise we would be in the same boat as Exxon. BTW MCP group should be disbanded as they have not delivered a single project under cost and in time in last two decades.
Cow fàrts are the future of energy.
Chevron has always fancied itself a 'fast follower' on technology and business trends. Unfortunately, focusing on societal trends rather than technology and business has put Chevron in a stall. It couldn't have picked a worse time to go through a major re-organization than 2020. As mentioned, Exploration has not delivered (a combination of D&I influenced timid and risk-averse management with no vision of success), the Permian has yet to be cash flow positive (worst kept secret in the Company) and probably never will be, especially now that Cimarex is off the table. There are no MCPs in the queue, and financial success (i.e., The Dividend) in the future depends on Australia, Tengiz, and the only growth opportunity in the Company, Israeli gas. Oh, yeah, and that bio-gas from California farms.
Chevron creates minimal value through S&T, it is just a necessary cost of business to move our upstream product. Value is created, fundamentally, through leasing cheap acreage and making massive discoveries which then are turned efficiently into high margin production. Permian sort of qualifies but we have never had positive cash flow from it. Exploration has not really happened in Chevron in over 20 years which was our last impact discovery, thus the acquisitions (TCO, Texaco, Unocal, Atlas, Noble).
No one in Supply & Trading knows what the heck is going on. It's a chaotic unit that has the most potential to create value for Chevron. Additionally S&T overrun with psychotic, panicky people.
Let's take George Wall as a senior management example of how Chevron operates...he is PRESIDENT of Supply & Trading and has basic knowledge of how it works!!! THAT'S a PRIME example of how flawed Chevron is..The guy is CLUELESS!!!!!! Not Opinion...FACT that ALL of his team can justify other than the ones s*ng his D
We’d be better with some new directors, unless you believe harvesting cow f@rats in California is the future of energy.