Thread regarding Chevron Corp. layoffs

Pretty much all the conventions trash, especially CBP.

Anyone know what fields specifically are being sold? Don't have too much old stuff left.

https://edition.cnn.com/2021/07/04/world/canada-us-heatwave-northern-hemisphere-climate-change-cmd-intl/index.html

Chevron colleagues in USA are really daft abt climate change

its pointless to being selling assets while buying carbon credits from wind farms and solar projects which does not remove carbon from the atmosphere while we are still digging and contributing to carbon into the air

Chevron bought Atlas and Cheif assets back in 2011 and 2012 for over 6 billion and ended selling them after nearly 9 years to EQT for 725 million. This is not a big win if they can sell, for such a huge loss!

its no use selling when Chevron is still contributing to greenhouse gases and not serious abt energy transition. god bless america with more climate disasters heading our way

Seems fairly rational portfolio management to me. Buy Noble assets last year at $40/bbl and sell off some marginal properties when the price is over $70/bbl. You know, it is called "BUY LOW, SELL HIGH". Noble management failed to learn that economic principle and they sunk the company.

It is great we are selling those old/conventional fields. DPI on newer developments is much higher. What are you guys talking about layoffs in MCBU or why wouldnt you move because you would fired??? Do you have any idea of where the money is going?? You must be sooooo far away from where decisions are made. No idea even on the business plans. $ TO MCBU!!!!!

Another example of Chevron scraping the bottom of the asset barrel. Another crown jewel knocked out of its setting.

Reminds me of the late 80s layoffs in the Midland Odessa area. Tons of early-careers (no Horizons back then) lost their job.

"...could divest older assets over the year as it looks to boost investments in energy transition..." What that means is 10 cents goes to token 'energy transition' efforts, 90 cents goes to pay the dividend and/or stock buy-backs. The last two are what fuels senior management's retirement plans.

Um, hello, the key word is CONVENTIONAL. This is the old cr-p we couldn't give away for years. Nobody wants it. It has nothing to do with the Permian.

We shall divest our way to prosperity.

I thought the Permian was the future?

Bless all the people that took jobs / had to take jobs in Midland TX during the last re-org. You are just about to get screwed!! And you should know understand why anyone that was suppose to move to Midland was going h$ll NO!!

When will Chevron treat their employees with respect.... hhmmmm.... NEVER!!