I am thinking of a move into the trading group in a research analyst or commercial support role... but cant find out much about the profitability of this group... anybody in it or outside who knows if it is worth joining ? In terms of current profitability on yearly basis/ likely expansion?
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If this is a genuine post Then I would really caution you against listening to the trolls and outsiders posting on this board.
I have been in the trading organization (gas) for a while now and my experience has generally been good. There are plans to expand and grow, and a lot of resource being put in to do so.
Like every part of the company there will be good things and bad things, but if you are actually serious then I suggest you talk to a real person in the trading organization rather than relying on an anonymous internet board like this, before you make your decision.
Please, more ‘Trader hater’ threads! Listening to people criticizing something they know nothing about = high entertainment.
Don’t do it
Only the best engineers get asked to join a trading group. Very rare for anybody outside of existing commercial functions to be asked to go to trading. It will not be your decision
OP is obviously a troll or reporter
We would be better off PIPING the entire Downstream group and contracting this mark to market effort to any cow, sheep, goat, soy or corn farmer in the MidWest. At a minimum end this Woods experiment, another Value Added Chain Strategy failure or some such thing, get out of the this business and cut our losses. Shell, BP, Chevron, Total, and every other oil company is successful in this business. Guess this just proves once again, that our Senior Management is NOT the Best and Brightest after all, go figure, who would have thought?
That’s a big jump! Have you told your bosses at the newspaper/business magazine that you’re leaving yet?
@ : @mzq+1chRSFvI
Upstream precedes Downstream activity. PIP them first.
Stick with XOM, buddy.
It is a Trading corp at this point and nothing else.
If you are not in Trading, you have no future in EM.
Chemicals being sold off in next year.
Lubes and 'Specialties' - spun off to Mobil Rosneft.
Stick here for Trading, muh fren.
Trading groups don’t lose money when there is market contango… id--ts.
Crude, petroleum and natural gas combined in the Downstream trading groups had a loss of 400 million in 2019 and a loss of 700 million in 2020. PIP them ALL.
Anyone else can verify? Seems like some are claiming high profitability of this group 1b++, some are mentioning 1-2b loss
Lol a bunch of outsiders in a company that has no understanding of trading claim they have insight into profitability of the trading group… trading group made >$1B last year and is just shy of $0.5B this year.
Sidenote: If you want to get into trading go somewhere else.
Whoever said this 700 million loss is not true... i am from the group and its not possible because 700m loss a quarter is much more than a big trading company like trafigura is even making a year.. go figure.... wheres the evidence
Are you referring to the Downstream Supply Trading group run by Aaron Cobb that lost 700 million dollars in Q2 in mark to market trading? The group that loses 1-2 billion per year for the last 4 years, that group? Good group to join. They give raises to retain their traders I understand.
Different org meaning?
How are you getting in? I’m trying to myself and finding it impossible. granted, it’s from a different org.