What are the current profit centers / sinks in the Upstream?
Profit centers
Guyana
Uncon
Angola
Qatar
Profit sinks
LCS
Brazil
EMTEC
Any adds?
12 replies (most recent on top)
There is no irony here. Expats are needed to guide BTC engineers at least initially. Mentoring can’t be done completely virtually.
Irony is sending US Expats to work at BTC.
Makes as much sense as a trainer flying here to teach me how to conduct meetings over Zoom
It's all carbon-capture, so makes no diff.
They capture every carbon dioxide molecule you breathe out,
and turn it into buybacks and dividends.
Don't be blinded by science, or accountancy.
Just get rid of EMTEC. Fire all managers, VPs, directors, planners, advisors, even the president and move all technical people to the business units. Darren, I've just found you another 3 billion dollars in efficiencies!!!
Agree with @rfk
In our U/S BU, we avoid EMTEC like the plague. Bunch of ivory tower engineers (including Chiefs), with high billing rates and zero knowledge & experience with the Upstream business.
EMTEC almost completely useless, at least for Upstream. The local people have or can easily get the necessary knowledge. For the 20% time we could use an outside consultant we can get one at much lower cost than EMTEC or even BTC, including overhead charges. This ain't a rocket science business
@ean. I beg to differ. So far in the Upstream affiliates we carry the BTC at a low cost but spend as much or more training them. Long term plan I suppose.
All producing affiliates making great money
PLEASE don’t laugh. I think you forgot a major PROFIT centre called PORTING. Replacing one US job with a TC job will save 75% of a a US job’s cost. That is pure cash.
EMTEC is a major sink, primarily due to the enormous dead weight called EMRE
Singapore refinery sink
Kearl is making money again I think