Thread regarding ExxonMobil Corp. layoffs

@sk+1kknb77kr

CRISP used commercial catalysts and commercial process configurations. There was no "research" other than producing barrels of product for engine testing.

@nn R&Ds Pipeline steel formulation alone covers a decade of all R&D expenses.

Even our emtec people at spring are snake oil salesmen, creating problems that don't exist and then "fixing them." Most groups add zero value and never will.

@nn CRISP is the latest tech commercialized. Might want to educate yourself on what we're doing.

tax benefits, innovation all good.

what the F justifies pedeling non-sense valuation numbers for ‘technology’ no one wants to ise because it solves a problem that does not exist? Just because you did a phD doesnt give you a right to make up things at the expense of shareholder dollars.

@jk name the things r&d commercialized profitably in the last 15 years? How much did r&d cost over that 15 year period?

Hahaha. Luckily, Exxon is not a co-op run by low IQ people. Appreciate your contribution to the world, but everything your hands touch was once R&D.

The audit team does not really look at return on investment and whether or not businesses are earning money. They are focused on risk and controls. It should be obvious by the monthly and quarterly stewardship activities of business results, as well as the investment reappraisal process of a project was a dud or not.

Just ask the EMTEC Planning Department on the Net Present Value (NPV) of each research project. The Planning Department will tell you that the NPV is negative or at best break even.

The real reason we have research is to "legally" tell host governments that we are working on game changing research for their government so that the host government will allow us to book and monetize twenty years of oil and gas reserves. and to legitimately have a conversation with institutional investors especially investors interested in "Sustainability".

The $1 billion a year research and development cost is petty cash compared to booking twenty years of on-shore or off-shore oil and gas reserves.

@bk as someone who is in Clinton today it definitely needs to go. Never delivered anything of value. Just lies and BS.

okay this is informative, lets say we get tax break. But can just acoid all contact with Upstream research folks and not give two sh!ts about their crqzy useless resewrch ideas?I guess thats allowed right?

@OP, you're misinformed.

The reason any research exists is the corp gets tax breaks. Also, you have talking points with investors and as someone else said with host governments.

so the annual valuation process does not do any meaningful valuation?

You seem misinformed

There are absolutely annual valuation studies and often times the people who invented the bullsh-t are the ones now in the business, judging the bullsh-t

There are also requirements to have business partners in every project. Those partners are not incentivize to tell those researchers basically who do free work for them that their work su-ks.

So you are proposing a system that already exist and actually only serve serves to make the problem more justified

Our Audit division functions more as a symbolic checkpoint than a true protective line of defense. Audit is largely inexperienced and lacks the competence, authority, and leadership needed to surface underlying complex issues, IF there are any.

anyone who has worked in Clinton or URC should be viewed skeptically if they ever end up in other pqrts of the company, especially Clinton — snakes and no business understanding.

Dum bass, we’re mostly et up with solving the problems that you have both caused and are either too stupid/uneducated to solve.

No, other parts of the company are not just as bad as research! No other part of the company gets to pick its own “research guidance” oversight panel and no other part of the company systematically eliminates those who question the programs. Sure, lots of groups take advantage of the ignorance of the rotating executives, but nobody but research makes it a way of life.

Why does every post have to have a political comment? Why is America so polarized and label worshipping? Please look in the mirror, are you even human?

No one cares about your stupid politics, this is a layoff and company information forum.

Can we please audit EMIT?
Can we please audit the global service companies?
Can we please audit Proxxima?
Can we please audit Kearl?

Yes, yes, I know that everyone in the company is an id--t except for you.

Over 50% of the research and development projects will never be commercialized. The single most important thing about spending money on multiple projects is so that the CEO and Executive Committee can legally put on the first PowerPoint slide to a host government that ExxonMobil is funding research in XYZ area.

Many kings, queens, dictators, prime ministers...etc. are interested in monetizing their non-oil and gas reserves in their countries and building petrochemical plants/AI data centers/etc. for their citizens to work at. Funding research in these activities that will most likely never go anywhere gives ExxonMobil a competitive advantage in negotiating a twenty-year oil and gas reserves in the host country.

Research and Development is just an enabling tool to book oil and gas reserves around the world.