Performance gap is widening.
Investors don’t see value in the integrated strategy; reason: there is not an investor base for such a company. You have the majors and then focused companies in refining and midstream. No one buys PSX unless they have to. If you want Refining exposure you buy VLO or even PBF; midstream, you buy EPC or TRGP. We are ruled by index buyers.
We will never outperform the sum of the parts.
@ax agree! L&D has to be the biggest waste of money and biggest failure. You could reduce their headcount by half and still get the same amount of work done (which isn't much). Embarrassing!
@an, what has happened in L and D since 2023 is a perfect example of example of the truth of your comment.
@ag It truly has become the hunger games. So many just want a division they don't work in to take the heat. Sad. I would tell anyone working anywhere in the company to get their finances in order because nobody is safe. It's not about any kind of value you bring to the company it's what you cost and who you know.
and the clock is ticking for Bartlesville!