Peak Chevron?

Have we passed Peak Chevron? When I joined, it was an ever growing, ever bright future with Chevron expanding in both relative and absolute terms.

For lots of reasons, some internal, some external, that no longer feels like the case. And if we are in secular decline, it has some pretty profound implication - no need for career development, no need for technology centers, no need for organic growth or exploration. We start to look more like Hilcorp and move on to harvest mode, aiming to sell assets at peak value.

This isn’t apocalyptic - lots of companies have gracefully managed decades long wind downs. It does mean a lot fewer jobs, but the ones that remain are high paying professionals. Just don’t expect advancement or company loyalty. And we’ll always be in danger of being swallowed by big red.

I mean how many people do you really need to sustain operations if you take out the fiction of growth, digital, lower carbon, personnel development, networks, etc, etc? I bet you could fit them all in 2 buildings…

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I mean we are still the 25th largest revenue company in the world. Good place to be.

Yeah DEI is some real bullsh-t, I'm surprised we succomed to that vapid thinking, but upon reflection it's a symptom of wider decay.

I knew that Chevron was on the long slide down when the Ref. Mgr. was upset over the events that had happened in Minnesota in 2020. He said this during the morning zoom meeting. It was then announced that the OE moment would be replaced with the D&I moment. Trying to make the place run safely and efficiently went out the window so we could then listen to stories about someone not getting the next job or the promotion because of how they looked. It was garbage. I'm just glad I was WFH since it allowed me to quit logging in to the meetings. I took the EOI and never looked back. Those who are left I suggest you get your resume updated and get out. Good Luck. You're going to need it.

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Is it peak revenue? Not in inflation adjusted terms.

Peak profit is because we have stopped investing.

Check with the layoff gang, they should have a good answer for you. The people who hang out on the layoff site to get the latest layoff news and are afraid of getting cut, you know -the top performers, if you get my drift. Highly intelligent group. They really have their finger on the pulse of the industry, I tell ya!

When the pension is frozen that’ll be my sign it’s time to move on. We’ve long since “peaked”, nothing to do now but ride this dying horse to the ground and step off.

Great point. We have become an independent. Is that what we want to be? Is technology no longer important? When the pension disappears, the transition will be complete.

Yes the peak has passed. We have moved from an upstream growth driven powerhouse to a mature business driven by desire to have the workforce cheap and in mundane boring repeatable roles. The elimination of upstream and subsurface people in senior executive roles and the rise of legacy downstream personnel has hurt in so many ways. Growing the company have subsurface leadership, developing it have upstream facilities leadership, minding it Finance management and shutting it down hand it to the downstream guys. Writing was on the wall once we ran from Anadarko deal and sold reserves with adding new. Big red is coming.

We are at peak production, peak revenue and peak profit.

Outsourcing and AI are the name of the game now. If you want to have a fighting chance to survive long term at CVX you need to become the most AI skilled professional in your area.

The peak was 2004 to 2014.

Passed??? That sh1t is so long gone we forgot what it looked like. Welcome to the downfall of a former Great Company. Human Energy amirite?

Thread regarding Chevron Corp. layoffs

Peak Chevron?

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