So FIFO voted for a strike as I predicted. Chevron kept insisting the union would not have majority of votes to strike. The union voted 94% to strike. They have to give a week's notice and will stop work for 24 hours. In actuality they will just slow everything down to a crawl as of today. As I said before, I think in my long career, this is the first time I can say. I am happy the union took a strike stance. Chevron came in as a bully and told the union they won't strike???? The strike is about a 20/10 schedule as this place is driving people mad....literally. The other unions will also come to a crawl. The union worker looses $8,000 a year from the schedule change, they said the would negotiate even more pay reduction, which is a first in my career.
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30 yrs ago Chevron completed the NorthWest Shelf Gas MCP in that same part of the world. Project Lookback concluded we made a 6% ROR = to what bank CDs were paying! Project was re-rationalized on the basis of future cash flow! History repeats itself if you just stick around long enough.
Anon141000, it's clear that Chevron does not have a good handle on things at Gorgon and Wheatstone. It's a real shame and is costing us dearly now and will continue to do so in the long run. Perhaps we should get our partner, ExxonMobil, to become the operator of these massive projects.
It's absolutely amazing to me that there is zero Chevron leadership here. Everyone has disappeared. First 3 years of this project turn left, turn right, move up or back you hit a Chevron rep. Now not one???? Everything is going at a crawl and major delays are on the way. I firmly believe if they went to a 20/10 schedule that was requested last year the workers would be rested and more productive. Chevron is a bunch of punk cowards. We like it this way (incompetent leadership gone) but it shows the amount of fear at this project, everyone is hiding. Wheatstone will also come to a crawl. We are now seeing if we get any deliveries???? Every time we ask where is leadership...we get "Oh, on vacation."
Should have hired Philipinos - they are twice as productive and a quarter the cost of lazy Australians.
Hindsight being 20/20, it would have been better to not do anything in Australia.
Why was it decided to build two LNG plants in relative close proximity to each other and their respective fields? It seems like a lot of risk, especially with Gorgon being on a nature preserve island. It seems that it would have made more sense to just build Wheatstone and pipe everything from both fields to it. Design it with the ability to bring more trains online if market demand warrants it. It just seems like leadership took the riskiest approach possible.
This is another blow for the company and will show up in the stock price starting today. Although the stock futures point to a $70 open, the Gorgon setback will push the stock down further. Today's low open has to do more with the weakening of the Chinese and Asian markets that is driving the oil price down. Thanks for the update, Sitting at Gorgon. Keep it coming.