Why is Asia Excellence delayed on loading vs original schedule announced 2 weeks ago? Asia Excellence still off sitting of Barrow Island. More missed commitments. LNG Buyers not happy. Why were cargo tenders at Angola LNG delayed? More missed opportunities as LNG buyers top off tanks before winter. Once tanks are full LNG prices will drop as new supply starts up. I guess a million dollar discount on next cargo will make buyer happy again
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Chevron FIFO LNG operation is one week operation and two months shutdown. This is a new LNG operation technology invited by CHEVRON.
This Operation strategy will be implemented in Soyo, Gorgon and Wheatstone LNG plants
2d1x = moron chevroid
@IjdX3XQ-1acr, Do you have an original thought of your own or are you going to just cut and paste articles that someone else wrote and criticize them? That's so burned out and dated and dull. Let us know when you grow a brain and learn to think for yourself. BTW, not a Watson fan, but don't need to read what I can online anywhere and the comments below it. This is the layoffs forum, Idiot.
The shocker for me coming over to Chevron from another super major is how at fault fatalities have no accountability. In fact the leadership teams on EVERY Chevron fatality has been promoted. This would make a great expose. This is what has me looking to get out of here. The total incompetence is tolerable to me. The total callousness of these fatalities is puzzling at best. How can one be a Safety professional in Chevron. What a joke this is to the leadership.......zero sense of urgency.
Quote from FT commenter on a cvx whitewash article praising watson.
"Today, with Chevron’s credit rating deteriorating as it borrows to pay its dividends, there is a greater challenge ahead in terms of cutting costs and raising profitability. But Mr Watson’s record suggests he is exactly the type of executive investors would want to take on that task."
Is this whole piece just an abstract from an approved Chevron company report, or independent informed journalism? Discuss.
How about, "MrWatson's record shows Gorgon over-ran costs and schedule significantly after multiple re-sets, continues to be dogged by start-up and quality issues, and the company overall remains a capital trap wth a chronic decline of return on capital since 2013, well before the oil price slump. It is also further a warm embrace with the Kazakh government to develop the field at any cost, and taking a huge static 6-7 year bet with investors cash before a single extra barrel is produced. Assuming the outcome is the same as every other megaproject delivered in the past decade (Mckinsey,. EY, Prof Bent Flyvbjerg, Accenture, Ben Sovacool etc etc) then the $37bn will be 50-80% over-run ($55-$65bn, or roughly $20-25bn extra) and 2 years late, so online only 2024, 9 years before the lease runs out. That's an outlay of about $8bn each year ($4bn Chevron) for a field that may have only 9 years of pay-back. Break-even in that scenario is well north of $70/bbl, in today's money. Mr Watson will be long retired before completion even if he stays on till 65 years of age, which is another systemic problem for the industry - moral hazard of the CEO (and senior team) who is/are soon to retire and do not want a business model collapse on their watch."
If Mr Watson wants to take on "this task" he should commit staying until it is complete and have his performance bonus pay linked to outcome.
ABU is full of cucks.
What do you expect? - it's Chevron. This is a company that brags on its perfection, then still has regular fatalities that people on this board are shamelessly proud of.
Anyone of PG 25 and above who has been involved with either of these LNG projects should be fired. This especially includes the incompetent FE's or "Project Managers" as they call themselves. This might send the right signal to others that will take over.
As usual they are finding major flaws in design and operations. So much for the sacred CPDEP process. It's a shame how inefficient we have become and to top it off how ineffective we have become. We just can't deliver anymore. Everyone saw that big fat cash cow called Gorgon and got a piece. Chevron was more that happy to spread the wealth on the original ROI. Now the new financial reality has Chevron shaking at it core. Even the most effective and efficient companies are getting razor sharp margins. Then when youthrough in the Chevron buisness model (Chevron Way and Processes) and lack of OE it becomes super clear this won't work. I only lasted 11 weeks out on that Island before I gave in.....what a cluster FVCK.
OP, That's the nature of the business. I remember one CVX executive described it as "Teething Pain" or something like that. Yeah, right - That's what I say. At this rate, it won't be long before Chevron has a mouth with no teeth.