With renewables and electric car growth will chevron still be around in 3 decades? If not then EOI looks more attractive. What do you think?
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Expression of Interest
What is EOI?
If you want a vision for the next 30 years just look at the last 30 years. Efficiencies in technology have dramatically cut staffs across the business. Expect cvx to do more with less.. No matter what anyone says, we will need plenty of oil for the foreseeable future. So the companies that are playing the long game like cvx will succeed. BP i am not so sure of.....
Am sure Chevron will still exist in 30 years time but be a smaller company. We are selling assets and pulling out of countries around the world. We are in permanent downsizing mode which I believe is due to us being too fat an organisation and have become inefficient. At times it’s almost as if producing oil is a secondary objective. We have too many self proclaimed experts in the organisation to whom producing oil is a hindrance to their career.
I suspect that regardless of your thoughts and ideas, currently you have nowhere else to go and will be on the street. So you can speculate and dream all you want of the great places and opportunities to work someday, but meanwhile focus on collecting a paycheck.
CVX will last a long time, the questions what will the work environment will be. I only see a trend on flattening the organization, using lame blame excuses. So if I was young and not part of the MBA program, I would look elsewhere. I have only seen the company take away mid management jobs away, reduce pay grades and increase workloads. If you are in your 30's why would you stay? by the time you are 40 or 50 what are going to be the opportunities? Look at the new org charts, lots of jobs at stake from people that have work their asses off for the company, now they will be walking out. Those jobs will be downgraded 2 PSGs or more, but the workload and responsibility remains. Note that the company has been managed by the same crew for a while now, their PSG remain intact.
Definitely, Chevron and other energy sector giants will change, but O&G will be around for 30+ more years. Maybe smaller and leaner companies, but still around and doing good business. Still good money to be had.
The oil patch in general has a long road ahead of it.
I can’t understand how and why any new hires would want to come into this industry, unless it’s the only job they can find.
If I were just starting out I would be worried. New technology is emerging and environmental concerns growing. Nothing will happen today or tomorrow, and this downturn is just like all the others before, a supply bubble, but over decades the landscape will shift radically... it has to ...because our current behavior is unsustainable. Stay in the game if you can, but focus on banking that money ASAP.
Sounds like new professionals are wondering if they will have a 30 plus year career in oil, or should move on to another industry.
The industry was on its knees, begging for mercy from shale-driven price wars and carbon clamoring when the Virus delivered the death blow. Industry will decline from here and Chevron with it. Nothing but contractions ahead.
But why EOI today for something that’s gonna happen after 3 decades?
At this rate Chevron might not be around in two decades.
There will be no “Chevroids”. We will all be replaced by ChevDROIDS.
As long as there is Chevron, there will be Chevroids.
Unlikely. Many in Corporate strategy are not visionaries but reactionaries.
Medicine, plastic, solvents, petrochemicals, air travel and freight, big diesel trucks, big ships, big farm and mining equipment represents 60% of oil demand. Emerging. countries will use oil vs electricity for a long time. Oil demand will peak but the plateau and decline is long and slow. The rebuild of the electrical infrastructure in North America and Europe will take decades to be able to move wind and solar energy around. The same environmentalist that block pipeline will block transmission lines. It took 75 years to build the US gas pipeline system...I expect a similar timeframe to build out the electrical infrastructure and charging infrastructure.
Since when has chevron shown an increased focus on refining? Yes, they purchased the Refinery in Houston, but they sold one in Canada, Africa and Hawaii all within the last 5 years. It seems like they are selling them more than buying them.
Chevron will certainly be around in 30 years, but will continue to slowly shrink, and emphasize production and refining. We’re already seeing these changes taking root. Exploration will be gone completely in about ten years, to be replaced by M&A. Geologists/geophysicists will be less and less needed. PEs and FEs will rule the upstream.
I don’t know why I always hear this argument. You may have not phrased it like this, but you seemed to Suggest oil might not be around long. Am I reading that right.
First off, you can’t invent renewable energy without oil. Yeah, those solar panels your wife wants on the house, they were made using oil. Also, unless something drastically changes soon you’ll never be able to fly a jumbo jet using alternative energy. It’s just not feasible. I’m not saying it will alway be this way, but we have a really long way to go.
The list goes on and on. It is highly unlikely oil will be replaced by anything substantial for a Very long time.
Amazon will buy us and we will be their D&I division.
id–t. Do you use medicine, do you use paint? Is your car plastic?
Let me be clear. So you think CVX might not last longer than 3 decade and you want people to take EOI this year?