With the totally not unexpected announcement that OPEC+ will be boosting production to pre-pandemic levels, expect oil prices to tank again into 2022. Of course, the visionary luminaries at COP will assure us all that everything is great…balance sheet, well positioned, energy leader of choice, SPIRIT values (whatever that means) and all that. But then the axe will fall yet again. As it has for the last 6 years. And as it will for the foreseeable future. Enjoy the rest of your week folks, I’ll see you in the coffee bar.
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I’m sure the $1 billion in stock buybacks will help.
Clearly we need more managers, supervisors, and team leads! We need to start promoting even more incompetent younger staff, especially if they fit the “correct” demographic.
Stock was at this level in August 2005. So for all our efforts, all the acquisitions and dispositions, all the buybacks, all the wasted careers; we have nothing to show. Great job Leadership Forum!
Conoco has over 10,000 employees. Compare employee numbers to production and you will see that Conoco is way over staffed. Until employee numbers come in line with competitors we can expect layoffs.
Always be ready. My office has been prepacked for years. Will be ready whenever HR comes for me.
Oil is the only commodity where low-cost suppliers temporarily allow high-cost suppliers to gain market share. Now those low-cost suppliers want their market share back.
Can we monetize ESG as a defensive hedge?