BLOOMBERG: Leaked Study Says Exxon, Partners Overspent by $138 Billion on Oil, Gas Projects.
https://www.bloomberg.com/news/articles/2022-09-23/leaked-study-says-exxon-partners-overspent-by-138-billion-on-oil-gas-projects
6 replies (most recent on top)
Think of all those that took part in these inflations that are now kicking back in retirement. Nice.
Sounds spot on. LTA managers making decisions they have no idea about to check the courage of conviction box.
Agree. I was making significant progress in creating value for the company until they put a sh---y manager over me and he ruined everything. He wasted everyone’s time in wild goose chases, insulted partners/customers, and destroyed future business. And they promoted this individual because he only serves up what management wants to hear instead of what they need to hear.
Yeah…this is unsurprising to anyone who has spent time in the company.
Leadership would typically rotate through a group in 2 years, especially the high flyers. That would give them enough time to get something funded, take credit for future volumes and profit $’s, get a high ranking, raise, RSU’s, and then rotate on to the next high profile project.
There was never any accountability. It was always about climbing the ladder. Old news! Everyone already knew this!
‘ “human biases” that resulted in “overoptimistic” plans designed to win approval from senior executives for funding.‘
Does this actually surprise anyone? It is, and has always been, the MO of management at this company. Sell the big project, grab credit for the win, and move to the next job before the s—t sticks.
Pathetic.
Anyone has an open link to review? The article? So this is the reason and the price those that got laid off paid, for the bad decisions made by those wigs in charge? And the bad decision makers are still there continuing making bad decisions, ruining the company, culture, and people while pocketing $$$ in their pockets. Sick motherfuckers!