Where did those Chevron Billion's go.

We are about to try and save $3 Bn/yr by gutting the company. We blew at least $28 Billion on cost overruns in the last 10 years, equivalent to 9 years of lay off savings.

Isn't it ironic that what we are saving by ruining peoples lives is almost the same amount we blew by bad decisions?

For perspective, using publicly available information, Chevron overran at least $28 Bn on just 4 projects.

Gorgon cost overruns: at least $5 Bn
Wheatstone cost Overruns: at least $5 Bn
Angola LNG: At least $8 Bn. ($12Bn - $4 Bn funding). We don't know about the hidden costs including the 2014-2016 rebuild). Or the additional drilling work required since current gas supply is only 70% of predicted.
TCO FGP: At least $10Bn, assuming final cost at $48 Bn( probably more).

Big Foot?

I am sure there are more cost over runs, but I think I made my point.

Comment! It's anonymous!

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How much did Lakeside cost (only to have MW tell us we’re all moving to Houston only a few months after moving into this brand new space). Why do we consistently gloss over these questions? Who made the decisions? When did they know we would be exiting San Ramon? Where is the accountability?

I am sure it is due to under estimating and poor planning / resourcing which this theme appears to be prevalent across CVX these days, probably under the guise of being “agile”.

Digital Core Program another 1B

"How much of those losses are you responsible for, directly or indirectly, is a better question."

I would put that question to the Leadership team members. We paid them to lead the way and they dropped the ball. It wasn't individual mistakes.

Does it matter to you? Will that help you keep your job? How much of those losses are you responsible for, directly or indirectly, is a better question.

Not cost overruns, massive underestimates. Massive optimism bias and massively afraid middle management to tell the truth to their superiors. Blaming this on PRC is absolute BS. Every group is involved in the estimates and the development, geology, reservoir, drilling, Ops and PRC. Outsource PRC - I am sure that will solve the problems.

@a3

You want facts? YOU CAN"T HANDLE THE FACTS.

And 28 Billion sounds low.

Hey hey hey. No facts allowed here… move along peasant

And PRC under a different names is being brought back....

Thread regarding Chevron Corp. layoffs

Where did those Chevron Billion's go.

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