In the current business environment and cash flow condition, Chevron can last 4 yrs without borrowing, according to CNBC. This metric differentiates us from our benchmark competitors, some of whom can last decades. If we borrow money to pay dividends, we are in worse shape. Gorgon and Wheatstone are virtually on hold due to cash constraints. They were a big part of our future right? Now Buckskin and Moccasin gone. We will be forced to sell other deepwater assets at a fraction of their future value. Reckless strategic management got us here and now we are in reactionary response mode that verges on panic and sacrifices the future. As the marketplace comes to understand we are on the ropes, buyers will string us along as we are forced to divest. If the low price continues chevron is toast and we are to blame, not the marketplace. Time for new leadership before the ship sinks. Getting layed off may be a blessing.
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The company might be short on cash, but has a wealth of idiots. So it will go forward.
Gorgon and Wheatstone aren't on hold. Gorgon first cargo is coming up very soon.
The CNBC article assumes no capex or opex cuts. Both will be cut significantly, which will balance cash flow but all impact a lot of jobs. There will be another cut as MCPs roll off. We simply don't need the current staffing levels when capex drops from $40B to $20B.
Why don't you quit? Seems like you know better, I am sure a lot of company's would tak you in with your knowledge.