“Exxon and Chevron toyed with the idea of combining in 2020, when the cost savings might have been worth more than $20 billion. Consolidation makes sense in an increasingly taboo industry awash with crude, and the idea of a national champion created under his watch might suit the president-elect.”
Source: https://www.reuters.com/breakingviews/global-markets-ma-breakingviews-2024-12-30/
You guys, LOL
Wishful thinking. Exxon is perfectly content to trip up Chevron at every turn (their lawyers are good, ours aren't), and snicker at our looney-tune alternate energy models and diversity programs. As others have said, they tie-up Chevron in court for 2 years with minimal cost, and, even if Chevron wins, another 2 years of organizational distraction trying to integrate Hess.
ENGINE is explicitly a copy of Exxon’s operating model. And I’d wager my 401k that our new org structure will be a step closer still.
One thing people don’t realize is this is the role of consultants. CEOs can’t compare org structures directly, so consultants act as middle men in mergers, etc.
@1ecu: can you please elaborate this thought ?
“ Also, anyone notice they’re making our org structure the same as Exxon? “
I don’t think many noticed this, so it would be helpful if you can shed some lights, thanks
Regarding Hess: what’s Exxon’s downside in the lawsuit? A few million in legal fees to a) have a shot at getting the pie to themselves; b) handcuff a competitor. If they lose, no big deal. Lots of upside with minimal downside and low cost. Meanwhile we’ve had to sit on our hands for 2 years. So Chevron, on the other hand, is F’ed. If anything, it helps their hand in a merger, since we’ll be desperate if we lose. The stock will tank and MDub will be forced to do something. Exxon played this beautifully. This is why Mikey is acting out like a cornered animal. We lose Hess, and it’s an inevitable checkmate.
Also, anyone notice they’re making our org structure the same as Exxon? You know what does? Makes MnA a lot easier. Ask me how I know…
You really think Trump’s FTC would stop a merger that would allow him to boast the about the biggest oil company in the world? The next 4 years are the most likely since we were all Standard Oil.
Keep dreaming
BS.
Change of control will probably trigger a much better package than any EOI ever would. This could be great.
Yes let's get it done, Exxon will clean out the diversity appointment folks,the lazy ones who think they are hot shots and the let's wfh crew. Make the company great again.
Lets do it.
FTC won't allow that
NGH!
Find something to do with yourself. This is the layoff site.
Too big to merge and would be considered anti-trust even with lax regs