Meg just announced the structure of the new Organisation
“From )1 July, we will move to an Upstream and Downstream operating model, replacing our current structure of Production & Operations (P&O), Gas & Low Carbon Energy (G&LCE), and Customer & Products (C&P).”
Now - here is where the jokers lay:
GB is now “EVP, Upstream”
RH is “interim” EVP, Downstream
These are the only two gents listed so far…
@b2 - Hopefully everywhere!
The company has far too many people doing god only knows what?
Layoffs in which areas?
@ah the. It’s musical chairs 🪑
They play their staff like disposable TP 🧻
Now we play with their careers and even the future of the company…
Any remarks re central functions (Hr, others)?
@a8 Do spill the tea! Starlee out played for almost 30 years…too much attention given.
Gordon just sent his note…. It gets even worse. Folding Wells completely under AF.
You heard that right…. The smug buffoon that has all his employees cooking the books on investment cases with a terrible track record of failing to actually deliver promised barrels…..now over a safety critical function where people die when you repeatedly lie and commit to what you cannot deliver.
I guess we’re just sweeping the entire M&S debacle which has delivered ZERO RESERVES under the rug because GB has been hoodwinked by AF.
This will be one of the final nails in the coffin for BP.
SS is out, wow. Guess she’s not a favorite anymore
Oh no, it cannot work, not with GB leading it. Also, now we know for sure layoffs are coming, as Meg wrote clearly about changes to the size of teams
Everyone gives Meg way too much credit.
2 woodside projects performance and future performance will still define her Legacy
Sangomar hit peak now declining hard
Trion super deepwater Mexican version of Perdido which will test its technology hard
The overwhelming amount of upstream capital wastage has GB and AF signatures on it. Repeated track record of sanctioning with no accountability for capital overruns and failure to deliver planned bbls. Simply put GB is not intelligent enough (or too lazy) effectively lead an upstream business.
Leaving the person in place with a track record of repeated underperformance is a huge miss by MO. She has already proven herself too cowardly or too naive to effectively lead.