What's everyone's prediction for 2025? Any key divestments or new business? Where do we see the Corp going in terms of strategy? Think oil prices will fall? Put your prediction out and let's see how it does 1 year from now!
18 replies (most recent on top)
I new bold move tripsource will only approve motels with exterior room entrances. Gotta save that cash.
@g9+1jgpbn6bt
$7B is about 10-11000 employees reduced over a 3 year period. The fact is, any job that can be staffed outside of HC countries will be shipped there. It also means continued divestments, especially in the downstream. LCS and Upstream don't need nearly as many employees to operate. Anyone thinking they will have a job beyond 3-5 years is fooling themselves.
@g9+1jgpbn6bt Easy dude, we're all fu---d. All of us will be laid off in the next three years maybe four. Very very few will survive the massacre and their salaries will be flat for years to come. Darren has really fu---d up this corporation.
We announced an additional $7 billion in structural cost savings at our 4Q2024 earnings call.
How does $7 billion translate into global staff reduction especially HC10 countries such as Belgium, Singapore, and the United States?
Singapore will also be sold to a Middle Eastern Energy Company.
Fawley stays
@c5+1jgpbn6bt Papua New Guinea too
It is simple more cost cutting across the board. Outsourcing to indian and Low costs. CAPX cuts and no raises. Pensions days are numbered and further reduction in benefits. More with less which means they will push us more to stay later and work from home. More micromanaging and harassment. More toxicity and awful bosses. More pips.
More dysfunction. More people quitting and retiring. More turnover. More quiet quitting.
Basically business as usual at exxon. This is the new way so we better get used to it or find something else. I am not looking forward to the next few years or even the next few years.
Does that mean they're getting ready to move personnel to other areas if some Canadian assets slow down?
IOL is dumping all kinds of Canadians into the expat circuit. Golden Pass and Guyana are swimming with them.
@ay: BINGO!
Another year of zero raise since we are above salary reference though the performance was very good
Those of you who think Sarnia will be sold have zero concept of what it looks like to be a an asset for sale like Billings or Dartmouth. They are investing in Sarnia and Nanticoke well, well above depreciation. Not to mention the two assets are tied together in sale or stay.
I agree with the IOL/Sarnia posts. The writing is on the wall. Earlier in 2024 with the news of sending the research jobs down south, managers being offered "opportunities" at Exxon down south for the last number of years, zero investment in the refinery outside of maintenance, and now Trans Mountain operating to be able to easily send crude to the U.S. gulf, Sarnia's days are numbered.
Strathcona will keep operating and they will keep extracting. Strathcona and their upstream sites have been the only places for major investment in the last few years.
Nothing. Nothing will happen, unless you're working on the crown jewels the whole company is stagnating in the name of cost elimination. This will be emphasized further (if possible????) through 25 as the world becomes even more crude long.
My prediction is that 2025 will likely be a dynamic synergy of 'staying the course' while simultaneously 'pivoting' to capture emerging opportunities, all while focusing on leveraging core competencies, driving cross-functional alignment, and unlocking transformative value. Let’s definitely circle back in a year and see how aligned we were with our strategic north star!
Clinton, Sarnia, and Calgary will shut down.
I think we will see major movement at IOL. It's too heavy for the Corp to support all of those Downstream assets.