Seems we are aligning our culture to Exxon. I think this is a viable possibility. Talk me out of it please:
https://www.reuters.com/business/energy/converging-exxon-chevron-operations-could-spur-next-mega-merger-2025-07-24/
19 replies (most recent on top)
No this is far fetched . Spend time on realistic thoughts
@e2, this is a bit extreme - maybe 2035-2040 if nothing changes, but that is a lot of time for new business opportunities. We are not guaranteed a negative future with no hope. That's no way to live.
@bz and daughters.
@b4 you’re right. I remember hearing that at the time.
@fc The execs will do whatever it takes to cut costs. They will implement more AI and call it a success (whether it actually is or not, they don't care), and they will cut more workers to save money. Don't be too confident in your assessment.
@e2 Chevron will not exit Richmond by 2030. Fake news.
@e2 I’m comforted by the fact that those expected AI cuts will never materialize to the extent expected. Executives are hoping for a miracle that’s not currently possible.
I was in M&A before coming to Chevroid. EOM and CVX merger was the hot topic 3 years ago every IB and lawyer counsel were going crazy trying to land the business.
- CVX is a big company, CVX peak oil is here, it now takes more $ to reduce the acceleration of decline (why Hess was bought)
- CVX will shrink downstream and exit northern California by 2030.
- CVX is gearing up to move more functions overseas (more layoffs)
- CVX is gearing up to sell non core assets and those with low ROCE.
- CVX AI push will elimate all support positions and keep only a few to mange to data input. Thin 70% cuts in those areas
- CVX is restructuring pay
....watch that come out in late 2026.
- BY 2030 CVX will be under 10000 employees and 10000 hourly and contractors.
@by LC. Everyone, please read the Prize from first page to last. Years ago, I gifted this book to my favorite engineer and lastly to my son that just got hired at Chevron.
very likely not
FTC won't allow
All children from father Standard Oil. Welcome back home sons.
You oughta read The Prize.
The corporate structures are eerily similar. There’s at least several hundred billion in synergies between both companies. It’s now or never with Trump. Also don’t forget we have a slight issue with succession planning for the top job…. Now or never.
Oh it is happening.
Ex Chevron here…during Covid transformation, Chevron and Exxon allegedly drafted opening M&A docs since both companies values dropped significantly and oil futures crashed.
That was all scrapped by 2022 once oil rebounded and Russia went into Ukraine.
A megamerger is possible if circumstances open the door.
Reassemble standard oil?
Trump will approve it and no one will challenge him. He owns the Supreme Court
Would never get approved.
Granted that the federal government is a bit of a crapshoot, but I think that such a merger would violate enough antitrust laws for the gov't to step in to prevent it.
Possible. I would say nothing on the horizon as of today, but our leaders are clear that we should continue to expect constant change going forward.