Market Shift: From Crude to Lithium
ExxonMobil is officially turning the legendary Smackover Formation into a lithium engine. With a 2027 start date, the project is expected to generate $27M in annual profit by processing 165,000 barrels of brine daily.
Source: https://lnkd.in/gitnnp6k
Lithium made no money, where is this $27M coming from
ROFL —
We hired external guy EXEC and bunch of other EXECS to get $27M profit?
I am a measly Production Engineer in Upstream and I generate more profit through my work! WTF
When will be this on sale? Asking for a friend
Lots of capital being sunk for $27M a year profit. Where was red team vs blue for this ridiculous decision. We get to thank our now fearless upstream president for this ridiculous decision.
It will never make a single dollar, let alone $27M. Calling it now.
In all my years at EM, I’ve never seen anything as spectacularly terrible as LCS. At this point, let’s just admit it: this isn’t for XOM, and we should stop lighting money on fire. “Blue hydrogen”? Please. RFR wasn’t embarrassing enough, so now we’re doing methane pyrolysis. Solid DAC didn’t deliver the humiliation we needed, so let’s add liquid DAC too. And algae — the classic crowd‑pleaser — apparently wasn’t enough of a science‑fair fantasy, so now we’re dabbling in lithium. Truly inspiring. I know some people need patents/papers for their profile but the EMTECH research is a joke
$27 million per year is not even enough for Darren’s salary.
@cx look at how many McKinsey consultants joined LCS in the past few years
Huge bloated teams in LCS burning cash.
27M$ in annual profit? Wooohoo! If we run it for a few decades, and everything goes exactly right, we will make enough to pay for what we spent running strategy studies in LCS over the last few years. Totally worth it.
Good job Darren. Treat yourself to another bonus.
Thanks Darren, awesome post!