ExxonMobil to become a bank

Announcement of new upstream President the former banker combined with post below from ExxonMobil LNG has me speculating we are about to fire everyone and just become a bank investing in but not planning, designing, executing, or operating anything. Just look at Guyana - SBM is the operator not us. Industry specs. Industry standard design. Just pay someone else to do everything. No need for employees and engineers or geologists right? Finance guys can handle it all.

“ExxonMobil LNG has an industry-leading team with a robust track record of success in financing major projects. Learn more: “

No mention made of project execution or technology or anything but being a bank.

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@xys is the one of the very few who knows how this corp works

@xys OK Dan ..thanks for the bank lesson. No go learn the difference between oil and water based mud and where to use them.

Its alway been a bank so to speak designed to move money at every level. What some see as wasteful spending is actually intentional as it drives economic activity far beyond oil production.

Take the return-to-office push for example which wasn't to do with collaboration so much as it was about stimulating spending—on transportation, clothes, dining, coffee, and more. This flow of money is part of the job, not just earning but enabling its movement.

In that sense, Exxon operates much like a bank. Its value isn’t just in producing resources but in managing and moving money on a massive scale, both internally and externally. Understanding this dynamic helps reframe what might seem inefficient or unnecessary as it is is part of a larger economic strategy.

OP may not be too far from the truth.

Thread regarding ExxonMobil Corp. layoffs

ExxonMobil to become a bank

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