Qatar contracts come to an end over the next five years, Malaysia / Indonesia / Nigeria are on the chopping block; All we will have left by 2030 will be Permian, Guyana,Canada and PNG.
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It's all good, nothing to see here.
https://x.com/weareyellowdot/status/1810706226558402806
Didn’t we just extend a contract with Qatar?
Upstream has constant churn. That’s always the case. That’s why there is higher returns than chemicals and refining.
That’s also why you have to treat the businesses differently and likely why the EPO strategy might fail if we don’t have a great view of the P&L value chains. (I’m not buying the current behaviors)
The cupboard is empty indeed, and we no longer have any expertise to replace it anytime soon. We’ve past the point of no return.
Granted the exploration company was a mismanaged mess prior to the layoffs whose sole purpose appeared to be providing management opportunities for geo HiPos. But to destroy exploration completely was the wrong answer. Too late! “Game over man, game over”
Having a rigid and hyper competitive ranking and leadership selection process in a business line where you can be successful (internally) by telling the rosiest story (with the right pedigree of course) and then disappearing before your trash gets found out is surely a recipe for long term success.
They don't even know who does the job well. How many of the leadership has actually found oil/gas? And I'm not talking about taking credit for a 'team success'.
All high on their own farts with no idea what true north is. Ride out the inflated CLs as long as you can until the corp sees that the cows all out of milk
That’s what they want. Riding that Tiger into the dirt. All
They care about is execs draining what’s left
That’s all we need…