This week I just became the most senior design engineer of my product line after a lot of people took the optional retirement packages. I still don't know jack about nothin.
Houston..we have a problem....
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Last: 2 days ago by birdman
cajunaggie08 said:
This week I just became the most senior design engineer of my product line after a lot of people took the optional retirement packages. I still don't know jack about nothin.
You with CVX or someone else?
They're still a couple weeks away from the WARN layoffs that were announced right?
Someone else
I believe Chevron started this week. We have some in-field measurements that need to be done and our contact let us know they were supposed to work from home this week. The next time we heard from them would be either when they could meet us to access the site or to let us know who their replacement would be.
Can confirm. All chevron layoffs for the first half of the year are complete. Second round will conclude in November. If you were in the first round, you are safe from round 2.
Man - are those pieces of **** firing people on Teams?
PeekingDuck said:
Man - are those pieces of **** firing people on Teams?
Welcome to the world of HR 2020-20..
Double Talkin' Jive...
I got rif'd via Teams in 2020. Infuriating.
Sims said:
I got rif'd via Teams in 2020. Infuriating.
Could be worse. I got a mass email in 2020.
They are avoiding angry people who act out of line so I sorta get it.
Damn...I at least got called into the conference room with HR and a RLT member (2022).Sims said:
I got rif'd via Teams in 2020. Infuriating.
I got a screenshot shortly after from a friend of the outlook calendar for the HR supervisors who were joining the managers on those teams meetings...TheMasterplan said:
They are avoiding angry people who act out of line so I sorta get it.
10 minute blocks of time from 8A - 4P for the entire day for 4 days.
It was "individual" meetings with a level of empathy that was near 0. You're right though, you put all those people together in a conf room and tempers likely flare. There's really no "good" way to fire 100s of people at once - even if it's the best thing for the company.
Monday should be interesting. Iranian parliament calling for a shutdown of the strait.
Closes TexAgs and goes to Costco to fill up Tahoe.
What does this do to the WTI price? Will we be building a new baseball stadium shortly?Furlock Bones said:
Monday should be interesting. Iranian parliament calling for a shutdown of the strait.
I'm the short term, 70's. If the blockade happens and more military interaction is required $100/ bbl. Tankers start blowing up, $140-200.
TyHolden said:What does this do to the WTI price? Will we be building a new baseball stadium shortly?Furlock Bones said:
Monday should be interesting. Iranian parliament calling for a shutdown of the strait.
LRHF is right. You will see wild prognostications of $175 oil. The only and I mean only way that happens is if someone gets short squeezed a la Semcrude. If someone blows up a tanker or 2, then yea that possibility becomes very real. In the short term, shutting down the Strait for a bit sends crude into the 80s.
Keep your plan's conservative. This thing could end quickly and we have economic fundamentals saying crude will go down.
I agree. If the Iranian navy tries to shut down the strait, it won't last long.
oil could not even sustain the couple dollar pop on Sunday.
Trump says China can buy oil from Iran.
Lord have mercy.
Lord have mercy.
A banker colleague of mine told me yesterday that his team had been working around the clock since crude prices popped last week, selling producers swaps and collars during the price runup.Furlock Bones said:
oil could not even sustain the couple dollar pop on Sunday.
Most producers have been largely under hedged because the price deck wasn't really compelling enough to lock prices in, so when prices ran up several dollars most of the independents laid off a good amount of risk through 2027.
"Can I lock in $10 over the curve right now or should I wait until things get silly if the Strait of Hormuz gets shut?"
The guys that took the win for some portion of their open position without overthinking did pretty well, but who expects an OPEC-type runup to last for only four days?
WSJ reporting that shell is in talks to acquire BP
rumors forever but - rumors usually have substance as we learned with Pioneer and XOM.
Think Shell would then sell of BPX to someone else? if so.. who?
Think Shell would then sell of BPX to someone else? if so.. who?
[IMG]http://i.imgur.com/oezgsPJs.jpg[/IMG]
Shell CEO comes out and says theyre not interested in BP.
https://www.reuters.com/business/energy/shell-says-it-is-not-considering-buying-bp-uk-rules-ban-bid-6-months-2025-06-26/
https://www.reuters.com/business/energy/shell-says-it-is-not-considering-buying-bp-uk-rules-ban-bid-6-months-2025-06-26/
Petrino1 said:
Shell CEO comes out and says theyre not interested in BP.
https://www.reuters.com/business/energy/shell-says-it-is-not-considering-buying-bp-uk-rules-ban-bid-6-months-2025-06-26/
Interesting rule in the UK on the 6 month ban now
Read the whole code....
Welcome to the China Club
"Here's the pitch...POPPED it up! Oh man, that wouldn't be a home run in a phone booth."
-Harry Carey
"Here's the pitch...POPPED it up! Oh man, that wouldn't be a home run in a phone booth."
-Harry Carey
BP is such a terrible company that I can't imagine Shell buying them unless they had no other use for their money. Shell has does a few dumb things in the last decade, but they've managed to stay away from BP.
Oil drew 10M barrels last week and 6M barrels this week and is 11% below the 5 year average. Why is the price of oil not improving more drastically? Is it the threat of tariff impact on the economy?
https://ir.eia.gov/wpsr/wpsrsummary.pdf
https://ir.eia.gov/wpsr/wpsrsummary.pdf
Looks like Hess/chevron/exxon is sorted out.
https://www.reuters.com/business/energy/arbitrators-exxon-hess-dispute-over-chevron-deal-have-reached-decision-sources-2025-07-04/
https://www.reuters.com/business/energy/arbitrators-exxon-hess-dispute-over-chevron-deal-have-reached-decision-sources-2025-07-04/
So what do we think the verdict is going to be?
I think Exxon prevails.
I'm hoping chevron prevails
Just by challenging it, for nearly two years XOM has:
- Prevented CVX from being part of the Guyana money flow while oil price was higher
- Prevented completion (and logistics) of the Hess merger and other additional income to CVX (again, while oil price was higher)
- Put a freeze on $60B of CVX M&A money, while waiting to see if the merger is going to happen. Money they may have used to buy someone else
- Put the competency of the CVX execs into (further) question
- All the while, XOM completed, and is over a year down the road with, a large scale merger of their own with Pioneer
Regardless of the outcome, XOM has won.
In fact, the ultimate troll would be they rule XOM has right of first refusal, and then XOM turns around and says "Nah, y'all go ahead."
- Prevented CVX from being part of the Guyana money flow while oil price was higher
- Prevented completion (and logistics) of the Hess merger and other additional income to CVX (again, while oil price was higher)
- Put a freeze on $60B of CVX M&A money, while waiting to see if the merger is going to happen. Money they may have used to buy someone else
- Put the competency of the CVX execs into (further) question
- All the while, XOM completed, and is over a year down the road with, a large scale merger of their own with Pioneer
Regardless of the outcome, XOM has won.
In fact, the ultimate troll would be they rule XOM has right of first refusal, and then XOM turns around and says "Nah, y'all go ahead."
OPEC+ members agree to larger-than-expected oil production hike in August
Does this help or hurt US manufacturers of O&G equipment? Don't think it'll help the US producers.
Does this help or hurt US manufacturers of O&G equipment? Don't think it'll help the US producers.
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