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Old 01-28-2015, 07:48 PM
 
12,735 posts, read 21,783,641 times
Reputation: 3774

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This is so sad.

 
Old 01-28-2015, 07:52 PM
 
12,735 posts, read 21,783,641 times
Reputation: 3774
I hope everything will stabilize soon so that people will stop losing their jobs.
 
Old 01-28-2015, 08:53 PM
 
2,047 posts, read 2,985,290 times
Reputation: 2373
Chevron & ExxonMobil: Time For Plan B? - Stocks to Watch - Barrons.com

This article discuss the companies that are now in plan "B" mode, which is change their company to be able to be profitable at $50. BP is one of those company mentioned.

I think 6 more months of $50, we will see most if not all Oil Companies phasing in plan "B" once they realize $80 and higher is not coming back this year.

How to get to Plan "B"? Massive amount of cutting.
 
Old 01-28-2015, 09:04 PM
 
12,735 posts, read 21,783,641 times
Reputation: 3774
Quote:
Originally Posted by ipuck View Post
Chevron & ExxonMobil: Time For Plan B? - Stocks to Watch - Barrons.com

This article discuss the companies that are now in plan "B" mode, which is change their company to be able to be profitable at $50. BP is one of those company mentioned.

I think 6 more months of $50, we will see most if not all Oil Companies phasing in plan "B" once they realize $80 and higher is not coming back this year.

How to get to Plan "B"? Massive amount of cutting.
The article is garbage.
 
Old 01-28-2015, 09:34 PM
 
Location: Houston, TX
17,029 posts, read 30,929,122 times
Reputation: 16265
Companies always profess stability...then it comes quietly.
 
Old 01-29-2015, 07:46 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
Reputation: 11032
Quote:
Originally Posted by Oildog View Post
Companies always profess stability...then it comes quietly.
The ones you worry about are the ones that claim to be in the best shape. If you're ok, you don't need to shout it from the rooftop.
 
Old 01-29-2015, 08:18 AM
 
1,501 posts, read 1,771,203 times
Reputation: 1320
Why? This is exactly what is gong on at many companies right now. However I will admit that XOM and Chevron who are the subject of the article will have a longer timeline for whatever "plan B" is for them.


Quote:
Originally Posted by SouthernBoy205 View Post
The article is garbage.

Last edited by hendersj31; 01-29-2015 at 08:26 AM..
 
Old 01-29-2015, 09:12 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
Reputation: 11032
Quote:
Originally Posted by hendersj31 View Post
Why? This is exactly what is gong on at many companies right now. However I will admit that XOM and Chevron who are the subject of the article will have a longer timeline for whatever "plan B" is for them.
The article was probably written by this guy;



There's one plan for if it was short, and then as the price stretches out, the plan changes. Everyone is a flippin expert on O&G all of a sudden. It's quite crazy making.
 
Old 01-29-2015, 09:52 AM
 
587 posts, read 1,135,180 times
Reputation: 578
sorry for those who lost their jobs or whose company will be laying off, and we know that ALL of the oil companies in Houston, BP, Chevron, Shell, Conoco, Occidental, and other players will be letting vast amount of employees go....

this reminds me of the two big energy layoffs in power/gas in the early part of this decade when enron, dynegy, shell, capline, bp, and others put thousands on the street due to mismanagement.

what so sad is these big oil companies have made money hand over foot in the last decade and continue to receive oil stipends from the US government, yet when stuff goes down hill, the suits save their backsides first and the trader or scheduler or mid level worker or supply clerk, or receptionist get shown the door.

it will have a trickle down effect as well to businesses that support all of these employees from food places, to cleaners to day cares, extra curricular activities, etc...

good luck to anyone in this industry.
 
Old 01-29-2015, 10:17 AM
 
670 posts, read 1,442,249 times
Reputation: 977
Quote:
Originally Posted by roger004 View Post
2 days back BP said they are freezing pay BUT announced layoffs today

BP said Wednesday it is laying off employees in Houston to cope with falling oil prices, but refused to say how many of the local jobs will be cut.

BP said the firm expects all of its organizational changes to be completed by the end of the first quarter, with more layoff announcements to come in the next few weeks. The changes, he said, were reviewed with the company’s safety and operations team.
BP's layoffs have been in the works for a long time. Not everything is published for all to see.
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