Lower-For-Longer Drives Leadership Shift In Big Oil

When the Wall Street Journal last week reported that Chevron’s
chief executive John Watson would step down, the most likely
replacement as a “new leadership for a changing oil world” was
thought to be vice chairman Michael Wirth. Wirth’s background in
refining and his experience in cost efficiency improvement,
according to unnamed sources from the company, had tipped the
scales. According to a Goldman Sachs note to investors, Chevron’s
move is the latest sign that the oil and gas industry is making
cost discipline…

When the Wall Street Journal last week reported that Chevron’s
chief executive John Watson would step down, the most likely
replacement as a “new leadership for a changing oil world” was
thought to be vice chairman Michael Wirth. Wirth’s background in
refining and his experience in cost efficiency improvement,
according to unnamed sources from the company, had tipped the
scales. According to a Goldman Sachs note to investors, Chevron’s
move is the latest sign that the oil and gas industry is making
cost discipline…