Chris Hedge

Developed and implemented a robust capital planning & prioritization process for Chevron Pipeline Company

During a cursory review of the Azeri-Chirag-Gunashli (ACG) PSA, I discovered that AIOC had the right to extract NGL’s from the gas they were giving to the Azeri government. Developed a high level proposal for installing a gas processing unit. This opportunity was worth ~ $1B/yr in additional revenue from the field.

Evaluated Chevron’s Chinese LPG import/export business to find ways to improve profitability and determined that under the then current business conditions in China, that improvements were not achievable in the foreseeable future and made the recommendation to exit the business. Corp BD assets, in region, were tasked with the actual sale of the business.

Led a project to design, developed and implemented an Electronic Document Management System and Alignment Sheet Generator system.

Lead a project to design, implement and lead an in-house centralized application support/maintenance/development organization for CPLs four geographically disbursed business units.

Due to the complex nature of condensates, and it similarities to naphtha and natural gasoline (plant condensate) Chevron's upstream group didn't have the expertise to develop an outlook on condensate. Given my background with NGL's and Natural Gas I was able to work with various subject matter experts within the company and develop a supply outlook that could be fed into Chevron's World Oil Model to better forecast crude pull & refinery capacity builds and ultimately the forward view of crude &… Show more

Due to the complex nature of condensates, and it similarities to naphtha and natural gasoline (plant condensate) Chevron's upstream group didn't have the expertise to develop an outlook on condensate. Given my background with NGL's and Natural Gas I was able to work with various subject matter experts within the company and develop a supply outlook that could be fed into Chevron's World Oil Model to better forecast crude pull & refinery capacity builds and ultimately the forward view of crude & fuels pricing. Show less

Because of my background in NGL's I undertook the task of developing the process and tools necessary to provide an internally consistent global 20 year S/D/T outlook for NGL's across 32 different regions. The outlooks are used to help assess and backstop investment decisions on upstream & petrochemicals projects within Chevron, CPCC and GSCaltex.

Develop the people, tools and processes in order to provide an integrated long term petrochemicals market perspective and to advise the Chevron board of director members to the ChevronPhillips Chemical Company board. This involves developing an internally consistent outlook on the supply/demand/trade of five primary derivatives (olefins and aromatics), twenty one secondary derivatives, capacity, and feedstock (NGL’s, Naphtha, COLO, MTO/CTO) for 24+ regions. Outlooks are used to backstop over… Show more

Develop the people, tools and processes in order to provide an integrated long term petrochemicals market perspective and to advise the Chevron board of director members to the ChevronPhillips Chemical Company board. This involves developing an internally consistent outlook on the supply/demand/trade of five primary derivatives (olefins and aromatics), twenty one secondary derivatives, capacity, and feedstock (NGL’s, Naphtha, COLO, MTO/CTO) for 24+ regions. Outlooks are used to backstop over $6B in Chevron Refining, CPCC and GSCaltex petrochemicals investment decisions. Show less

When I took over responsibility for leading Chevron’s annual integrated long term refining and fuels market perspective, the team suffered from ineffective people, processes and tools and as a result the team’s credibility was challenged within the corporation. Did a complete assessment and developed a long term plan to turn the situation around. Over the course of three years I increased the team’s capabilities by selectively changing the people in the group then used the new capabilities to… Show more

When I took over responsibility for leading Chevron’s annual integrated long term refining and fuels market perspective, the team suffered from ineffective people, processes and tools and as a result the team’s credibility was challenged within the corporation. Did a complete assessment and developed a long term plan to turn the situation around. Over the course of three years I increased the team’s capabilities by selectively changing the people in the group then used the new capabilities to improve the tools and develop processes to increase efficiency. As a result the team is now sought out by company leadership for their input and insight, can cycle through outlooks and develop scenarios to test market limits faster and provide more relevant strategic options. Show less

Evaluated Chevron’s Hong Kong LPG reticulation business to find ways to improve profitability and to evaluate a proposal to expand into Macau and the Pearl River delta. Given our capital constraints at the time I was also asked to evaluate an exit strategy.

I also led LSATs strategic assessment of our LPG business in India with regards to an overall invest or divest decision. Indian LPG business was struggling due to a significant freight disadvantage and the inherent nature and capital intensity of an LPG bottling business. I developed a turnaround plan as well as a divestment plan. Given the capital constraints on downstream at the time, the inherent risks associated with the business in general and the cost to mitigate the risk, the leadership… Show more

I also led LSATs strategic assessment of our LPG business in India with regards to an overall invest or divest decision. Indian LPG business was struggling due to a significant freight disadvantage and the inherent nature and capital intensity of an LPG bottling business. I developed a turnaround plan as well as a divestment plan. Given the capital constraints on downstream at the time, the inherent risks associated with the business in general and the cost to mitigate the risk, the leadership team elected to divest. Show less

I lead the efforts to integrate new and existing operating entities (TENDS Pipeline, Supply & Trading for the refineries, the global LPG cargo business, regional LPG marketing businesses in China, Hong Kong, India and Singapore) into a single Global LPG Supply and Trading (LSAT) business and facilitate the integration of the new organization into the Chevron's overall Supply & Trading organization with respect to all trading and back office systems, accounting, risk, credit, contracts/legal… Show more

I lead the efforts to integrate new and existing operating entities (TENDS Pipeline, Supply & Trading for the refineries, the global LPG cargo business, regional LPG marketing businesses in China, Hong Kong, India and Singapore) into a single Global LPG Supply and Trading (LSAT) business and facilitate the integration of the new organization into the Chevron's overall Supply & Trading organization with respect to all trading and back office systems, accounting, risk, credit, contracts/legal, IT, HES, Chevron Shipping company, Chevron Pipeline company and our marketing & logistics operations globally. Show less

Chevron CVX board members wanted to understand how LyondellBassell (LYB) overtook ChevronPhillips Chemical (CPCC) in a number of important KPI's. Working closely with a senior finance representative we undertook a complete review of LYB's financial & investor filings, trade information and available investment banking assessments and developed a complete picture of LYB from a strategic and financial perspective going back to pre-bankruptcy and projecting their sustainability going forward… Show more

Chevron CVX board members wanted to understand how LyondellBassell (LYB) overtook ChevronPhillips Chemical (CPCC) in a number of important KPI's. Working closely with a senior finance representative we undertook a complete review of LYB's financial & investor filings, trade information and available investment banking assessments and developed a complete picture of LYB from a strategic and financial perspective going back to pre-bankruptcy and projecting their sustainability going forward given expected market conditions. Also provided a compete company comparison in terms of feedstock risk, assets and market positions. Show less

Led the integration of Chevron pipeline businesses, consisting of crude oil/refined products/chemical pipelines, terminals and storage, resulting from both the Texaco and Unocal mergers. My efforts were primarily focused on the back-office systems, integrating Right Angle and SAP systems onto a single instance/platform.

Lead a project to design and install local/wide area networks in the five regional CPL control centers. Team developed chevron’s first foray into remote desktop management & support using executable scripts and PCAnywhere.

Lead a project to design and develop and implement a pipeline simulator for use in scheduling and forecasting multiple fungible batch pipeline systems.

Lead a project to design, develop and implement a right-of-way management system.

Worked with the TENDS (Texaco Extended NGL Distribution System) asset team in Louisiana to enhance the value of the assets through various additional interconnects and for the development of additional salt dome storage and required brine manufacture, storage and disposal.

One of my more intellectually interesting projects was to address the age old question of "is the trader really good or really lucky?" Utilizing one of our MBA Development program assets we looked at way to measure and assess market/volatility capture as a way of assessing a traders effectiveness and calculating that traders bonus award. Utilizing historical data and forward projections we developed a methodology/process presented a comparison of what was done over the last 5 years vs. what we… Show more

One of my more intellectually interesting projects was to address the age old question of "is the trader really good or really lucky?" Utilizing one of our MBA Development program assets we looked at way to measure and assess market/volatility capture as a way of assessing a traders effectiveness and calculating that traders bonus award. Utilizing historical data and forward projections we developed a methodology/process presented a comparison of what was done over the last 5 years vs. what we would have calculated and then presented a forward proposal, including a change management plan. While well received by leadership, they decided to run it as a parallel and use as input to the award process rather than as the basis. Show less

Lead a project to design, develop, and implementation a multi-year, multi-million-dollar world class client/server based “Pipeline Volumetric and Customer Service” front office application.

Lead the effort to take the in-house developed Volumetric and Customer Service application and offer it to outside customers. I developed the business model and lead our marketing efforts and engaged various other oil and pipeline companies in evaluating the product, culminating in two sales (worth in excess of $2MM) before the effort was discontinued by CVX as a non-core business activity.

Lead a project to automate the Chevron Land and Development Company owned winery in the Sonoma Valley, Ca. This was a complete floor to ceiling effort involving front & back office software selection, hardware selection, wiring and network infrastructure implementation, testing and training.