The Rising Influence of Rising Affluence

[DewDiligence]

COP quiz:

In the short term the spin-off would negatively impact financials, and therefore reduce the CEO's bonus.

Yes, and the reason paring the Lukoil stake would adversely affect COP’s reported profits to a large degree is the arbitrary feature of GAAP accounting that requires an equity stake of >=20% to book pro rata profits. I.e., once COP’s Lukoil stake falls below 20%, COP will no longer be able to book any portion of Lukoil’s profits on COP’s own P&L.