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Darth Trader

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Darth Trader

Re: None

Thursday, 04/11/2013 1:39:51 AM

Thursday, April 11, 2013 1:39:51 AM

Post# of 953
More news out on the Oxy Shaw project in Abu Dhabi. Not good. Cost overruns are still horrible, but now they are trying to address the same government contract issues Conoco had when they walked away. The Emirate gov't will not budge and the fin-cast doesn't meet the payout they expected, which is consistent with the rest of their ME operations.

Expect a news release soon about this from Oxy. By the time you sift through all the fluff they'll put out, you'll really see the situation for OXy is not as healthy as people expected. I think its time the board members start giving a striaght shot report ion their ME asset operations.
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