HES (84.95, +5.2%)—Belatedly, investors seem to have figured out that HES does not have much to lose from instability in Libya. HES’s share of production in Libya is not only tiny (#msg-60203027), but also is subject to one of the highest tax rates on hydrocarbons anywhere in the world, which means that very little of this revenues reaches the bottom line.
Even if all onshore activity in Libya were to shut down, it would not make much difference to HES in the overall scheme of things.
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