Oxy cancels sale of Algerian assets to pay off debt, now considers them to be core assets. A year long effort all for nothing.
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It was Oscar Brown shooting from the hip as usual! Tried to fertilize the APC deal with plenty of BS, but ended up with crop failure!
Only VH and her ostrich squad are stupid enough to think the Algerians would be happy with the French getting involved.
What next, sell some Indian assets to Pakistan? The Al Hosn UAE project to Iran?
Pretty sure international BD was not part of this. They would have known better.
Pertamia would not be blocked by Sonatrach if they wanted the Algerian assets
The proposed sale to Total was a political disaster from the start
Who was advising VH? They just needed to fly from Pairs to Algiers to sit down with the Algerians and they could have saved themselves so much pain and professional embarrassment but as usual the big american oil company thought they could what they wanted without considering the facts
Hmmm.. have you been sleeping the last 4 months? This was announce 4 months ago and made public in the q1 earnings call
It is all a game word to try to make her look good and smart. We all know the truth.
Pill Anadarko like an onion till you get to the core checkerboard leases of Loving Co where you need Shell’s approvals to do long laterals.
“It’s not that we gave up on selling Algeria,” Hollub said during the call. “We believe that those assets there are such high quality, they’re going to be very competitive with our domestic assets. We want to be in Algeria.”
Umm.
- Yes you gave up on it after they told you they would block it.
- You want to be there so bad that you sold it off before you even owned it.