before they hatch! Oxy f-ups again & again & again...
https://www.reuters.com/article/us-total-occidental-algeria/total-told-it-cannot-acquire-anadarko-algeria-assets-idUSKBN22H1WD
2 replies (most recent on top)
Not surprising at all. What buffoon forgot to account for capital gains tax on Mozambique asset sale?
Oxy management defined by:
Lack of due diligence
Gross incompetence
Magical thinking
The last item is what got them in the most trouble
It all comes down to that same kind of “We Are Oxy” blue shining skies attitude. Sure it is good to be Positive but better to be Realistic! and have a plan B,C,D, or at least a solid plan A. That’s what makes we wonder, if we did in-fact did have one. It is proven now, “we do what others can’t” because there is a reason why others couldn’t or wouldn’t. Catch22 faced Oxy with a double whammy, a Bankruptcy clock ticking
and no exit from this mess.