RE:RE:"Iron man Marino" needs to reduce the dividendCEO said," Dividend ecnomically warranted".
CEO also said that there is no gurantee that dividend will not be cut.
In my view they will touch the dividend as a last resort.
Since VET has one of the best decline rates, netbacks and capital efficiencies, many other companies will be forced to cut CapX/production which would result in lower production. OPEC is on vversge of cutting further and Russia may also fall in line.
Usually Corona like viruses tend to go away in summer and vaccine should be ready by next winter.
Despite initial setback Chinese responded well to the outbreak and the medical professionals work hard. Lot of them have been infected and two doctors have died which speaks volumes about their dedication. Most of them got infected due to fatigue.
It is a matter of time before they control the outbreak.
Point to remember is theat 98% of the infected people recover. Mostly elderly and people with pre-existing conditions die from the virus.
WHO has not termed it as a pandemic yet.
Yesterday's market reaction was to news which always gets old.
OPEC cuts will take of any temporary weakness in demand.
Soon all aircrafts and vehiles will be back in action.
Fear and panic has gripped the investors. Time to be greedy?