OTCPK:GNOLF - Post by User
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UpPeriscopeon Mar 21, 2022 10:29am
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Post# 34531120
How reassuring Davey has a 5bn LOI sitting on
How reassuring Davey has a 5bn LOI sitting on MBS's desk. God help us if it's been misplaced on that Putin size table.
"In fact, the recent upward pressure on oil saw Saudi Aramco (ARMCO) more than double its profits to $110B in Q4. "We see healthy oil demand. Unfortunately, there is shrinking global spare capacity, combined with low inventories and a lack of investment," CEO Amin Nasser said following the results, blaming "a transition plan that is totally unrealistic" for the current pricing dynamic. "We're doing our part, but it's not enough. Other players in the industry also need to do their part and increase investment."