I just dont get how slow moving big oil is.
I think its exactly the same with the upcoming renewable energy boom.
They are so caught up in their own BS they are blind to whats going on around them.
E.g why has it taken Total and Cnooc so long to come to the party?
Far have been screaming out for a backer for years as have all these other small players.
For petty cash some big player - Total- could have wrapped up every lease in the area if they started 18 months ago. By that stage FAN had struck oil, SNE had 4 or 5 drills on the trot hitting oil, Kosmos found a monster and followed it up with a few more. It beggars belief how incompetent some of these big corporations are and really how much money/acreage they will lose by being slow moving.
Report : APCL Farm out to TOTAL, page-97
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