What a load of nonsense. Companies may have operated like this in 60's and maybe late 70's but this is not the case in general in todays market. Large companies these days have clearly defined lines between procurement departments and for example operations or project execution departments.The whole purpose of this is due diligence and for avoiding graft and pay backs particularly when you are referring to a major operator with large contract value potential to award.
It is a fantasy to think that projects get awarded without going through proper pricing benchmark exercises for a start let alone HSEQ assessment, perfomance track record evaluation, specific project experience evaluation etc.
If this is what is being suggested then there are some very naive investors out there that need to do a bit more research on the O and G industry.
NMS Price at posting:
67.5¢ Sentiment: None Disclosure: Not Held
