I just read the Santos Report and it was interesting to see that they have stated that they have no hedging for 2023 or future years. This is the way that big oil companies used to be run and in my opinion it was the right way.
In the last ten years we have seen a new generation of managers and directors that were all too interested in “protecting the bottom line “ and earning their bonuses, and this usually comes at some expense which is often well hidden deep in the accounts.
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