The drop this week is related to the fall in oil price; does anybody know how that link works?
MRM's contracts for facilities under construction (e.g. Barrow Island/Chevron or Inpex) are locked in as are its support activities for production (e.g. Woodside's Pluto and Rankin facilities). So the weakness must come from exploration which it seems the market expects to fall as a result of the crude oil price drop. LNG is used in large scale electricity production in Asia and, prime facie not oil based....so why the SP drop? ANy help appreciated.
Cheers
MRM Price at posting:
$1.35 Sentiment: Hold Disclosure: Held
