If they're still waiting for over $1bn on the Gorgon Jetty project, a contract which they signed 10 years ago, then they'll be writing it off, probably in the next year or so.
I suspect the recently departed CEO was put in with a short horizon in mind as they knew the BICC writedowns were coming.
Even though he's Spanish, I also give the new guy no longer than 2 years before the real CEO is announced following yet further writedowns on Gorgon.
CIM Price at posting:
$30.93 Sentiment: Sell Disclosure: Not Held
