Business
The diabolical state of the oil industry means write-downs in Australia are inevitable – Sydney Morning Herald
It’s near-impossible to see how the corporate regulator can allow oil companies to retain the book values of their assets at current levels.
Compare this with the current Brent oil price futures price of about $US41 a barrel and the US benchmark West Texas Intermediate futures contract price of around $US39.
It is becoming increasingly c…
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