figures.... you can't be serious. What part of the graph in OP don't you understand? Engineering capex has collapsed since 2011-13 peak and its still falling. The numbers are huge. i.e. the graph shows quarterly expenditure so 34B translates to 136Billion annually. Its now almost half that and as Gorgon and Wheatstone complete over the next few months it will knock it will knock another big hole into capex spend going fwd.
There is no news of any big FMG/LNG/NW shelf type project on the horizon. Woodside have canned the huge offshore outlay required for 'Browse'. Can you provide examples of big future capex the type in which WOR is typically involved? WOR still a 'sell' for me.
Graph shows the woeful macro, page-7
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