Equinor admits major US failure: "This is tough reading"
The Norwegian oil company should have been quicker in realizing it had lost control with its US shale venture. Moreover, overly optimistic investments led to massive losses, shows a new report commissioned by Equinor.
An eager attempt at securing growth ended up impairing both value and control, not least considering that business oversight and expertise were sorely lacking for the administration of onshore oil extraction.
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