Big Oil should spend windfall billions on transition, not dividends, says former Wood Group CEO

Oil giants should spend their billions of windfall profits on transition, not shareholder returns, according to the former CEO of Wood Group.

The invasion of Ukraine has sent oil and gas prices skyrocketing, which were already climbing steadily and had prompted calls for a windfall tax in the North Sea.

Bob Keiller said he has “no problem in normal times” with shareholders getting a reasonable dividend.

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Photo Credit: Energy Voice.