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If we're sitting here in a year's time and oil is still below $45, then I think the seeds of structural change have been well sown and then you'll start to see shoots coming up around that. But it'll probably take six to 12 months before we start to see anything material, of significance.
So I don't expect any near term relief from those guys until they actually see structural capacity go out of the business.
We've moved into FEED with a belief that we'll get the project across the line. But we're also under no delusion that there's some more work to do.
It's a buyer's market.
Our view is the oil market is going to remain structurally oversupplied for some time.
We're in a great situation here at Woodside with our balance sheet and the activities in front of us to put some real distance between ourselves and our peers over the next couple of years.
We've got lots of choices in front of us.
Before you take that next step, you need to know who you're paying your rent to, at this point in time we don't know what the regulatory framework is, we don't know what the fiscal framework will be, so we can't evaluate this project and we can't put it up to buyers as to being a viable project that they would be interested in.
I wouldn't expect that changes in leadership at any particularl time are going to make fundamental changes in the way this moves forward, so he will remain quite influential I would expect.
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