Imperial bailing out of Syncrude. Sands are consolidating. Expect further rationalization on production side today. Refining makes money, production in sands does not.
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The sale of those Syncrude assets is next. This is what happened offshore NFLD, they sold off assets they didn't operate.
Syncrude is so bloated anyways. I won't be surprised the cuts will mainly come out of their support functions (e.g. Procurement, IT, Finance, HR, etc.), and those jobs will move to lower cost locations such as Edmonton / Calgary instead of at the Fort....
Suncor is taking operatorship of Syncrude starting end of 2021. But, IOL is not selling its stake in Syncrude. Don’t understand why you are saying, “Sands are consolidating.”