What a joke of a management committee, board of directors and the government for letting a US company bring IOL (100 year old company) to the s**.
What happened to corporate separateness? Now TG and DW have plans to exploit Canadian molecules, hose the minority interest investors (upwards of $500M of value based on rough estimates) and set up a wholly owned shell Trading shop in Canada in 2026.
Again, is the IOL board of directors asleep? Critical jobs are being migrated south to Houston at a higher cost and at the same time decimating fundamental knowledge that’s required for any stand alone O&G company which is a huge risk. How about the provincial and federal governments? Canadian taxable income is about to be stripped for the US to benefit. At this rate, all weak leadership contributing to this mess should be managed out of India in the “Global Hub”based on the lack of long term value they bring to the company and how far they are from the real Canadian business.
@ the government and BoD - wake up and block this immoral trade shop from starting up and exploiting Canadian molecules at the expense of the independent shareholders. Audit the s*** out of any proposals being presented including risk to long term value to the company. The move of Calgary head office to Strathcona Refinery and lack of diligence assessing the econs and long term risk to the company due to losing its top talent was already a disgrace.