Anyone know what recommendations came from the Western Canada Study conducted by the ExxonMobil team over the last few weeks in Calgary??
8 replies (most recent on top)
Kearl = money pit
No, Kearl is not making a ton of money. They have significant losses and have no profit for the year. Not to mention, the tailings leak and other unaccounted for final expenses. Then there is the fake image they normally try to portray, which has been sullied beyond belief. They can't make money and they can't do it without wrecking the environment. It's only a matter of time.
Imperial oil is making ton of money, why sell. They produce long term cheap oil unlike shale which has limited high quality acreage which is shrinking causing all sorts of problems. Last year ExxonMobil made its best ever year, once these plants are built they keep on giving year after year and cost and production volume hedge.
Shale is slowly going to fail because there is limited amount of land that is available to go around and has short life cycle.
Looks like they will sell Kearl
Yes. Results are…. More BTC and DTI.
Reduce employee cost.
I left IOL some time ago. I was not PIP-ed in paper, but for sure they gave me the mental stress of “PIP”. I had to leave.
Now, for the questions. Has Exxon started pulling out the HIPOs from the assets? That will be the early sign of asset sale.
If Canadian government keeps on adding carbon tax and roadblocks to oil & gas development, the oil majors will not sit around. They have easier markets in South America, Africa and even Asia to explore.
Yes, heard about the study, but nothing on it’s outcome. The team had one of Kearl and Cold Lake’s Ex-OpsTech Managers too.
I think I can guess where they are trying to go.