It’ll happen yet again. Cenovus is an oilsands company, not a refining operation. Management needs to figure this out already.
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lol. WRB refineries seem just fine with our crude blend. Must be those archaic Husky afterthought refineries giving us trouble.
I think cenovus is dragging the refineries down actually. You send 100 year old refineries your sulphuric sandy sludge that no one wants and pi-s and moan when something breaks. Maybe you should give up. There’s real crude all over the globe. There’s no market for whatever you call Cenovus sloppy sludge.
Core no longer Core? You’ve got to be kidding me. Must be selling refineries or at least majority stake.
Sell low. Buy high. Or was it the opposite. ??
Sounds like our good friends at British Petroleum want to take back operations at Toledo and evaluate our other Asset in Ohio, But what about the Asset in Wisconsin? Keeping it?
The scorecard is right where John wants it, underachieving and underperforming so they can claw back bonuses.
Maybe if cenovus would stop trying to manage refineries from their pajamas at home in Calgary or the incompetent a--holes they piled up in Dublin. All talk and no results. Hire the right people at the refineries and cut the useless corporate layers of overhead. Trying to get anything done is near impossible and these consultants are out of hand. Get good hires at the refineries and let them run. Cenovus head is up it’s own a-s.
Hutchison controls it.
Cenovus is like the liberal party of Canada. We just can’t seem to get rid of an unpopular leader.
They are quietly looking to spin them off. Chinese are interested. Be patient.
It might be time to spin-off the downstream assets. When ConocoPhillips spun off Phillips 66 in 2012, the stock came out at $37 USD/share. Today, they are at $122 USD/share…a 229% increase over 12 years.
The remaining upstream ConocoPhillips has had similar growth and success.
Just sayin…
When will Jon be held accountable for this failed strategy? Our shareholders must be getting sick of their excuses for such a weak stock price. Our only hope is to spin off the refineries into its own company just like Conoco did with Philip 66 or whatever it’s called. We need an activist shareholder to get rid of our executive.
There goes the scorecard. Thanks downstream.
Another “successful” quarter! Outstanding ELT!