RE:BP has option to withdraw from Offtake by end of year Not a chance. BP wants this oil badly. That's why it wants first right of refusal on additional plants.
"The BP Offtake Agreement also provides BP with a right of first look to purchase (i) the offtake on any future facilities that will produce similar products; and (ii) the ability to purchase new products made by the Corporation."
Schoener wrote:
BP has the contractual option to withdraw from the offtake agreement by end of year if no financing has been closed for the USGC facility in Texas.
If Cormark has the most updated information, that financing is only expected to close by end of Q1 next year.
Johann Schoener