RE: RE: RE: Irving OilI would be surprised and disappointed if they bought that refinery. It does not fit with their current strategy of dispensing of non strategic assets and consolidating in the oilsands. The Petrocan buy was a grab of a cheap asset, portions of which could be a cash cow to feed growth in the oilsands, other portions to be sold off for more cash. Buying a refinery flows against that current.
Further, the refining business sucks, as margins have been crap lately, and there is no catalyst to change that that I see anytime in the near future. New offshore capacity, combined with stagnant production volumes worldwide make for a poor refining environment.
Not likely a valid rumor, IMO.