RE:Does the future of oil lay in the hands of IndiaThe Irving family may have waited a bit too long to initiate a sale on these refinery assets.
Easy to say now, but when WTI was at $100 thsse assets would have fetched alot more sniffing around.
CVE has pledged to reduce net debt by up to $2B by end of year if oil price favorable and i would be surprised if they make a splash on something new.
IMO has an absolute pristine balance sheet presently (large cash on hand & fairly low debt for company size) and likely wants to keep it that way..
That leaves SU. Perhaps that is why it's been somewhat lagging vs its peers recently.
Pure speculation, but possibly something in the works that could be announced in the upcoming call (major reason why I don't believe hedge funds with small minority stake should have any board seats, let alone four).
These large integrated enery monsters.know what everyone else knows (and then some).
Some changes are coming to their models. How fast and how hard, nobody really knows that.
Likely faster in Europe & Asia than North America and places like Middle East, etc.
They are preparing themselves through restraint.
They will be tempted as "great bargains" are put on the market but the independent directors will remind them of importance of financial positioning for future (stick to the game plan).