RE:RE:RE:RE:RE:RE:RE:Irving Oil RefineryWell the refinery has been foir sale for several years and has yet to find a buyer and thats including much better downstream operators than CVE so that should tell you what the market thinks of the over 100 year old facility. CVE has yet to show in the YEARS since acquiring Husky, that they are capable of turning around those facilities. They continue to burn cash and have issues.
Keep in mind, management has said in the past they plan to grow organically and payout 100% fCF, so the market would punish them harshly for changing their narrative again along with the fact that the market hates CVE's downstream given they are such poor operators to date.
Given CVE is regarded as top upstream producers ( where they make all their cashflow) the market would be much more receptive to expansion in that sector. Its amazing CNQ has become the top energy company in Canada by sticking to what they are excellent at.....buying and developing upstream assets without ever touching high capital intensive, low margin downstream operations. If CVE has bought upstream assets instead of Husky, it would be in a m,uch better position and wouldn't be widely regarded as the laggard of the industry.