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Marathon Oil Sells Stake in Canadian Oil Sands #4478171
08/03/17 12:29 PM
08/03/17 12:29 PM
Joined: Oct 2014
Posts: 2,410
San Antonio, TX
Nyogtha Offline OP
Nyogtha  Offline OP
Joined: Oct 2014
Posts: 2,410
San Antonio, TX
Marathon Oil sells its stake in a Canadian Oil Sands venture amid posting a loss.

Interesting since the Marathon Detroit refinery was revamped & expanded not long ago by Marathon Petroleum to allow higher processing rates of Canadian oil sands feedstocks.

https://www-chron-com.cdn.ampproject.org...he-11728462.php

Last edited by wwillson; 08/03/17 03:17 PM. Reason: subject clarification
Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha] #4478174
08/03/17 12:34 PM
08/03/17 12:34 PM
Joined: Feb 2015
Posts: 707
Sask, Canada
BrianF Offline
BrianF  Offline
Joined: Feb 2015
Posts: 707
Sask, Canada
High cost of production against sustained low prices and the current political environment in the province. I would do the same if I was running the company.


2006 Trailblazer LT. Castrol Edge with Fram Ultra.
2017 Ram 3500 SLT Megacab. Duron SHP 10w30 with Hastings LF608.
1993 GMC 1500. It has oil and still runs
Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha] #4478238
08/03/17 01:43 PM
08/03/17 01:43 PM
Joined: Dec 2016
Posts: 6,259
Waco, TX
Linctex Offline
Linctex  Offline
Joined: Dec 2016
Posts: 6,259
Waco, TX
By the time other "easy" supplies become "depleted" and oil prices rise again,
the plant will need to e refurbished, as well.

Is the Tar Sands plant idle, or just running at minimum capacity?


"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."
Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha] #4478311
08/03/17 03:06 PM
08/03/17 03:06 PM
Joined: Jan 2017
Posts: 1,139
USA
ArcticDriver Offline
ArcticDriver  Offline
Joined: Jan 2017
Posts: 1,139
USA
Several energy companies have let their leases expire.

Its a bad play.

Too much $$ to get it out of the ground at the current market. Doesn't it require about $85/bbl?

Heck, Keystone XL has FERC approval but no customers so Trans-Canada is SOL also.

People think US lawmakers determine what happens in the O&G Industry but its economy driven more than anything else.


Multiple Diesel and Gasoline vehicles

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