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#4478171 - 08/03/17 12:29 PM Marathon Oil Sells Stake in Canadian Oil Sands
Nyogtha Offline


Registered: 10/13/14
Posts: 2327
Loc: 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


Edited by wwillson (08/03/17 03:17 PM)
Edit Reason: subject clarification

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#4478174 - 08/03/17 12:34 PM Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha]
BrianF Offline


Registered: 02/25/15
Posts: 551
Loc: 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.
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#4478238 - 08/03/17 01:43 PM Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: 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?
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#4478311 - 08/03/17 03:06 PM Re: Marathon Oil Sells Stake in Canadian Oil Sands [Re: Nyogtha]
ArcticDriver Offline


Registered: 01/27/17
Posts: 1139
Loc: 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.
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