Marathon Oil Sells Stake in Canadian Oil Sands

[Nyogtha]

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

 

[BrianF]

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.

 

[Linctex]

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?

 

[ArcticDriver]

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.