Thread regarding Shell Oil layoffs

Convent

Anyone heard any rumors about Convent?

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Post ID: @OP+18XHNjKu

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It's shutdown. What other rumors were you hoping for?

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Post ID: @1jdc+18XHNjKu

Nothing. Seems like Convent staff are searching for positions elsewhere and they have shut the facility down. Not even sure if they will use it as a terminal. I would be very surprised if there was anyone out there with the appetite to buy a refinery with the pandemic and EV vehicles eroding demand for gas, diesel and jet. I would predict that there will be more refineries shutting down in 2021. It will only take one major incident for many of these refineries to trigger a close down, similar to what happened at PES in Philadelphia. The market lost 335 k bbls/day of refining capacity and didnt even blink as it is well over supplied.

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Post ID: @zcp+18XHNjKu

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