Thread regarding Shell Oil layoffs

Lots of Talk

No way Louisiana wants to lose the Convent plant. Keep hearing rumors that deal has been made. Lots of talk it’s Motiva. Cmon and announce already.

by
| 1668 views | | 3 replies (last )
Post ID: @OP+18wyyyzJ

3 replies (most recent on top)

Even if there was a potential buyer is there a market for the product? Refinery utilization across the US is ~ 70% and demand continues to drop as EV's increase. Convent will not be the only Refinery to shutdown. I would expect that the US will shutdown at least 250 k/bbls of refining capacity every year now going forward or be grossly oversupplied.

by
|
Post ID: @3yqe+18wyyyzJ

When Motiva JV was dissolved Shell had an opportunity to sell to the Saudi's but the greedy Dutch wanted too much. Bet they would like to re-negotiate that deal now. They can be such a pain the A$$ to deal with and often shoot themselves in the same place.

by
|
Post ID: @2qab+18wyyyzJ

Motiva cannot afford it, as Saudi Aramco is having severe cash flow issues. As such, the Convent plant will close at the end of February or sooner. Even Motiva does not want to inherit the low-skilled, unproductive lackeys from the Land of the Dumbos.

by
|
Post ID: @1evt+18wyyyzJ

Post a reply

: