Hearing that Kearl is back on the sales block as part of Exxon’s focus on core business and Suncor likely buyer given need for ore to feed upgrader. What are you hearing?
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@xv And Shell was going to before oil crashed
@sf Activision, Twitter and whole foods all did buybacks before the sale
https://energynow.ca/2026/02/canadas-oilsands-poised-for-mega-merger-after-busy-2025/
This is a pretty compelling story for ExxonMobil looking for another partner to unload the Kearl project onto. Suncor is looking for bitumen reserves, and Suncor and Cenovus both have refining capacity.
Tell me how IMO share price has climbed to over $160 without any real growth??? Yes they’ve knocked their cost down on paper by firing a ton of ppl, but that alone isn’t sustainable. Preparing to sell some might say….
John’s got little man syndrome, he’d rather jump in the Kearl crusher than sell it to Rich and Suncor
Exxon has zero interest in Canada, if they can sell it before breaking ground on the Edmonton office they will in a heartbeat. It’s a very big and difficult purchase for anyone though.
Wouldnt be surprised. Kearl was three times over budget, late on commissioning, plagued with startup issues, broke way too often because management pushed the plant hard initially, and took five years to get running “good enough”. We had a couple very, very smart consultants IOL paid for startup and they were d-mbfounded at how stupidly Kearl was designed. One said Kearl would bring IOL to its knees.
Too pricy. Only Chinese companies may be interested but it’s unlikely to happen
If you would’ve said this a few years ago I would’ve shrugged if off as “never gonna happen”. Now this is a very possible reality for Kearl lake. We’ve been told that Imperial won’t be spending huge capital on new projects, and future projects will likely be JV’s. With Suncor looking ro shore up their bitumen reserves, I can now see that Exxon would want to sell a portion of their 70% share to Suncor and Suncor would want to take over the operatorship just like what happened with Syncrude.
I haven’t heard anything but this is a very likely scenario given Imperials trajectory!
Kearl has always been for sale. The right price at the right time.
Let's hope this is the case, brings opportunities for employees back to Calgary.
I spoke to a few sources at Suncor and they confirmed the IOL boards intention to drive the company into the ground