Just wondering how the future looks like for Pembina. After cancelling the star project CKPC, the company is still focused in oil and gas. Our CEO, MD, have mentioned in the town halls that Pembina's vision in the next 10 years was to move far away from oil and gas due to the energy forecast showed a great reduction in oil and gas consumption.
Many people are concerned the new vision and mission are being reversed again. The company is tumbling internally.
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There is not future at Pembina after the cancellation of Canada Kuwait Petrochemical Corp’s (CKPC) propane dehydrogenation/polypropylene (PDH/PP) project.
Pembina is trying to survive with the Phase 7 reduced scope projects, to be honest things are not improving since the pandemic started. The company sends positve message so the shareholders won't panic but the situation is completely different from the inside. Pembina is struggling to fund the current projects.
https://www.bnnbloomberg.ca/pembina-suspending-4-5b-alberta-petrochemical-project-indefinitely-1.1536175
I was laid off last year and told everyone on my team to tune up their resumes. If you stay and are layed off, Pembina will give you the bare minimum in severance, mere weeks of benefits coverage and then told to get lost. My advice is to allocate your severance $ to RRSP funds and only draw $5,000 at a time (per Cenera. The employment transition firm hired by Pembina). This benefits you vs. the tax man and it annoys Pembina for having to do additional paperwork.
I agree. Pembina's future is endangered since CKPC was cancelled. Many expectations were build around this project and now the star project is gone. Pembina will have to stay in the sinking oil and gas industry.
Should I stay or should I quit?