When does the Kearl sale occur? Or at least the sale of some of the interest
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Is ExxonMobil’s Kearl Asset for Sale?
There is no public evidence that ExxonMobil is selling its Kearl oil sands operation. The most recent online discussion about a “Kearl sale” appears to be a speculative or informal post on a layoff discussion board, with no official confirmation from ExxonMobil or Imperial Oil
Current ownership and operations
Kearl is an oil sands mine in northern Alberta, operated by Imperial Oil Limited, which is a wholly owned subsidiary of ExxonMobil Wikipedia. ExxonMobil controls Imperial Oil through its majority ownership (about 69% of Imperial’s shares) Wikipedia. The project has been in operation since 2013 and is one of Canada’s largest autonomous mine fleets
Recent developments
In 2015, ExxonMobil announced an expansion project at Kearl that increased production capacity to 220,000 barrels per day, with further potential to reach 110,000 barrels/day ExxonMobil.
In 2021, during a period of market stress and reserve reassessment, ExxonMobil and Imperial Oil indicated that certain portions of Kearl’s reserves could be reclassified as “stranded” if oil prices remain low The Energy Mix. This was part of a broader corporate strategy shift, not a sale announcement.
Bottom line
While ExxonMobil has been reassessing and potentially reducing reserves at Kearl due to market conditions, there is no confirmed sale of the Kearl asset. Any “Kearl sale” chatter online is likely speculative or based on rumors, not an official transaction. For the most accurate and up-to-date information, ExxonMobil’s investor relations site or official press releases should be consulted.
Probably today