Keep Calm and Carry On Refining

Canada’s largest private oil company, and operator of the largest oil refinery, is carrying out a strategic review, which includes the possible sale of the company. Why would they do this?

I grew up in Saint John, and had the privilege to work at this company for a few years. My extended family members who still live and work in the area, have reached out to me for a perspective. They are naturally concerned about what the sale of the largest business in town means for their future.

Setting aside any private reasons that the family might want to sell out (from the complexities of intergenerational wealth transfer to family taxation strategies), the most important reasons involve upcoming market changes.

My advice: keep calm and carry on refining.