As a further sign of how much the big petro companies are still hurting, a bunch of them are starting to sell off refineries. That is not something that happens very often. Refineries are cash cows. Regardless of the price of oil, they operate and make money.
So they are being sold off to make a quick buck. But why. To stay in the black, or to finance some new drilling operations. Time will tell, but they know the state of the industry better than anyone, and see the inevitable return of hundred dollar oil.
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