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Originally Posted by Nor
~42% owned by mobil, z and bp, combined.
Nor, follow the money.
Forget the dividend, look at the cash that has come through the front door over the last decade and examine what has been done with it.
Correct the oil/gas industry isnt at deaths door, probably in its early days if anything. However this has no relation to boiling oil on a beach in Northland. Correct also regarding the non oil company shareholders as they would be getting subsidised by the oil co's which common sense will tell you wont continue for long.
What you need to figure out is how much free cash can be generated by a terminal and what will the costs be to convert and then demolish the existing Refinery. Can get figures from the Australian ones they have done similar to.
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