Roger Read: Okay. That’s helpful. Thanks. I think my other question is along the lines of increasing the dividend, yet if we looked at sort of the cash flow statement balance sheet this quarter, it didn’t really nest — maybe I should say, really, it didn’t, to me, necessarily justify an increase in the dividend. So, I’m just curious, I’ve got what — what’s going on behind the numbers that that provides the confidence to raise the dividend here?
Avigal Soreq: Yes. So, I will start and then I will let the Reuven follow. So, we see a very strong cash flow environment. We see our performance coming very well. We see the cash flow has a — can dance just a little bit because of timing of a product, receivable, and payable. So, it’s nothing that we are looking on that too much. It’s just a minor tweaks in a few days. So, it doesn’t need to change our view on the business, which it isn’t. That’s the reason we are feel confident very confident around the business and the ability to increase a dividend. Reuven>
Reuven Spiegel: Well, just one add on the June 30th is a cutoff date, with the inventory draw of $82 million in the last couple of days of the quarter, we had the $82 million already coming in July. So that kind of made us determine that there should not be any change in our policy.
Roger Read: Okay. So, cash flows are stronger than what they look like in terms of the cut off there?
Avigal Soreq: Correct.
Roger Read: Okay. Appreciate that. Thank you.
Roger Read: Thank you, Roger.
Operator: The next question is from Paul Cheng with Scotiabank. Please go ahead.
Paul Cheng: Hi, good morning. I think that, two questions. One, we’re short, with all your cost reduction initiative and all that. So, when we’re looking at what your brand as the corporate adjusted EBITDA on a maybe — they’re looking out by 2024. What will be the kind of normal one way that we should assume in that line?
Avigal Soreq: Hey, Paul, it’s Avigal. Good morning. Thank you for joining us today. So, if we are looking — on the G&A basis, if you remember, like, two quarters ago, we gave a guidance that we’re going to be $70 million or lower for exiting the year. Now, we upgrade the guidance and we are saying a better number. We’re probably going to come back to you next quarter with some more tighter guidance for 2024. In terms of G&A, it’s a bit early. We see that — we want to see that all the projects that we are lining up are actually materialize the way we want it. And then we’re probably going to give you more tight guidance for G&A for 2024.
Paul Cheng: Okay. And second one is also we will show — have you make a decision or that, when that you will make a decision on the whether you’re going to make the investment there in the Fairmont Refinery in California. And also that one of your peers, recently designed to get out from the inventory arrangement with their vendor. And because they’re saying that the cost or the financing cost is much higher, and then they will be able to do better by themselves. So have the company consider whether you should continue to have that inventory arrangement from the outside?
Avigal Soreq: Yes. So, let me answer the first and the second. Second, so in terms of Bakersfield and the renewable diesel over there, it’s obviously a free option, and we are obviously looking on that. At this point, we didn’t make any decision. We didn’t make any decision, but once there is a decision around that, we’ll obviously let you know. At this point, it’s not a major item on our list. If we option this opportunity presented that we definitely will definitely be there. Around the intermediate agreement, we obviously improve our situation by moving from one vendor to another, we are looking on the capital allocation extensively. And if we’ll assume that that we have a better ways we’ll act around it. Obviously, that agreement is a shorter and the reason shorter, it’s part of that is to allow flexibility in the future if you choose to.
