And on top of that, though, as others experience downtime, and we never wish that on our competitors, but it’s just the reality of the situation they find themselves in, then that sometimes opens up opportunities for us to on, kind of a one-off basis, supply some of their customers in the market. And so, it generates an opportunity for us to even increase our product sales beyond, kind of our normal levels. And €“ so again, our teams are working diligently to see how to best supply customers with products and how to do that in the most economic way.
Dennis Fong: Okay. Thanks Brad. I’ll turn it back.
Operator: We’ll go next to Menno Hulshof with TD Securities.
Menno Hulshof: Thanks and good morning everyone. I’ll start with Strathcona renewable diesel. You clearly had enough confidence in the economics to FID last week, but given the cost and the scope increase, could we get your thoughts on, sort of the range of outcomes on project returns or even the project hurdle? And finally, where do things stand in terms of signing of feedstock supply agreements?
Brad Corson: Yes. Thanks for those questions, Menno. I mean, first, I would just say, we don’t normally talk about individual rates of returns on projects like this, although I can assure you, it’s a very robust return. It’s double-digit return and it competes very well with other projects in our portfolio that are competing for capital and hence, the reason we took it to FID. But I have with me Jon Wetmore, who is the VP of our Downstream and has been directly involved with this project from the outset and bringing a lot of leadership to moving it along, kind of through the decision process. And so, maybe I’ll turn it to him to talk maybe a little bit more about cost and then also, kind of the €“ some of those supply contracts.
Jon Wetmore: Thanks, Brad. It’s Jon Wetmore here, Menno. Thanks for the question. We did see some cost increases on the project, and I think Brad talked about that in his opening remarks. Really, they’re driven by the fact that we’ve seen some amount of inflationary pressures in the projects, labor, and materials. A little bit of constructability issues as well as we’re knitting together some catalysts that are third-party catalysts with our highly advantaged dewaxing catalysts that’s proprietary to ExxonMobil technology. But when we did that, the last layer of costs that we saw come in to this is really around added logistics and some very high-return additions to the project scope. They come in the way of us looking at where we want to sell the renewable diesel across Western Canada and potentially into the U.S. The return on all those added logistics in that last layer of scope that we added is incredibly strong, and it really nullified the impact of all those cost increases on the project’s rate of return.
So, we’re really happy and had a good review with our Board here about reviewing the project’s rate of return as being neutral even after that $200 million of cost was added. So, we’re very strong, as Brad said, competes very well with the rest of our portfolio. There’s nothing about the fact that it’s a renewable diesel project or driven by regulatory compliance that in any way suggests that its rate of return is below our portfolio, very, very competitive and at the top of our portfolio. In terms of feedstock, we’re working diligently around that with some of the best in industry that provide vegetable oils. We’re looking at a variety of different sources so that we are insulated to a little bit of everything from weather conditions to local sourcing challenges.