As part of the process we put in place, Mr. Petit, we obviously approached companies operating in the energy sector, most of which were already in the refining business. The vast majority of these companies have a very good understanding of their industry, their operations, their profession and especially the North American market, because it is very different from the European market.
The overcapacity in North American refineries is well known. At the same time, there is one surprising fact. I am no expert on the oil industry, but over the last four or five months, because of my involvement in this, I have learned a few things. The fact is, Mr. Petit, that there are attractive acquisition opportunities out there all across North America and refinery transfers are occurring. There was a transfer in Delaware that was finalized on June 1. This is a refinery that had shut down and was purchased by a group of American investors.
So, there are transactions occurring. The buyers are adults and they've been vaccinated. They have a very clear understanding of the industry's circumstances in the short term, and especially over the long term.