Come By Chance Refinery
 Come by Chance Refinery | |
  Location of Come By Chance Refinery in Newfoundland and Labrador | |
| Country | Canada |
|---|---|
| Province | Newfoundland and Labrador |
| City | Come By Chance |
| Coordinates | 47°47′57″N 53°59′45″W / 47.79917°N 53.99583°W |
| Refinery details | |
| Operator | North Atlantic Refining |
| Owner(s) | Cresta Fund Management |
| Commissioned | 1973 |
| Capacity | 130,000 bbl/d (21,000 m3/d) |
| No. of employees | 500 |
| Refining units | alkylation, isomerisation, distillation of crude oil, hydrocracking, reforming catalytic, cracking catalytic, desulphuration |
| No. of oil tanks | 50 |
Come By Chance Refinery was a crude oil refinery operated by North Atlantic Refining in Come By Chance, Newfoundland and Labrador, Canada. It has a refining capacity of 130,000 barrels per day (21,000 m3/d). The plant is undergoing conversion to a biofuel operation.
History
The refinery was built by John Shaheen's Shaheen Resources from 1971 to 1973, with the help of British company Procon Limited, for $155 million.[1] The refinery began operation in December 1973 until the refinery went bankrupt in 1976, with Shaheen Resources owing about $500 million.[1] After four years of inactivity, the refinery was purchased by Petro-Canada for $10 million in 1980, but decided against reactivation, and instead sold the refinery to Bermuda-based refinery Newfoundland Processing Ltd. for $1 in 1986, which reopened it the following year.[1]
In August 1994, the Vitol Group purchased the refinery and the operating company North Atlantic Refining was founded.[2] In 2014, it was acquired by SilverRange Capital Partners, a New York-based alternative asset manager.[3] On May 28, 2020, Irving Oil announced that it was in negotiations to purchase the refinery.[4] On October 5, 2020, the sale to Irving Oil collapsed and it was announced that the Come By Chance refinery would close permanently.[5]
In November 2021, the U.S. private equity group Cresta Fund Management purchased a controlling stake of the idling refinery and announced plans to convert the plant to a biofuel operation. As part of the acquisition, the refinery was renamed to Braya Renewable Fuels.[6]
On September 2, 2022. There was a massive explosion in the refinery which injured 8 workers, one of whom died in hospital on October 15th. The cause of the explosion is currently under investigation.[7]
References
- ^ a b c The Come By Chance Oil Refinery Newfoundland and Labrador Heritage
- ^ "Harvest Energy Pays C$1.6 B for Vitol's North Atlantic Refining" (PDF). nlrefining.com. August 23, 2006. Archived from the original (PDF) on 2006-12-09.
- ^ "History of the Refinery at Come by Chance". North Atlantic Refining. Archived from the original on 2016-06-11. Retrieved 2010-01-24.
- ^ "Irving will reopen dormant Come By Chance oil refinery, minister says". cbc.ca. May 28, 2020.
- ^ "North Atlantic oil refinery in Come By Chance to close permanently". cbc.ca. October 5, 2020.
- ^ "Come By Chance refinery sold, will become biofuel operation by mid-2022". Canadian Broadcasting Corporation. Archived from the original on 2021-11-30. Retrieved 24 Feb 2022.
- ^ "Union demands inquiry after Come By Chance refinery worker dies following explosion". Canadian Broadcasting Corporation. Retrieved 17 Jun 2023.
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External links
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