Workers at an Imperial Oil terminal in Corner Brook are facing an uncertain future, following an announcement this morning the company is “evaluating the future” of its Dartmouth refinery and associated infrastructure.
In a news release, the company stated it will begin to market the refinery and associated terminals, including the terminal in Corner Brook, to potential buyers. At the same time, it will be considering alternatives for the Dartmouth industrial site.
Approximately 200 employees and 200 contractors are employed at the refinery and its related terminals in Atlantic Canada. The terminals are located in Dartmouth, Sydney, Sept-Iles, Cap aux Meules and Corner Brook.
A decision on either going with a sale, or an alternative use, is expected by the first quarter of 2013, Bruce March, chairman, president and CEO of Imperial Oil has stated. Until then, "safe, reliable, environmentally responsible operations remain our key focus."
"This is a difficult decision," March stated. "We recognize the refinery's long history of supplying customers in this region and we know that these jobs are important to the community. We are grateful of the relationship we have built with the community, our customers, and suppliers, and we recognize the potential for uncertainty that this evaluation may create.
“As this process moves forward, Imperial Oil will continue to service our customers' needs and is committed to providing general updates to our employees and the community.
According to the company statement, the refinery has been operating in a “highly-competitive” market “open to significant global competition.
“Demand for refined products in the basin has declined in recent years, and despite tremendous efforts by our workforce, the refinery has not met expected financial returns.”
The refinery started operations in 1918 and has a capacity of 88,000 barrels per day. It produces a variety of products including gasoline, diesel, jet fuel, home heating fuel, marine fuel, heavy fuel oil and asphalt.
Imperial Oil describes itself as “one of Canada's largest corporations” and “Canada's largest petroleum refiner.”
telegram@thetelegram.com
.jpg){kind=small}
.jpg){kind=small}
.jpg){kind=small}
.jpg){kind=small}
