ExxonMobil's Imperial Oil set to put Canada refinery up for sale

17 May 2012 14:33  [Source: ICIS news]

TORONTO (ICIS)--ExxonMobil’s Canadian Imperial Oil affiliate plans to market its 88,000 bbl/day refinery and related assets at Dartmouth, Nova Scotia, to prospective buyers in the coming months, it said on Thursday.

Meanwhile, Imperial will also consider converting the site in Canada’s eastern Nova Scotia province into a terminal, as well as other alternatives, it said.

Imperial expects to make a decision about a sale or other alternatives by the first quarter of 2013. The move would affect some 400 employees and contractors at Dartmouth.

Imperial said that the refinery operates in the highly competitive Atlantic basin, where demand for refined products has declined in recent years.

In addition to Dartmouth, Imperial has two refineries in Ontario and another in Alberta. The company also has petrochemical operations in Sarnia, Ontario.

By: Stefan Baumgarten
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