Come By Chance Refinery

Come By Chance Refinery is 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).

Come By Chance Refinery
Come by Chance Refinery
Location of Come By Chance Refinery in Newfoundland and Labrador
CountryCanada
ProvinceNewfoundland and Labrador
CityCome By Chance
Coordinates47°47′57″N 53°59′45″W
Refinery details
OperatorNorth Atlantic Refining
Owner(s)Cresta Fund Management
Commissioned1973
Capacity130,000 bbl/d (21,000 m3/d)
No. of employees500
Refining unitsalkylation, isomerisation, distillation of crude oil, hydrocracking, reforming catalytic, cracking catalytic, desulphuration
No. of oil tanks50

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 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]

References
  1. The Come By Chance Oil Refinery Newfoundland and Labrador Heritage
  2. "Harvest Energy Pays C$1.6B for Vitol's North Atlantic Refining" (PDF). nlrefining.com. August 23, 2006. Archived from the original (PDF) on 2006-12-09.
  3. "History of the Refinery at Come by Chance". North Atlantic Refining. Archived from the original on 2016-06-11. Retrieved 2010-01-24.
  4. "Irving will reopen dormant Come By Chance oil refinery, minister says". cbc.ca. May 28, 2020.
  5. "North Atlantic oil refinery in Come By Chance to close permanently". cbc.ca. October 5, 2020.
  6. "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.


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