NEW – NL: Suppliers looking for ways to replace propane previously produced from the North Atlantic refinery
Traditionally, propane providers in Newfoundland and Labrador have sourced their propane from the North Atlantic Refinery in Come By Chance. With the refinery presently in standby mode as of March, 2020 due to COVID-19 and economic concerns, suppliers are looking for ways to replace the propane normally available from the North Atlantic refinery.
Superior Propane and North Atlantic are considering filling the propane farm tank at the Come by Chance refinery with non-odorized propane brought in from the mainland and keep it stored through the winter. Presently, propane suppliers in Newfoundland and Labrador are bringing propane to the Island on trucks from New Brunswick via Marine Atlantic from North Sydney, NS.
There have been a few attempts made to acquire the refinery. On May 28, Irving Oil indicated their intention to acquire North Atlantic Refining from U.S. investment firm Silverpeak, with the deal subject to regulatory review and conditions of sale being met. This included the marketing division, gas, and convenience stores as well as the heating oil and propane divisions. But on October 5, it was announced that the Irving acquisition was not moving forward. Another firm, U.S.-based Origin International Inc. made an attempt to acquire the refinery on November 10 but Silverpeak rejected the offer two days later.
The CPA is following the situation closely and providing support to members as requested.