Sunday, October 22, 2017

$9.5BILLION FOR ALBERTA'S STURGEON REFINERY

It’s been more than a dozen years since Ian MacGregor put in motion a plan to build a diesel refinery in Alberta, which he believes will demonstrate the benefits of producing high-value products at home rather than sending raw bitumen abroad.
But after years of delay, a price tag that surged to $9.5 billion (it was $4 billion in the very early days, then $5.7 billion, then $6.5 billion and then $8.6 billion), changes in government priorities and business conditions, and now some start-up pains, the Sturgeon refinery in Alberta’s Industrial Heartland is expected to produce the first diesel derived from synthetic crude oil at the end of the year, and the first diesel derived from bitumen in early 2018.

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