The Alberta government plans to construct a new oil refinery and petrochemical complex near Edmonton that could eventually rival the largest refineries on the U.S. Gulf Coast. The Government along with 16 industry partners are in the process of detailing the proposed US$7 billion project that would initially process 300,000 bpd of oil. It would be expandable to 450,000 barrels per day, putting it on par with the giant refineries of the U.S. Gulf Coast.
The complex could be in operation by 2012 and will have the distinction of being the first new refinery in North America in 25 years. The last refinery built in Canada was Shell Canada Ltd.'s Scotford refinery, built in 1982 near Edmonton. Currently, there are four refineries in Alberta and 15 in Canada.
Concentration of 40% of the refining capacity and 80% of the petrochemical production of North America, in one region alone has taken its toll on the global industry. The impact due to natural calamities has been seen in this hurricane season. It seems more prudent to distribute the capacity all across.
14-Oct-05 
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