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Parkland's Burnaby refinery resumes operations
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Parkland's Burnaby refinery resumes operations
Apr 1, 2024 4:00 AM

April 1 (Reuters) - Parkland Corp ( PKIUF ) said on

Monday that normal operations have resumed at its Burnaby

Refinery in British Columbia, Canada, more than two months after

it was shut down after an issue with a processing unit.

Operations at the 55,000-barrel-per-day refinery were also

partially paused in January, prior to the processing unit issue,

owing to adverse cold weather across western Canada.

"During this shutdown period, we accelerated maintenance and

refining optimization work previously scheduled for the third

quarter of 2024," CEO Bob Espey said.

As a result of the shutdown, Parkland said the refinery

expects composite utilization of about 20% and an adjusted core

loss of between C$60 million ($44.35 million) and C$65 million

for the first quarter 2024.

Parkland expects total adjusted core profit between C$300

million to C$320 million for the first quarter.

($1 = 1.3530 Canadian dollars)

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