N.L. refinery considering 'economic shutdown' less than one year after reboot

N.L. refinery considering 'economic shutdown' less than one year after reboot

The company operating the refinery at Come By Chance confirmed Monday that it is considering an "economic shutdown" of the Placentia Bay facility, less than one year after it began producing renewable fuels.

Come By Chance refinery considering 'economic shutdown' less than one year after reboot

3 Min Read The company operating the refinery at Come By Chance confirmed Monday that it is considering a shutdown of the Placentia Bay facility, less than one year after it began producing renewable fuels. Supervisors at the refinery were notified on Sunday that Braya Renewable Fuels “is evaluating the possibility of an economic shutdown of the plant.” In a statement, the company blamed the potential shutdown on “lower-than-normal margins and …

Come By Chance refinery may be temporarily shutting down

The Come By Chance refinery may be temporarily shutting less than a year after it re-opened as Braya Renewable Fuels. The company says it is navigating ‘low margins’ and ‘tax credit transitions’.  While the timing of the possible economic shutdown is still being reviewed, Braya says it could happen by the end of the year. In a statement, Refinery Manager Paul Burton said the shutdown is due to the expiration of the ‘blender tax credit’. The com…

Come By Chance Refinery Facing Temporary Shutdown Due to Low Margins and Tax Credit Transition in US

Braya Renewable Fuels is looking at a temporary shutdown of the plant thanks in part to a transition in tax credits in the United States. The company just undertook a major refit of the old Come By Chance oil refinery to process renewable fuels. In a letter to employees that was acquired by VOCM News, Vice President of Refining at Braya, Paul Burton, says the possible shutdown is driven by lower-than-normal margins and the expiration of the Blen…