PARKLAND CANCELS RENEWABLE DIESEL PLAN AT B.C. REFINERY PARKLAND CANCELS RENEWABLE DIESEL PLAN AT B.C. REFINERY
Parkland Corp. said it will not go ahead with its plan to build a stand-alone renewable diesel complex at its refinery in Burnaby, B.C. The company said it made the decision as it faced rising project costs, a lack of market certainty around emerging renewable fuels and legislation in the U.S. that advantages U.S. producers. Parkland had announced a plan in May 2022 to build a stand-alone renewable diesel complex, capable of producing 6,500 barrels per day. The company said it is still going ahead with its plan to expand co-processing of renewable fuel alongside traditional petroleum-based materials at the refinery to 5,500 barrels per day. Parkland reported a fourth-quarter profit of $69 million or 39 cents per diluted share on $8.72 billion in sales and revenue.