Imperial Oil Ltd. (IMO-T41.01-0.99-2.36%) is hanging a “for sale” sign on its 95-year-old refinery in Dartmouth, N.S., but would consider converting it to an import terminal, the company said Thursday.
The refinery, which employs 400 people and processes 88,000 barrels per day of crude, produces a range of products from gasoline and diesel, to home heating fuel, but is facing tough competition from foreign refineries serving eastern North America.
The Dartmouth plant operates in the highly-competitive Atlantic basin market, where a number of refineries in the eastern U.S., Caribbean and Europe have been shuttered or sold.
The refinery, which employs 400 people and processes 88,000 barrels per day of crude, produces a range of products from gasoline and diesel, to home heating fuel, but is facing tough competition from foreign refineries serving eastern North America.
The Dartmouth plant operates in the highly-competitive Atlantic basin market, where a number of refineries in the eastern U.S., Caribbean and Europe have been shuttered or sold.