Parkland scraps plan to develop renewable diesel complex in Canada

Canadian fuel company Parkland has shelved its plan to develop a renewable diesel complex within its Burnaby Refinery in British Columbia.

PHOTO: Sunburst on Burnaby Refinery. Parkland

In May 2022, the company unveiled its plans to develop a stand-alone renewable diesel complex within its Burnaby Refinery in British Columbia. Upon completion, the proposed complex was expected to produce approximately 6,500 b/d of renewable diesel.

However, in its recently published fourth-quarter 2022 earnings release, the company revealed its plans to scrap the project.

The company cited “rising project costs, a lack of market certainty around emerging renewable fuels and the U.S. Inflation Reduction Act of 2022, which advantages U.S. producers,” as primary reasons influencing its decision.

The company continues to co-process bio-feedstocks at the Burnaby Refinery and is committed to increase the co-processing capability to 5,500 b/d to help its customers achieve their decarbonization goals.

By Tuhin Roy

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