Shell Canada has announced it’s testing the waters to sell its refinery and chemical facilities in Corunna.
Shell’s plant in Corunna is for sale, the company announced Wednesday. (Handout)
News and information on Royal Dutch Shell Group
Shell’s plant in Corunna is for sale, the company announced Wednesday. (Handout)
Shell Canada is testing the waters to sell its Sarnia-Lambton refinery.
The fossil fuel giant that’s operated since 1963 at the 77,000 barrel-per-day Sarnia Manufacturing Centre in Corunna announced Wednesday it’s been looking to find a buyer for the refinery, chemical plant, and Sarnia distribution terminal – as well as another distribution terminal in Hamilton and Shell’s 45 per cent stake in the Sun Canadian Pipeline – for about a year, said spokesperson Olwen Gover.
The about 400 jobs on the grounds south of Aamjiwnaang First Nation and along the St. Clair River are being shopped as part of the deal, she said.
“The intent expressed to potential buyers is to preserve jobs and the capability that Shell people are known for,” she said.
Shell will continue operating the site if it doesn’t sell, she said.
“There are no plans to close any of the site.”
The refinery is one of the company’s best, but is not part of Shell’s long-term strategy to transition to “new energies,” Gover said, noting the announcement came Wednesday – the process to find a buyer is expected still to take months, she said – so Shell could be transparent with employees.
“Shell’s strategy is to focus on cash engines of conventional oil and gas, integrated gas and oil products to deliver the cash to fund future growth in new energies,” she said, pointing to an investment in liquefied natural gas the company made last year.
“Moving away from the oils to the gasses,” she said.
She touted the site’s strong performance when it comes to safety, calling it a cornerstone of Shell Canada and adding there are strong ties with the surrounding community.
“The team has really delivered incredible value to Shell and to the local community and Ontario,” she said.
Work has also been done in the last few years to improve reliability at the site, she said.
“We see the value in the Sarnia Manufacturing Centre and we think others will see more value.”
No information was available about the asking price or prospective buyers, she said.
Shell intends to continue marketing in Ontario, honouring branded supply and wholesale agreements, she said, in a news release.
Shell’s retail and aviation businesses in Ontario are not for sale, it says.
The company says the Sarnia Manufacturing Centre was originally built by Canadian Oil Companies Limited in 1952.
Posted in: Canada, Royal Dutch Shell Plc, Shell.
Tagged: Canada · Oil · Royal Dutch Shell Plc · Shell
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our websites and/or our activities.
John Donovan, the website owner
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
MARKETWATCH.COM ARTICLE: Shell’s Voser regrets U.S. shale bet, Arctic fail: 13 March 2013
FINANCIAL TIMES ARTICLE: Shell takes impairment on North America as profit slides: 1 October 2013
FINANCIAL TIMES ARTICLE: Peter Voser says he regrets Shell’s huge bet on US shale: 6 October 2013
ZEROHEDGE.COM: About That Shale Oil & Gas Miracle: 7 October 2013
POWERSOURCE/POST-GAZETTE ARTICLE: Shell to restructure shale assets in U.S.: 13 March 2014
Shell cuts spending and jobs at US shale gas arm: 13 March 2014
OILPRICE.COM ARTICLE: Shell's American Woes Highlight Difficulty of Cracking Shale: 13 March 2014
JEREMYLEGGETT.NET ARTICLE: Shale fracking is a ‘ponzi scheme’, ‘….equivalent of the dot.com crash’: 19 September 2014
SEEKINGALPHA.COM ARTICLE: Chevron A Safer Bet Than Shell: 13 April 2015
This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. It is an entirely free to use website drawing attention to the negative side of Shell while also publishing positive news about the company. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found on WIKIMEDIA COMMONS. Our shellenergy.website publishes Shell Energy customer complaints posted on Trustpilot where there is an ample supply. Use this link for Shell’s own website.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA – HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
© 2023 Royal Dutch Shell Group .com | Powered by WordPress
PrimePress theme by Ravi Varma