Thursday, July 9, 2009

Shell Might Close Massive Montreal Refinery

The union says Shell is considering other options
including keeping the facility open or selling it.

From CTV:

Shell Canada confirms that it might close its sprawling east- end Montreal refinery to cut costs, a move that could put 500 people out of work.

The refinery, one of Shell's largest Canadian facilities, processes 130,000 barrels of crude oil per day.

Shell says the facility on Sherbrooke Street East is under review as part of a streamlining plan.

The union says the refinery provides about 25 per cent of all gas consumed in Quebec.

Read more ....

My Comment: Quebec has a version of a cap and trade program. It also levies high taxes on the refineries. My only surprise is that it took Shell this long to decide on why they should keep an operation going when it does not produce the revenues that you want.

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