MEDIA - 2006-02-13
The National Post - NP/wire say EnCana, rivals hear Nfld. refinery mulled
NP/wire say EnCana, rivals hear Nfld. refinery mulled
2006-02-13 08:08 ET - In the News
Shares issued 28,471,975
ALS Close 2006-02-10 C$ 4.99
From In the News (C-ECA) EnCana Corp
The National Post reports in its Saturday, Feb. 11, edition that a new private company has launched a study into building an oil refinery in Newfoundland to serve tight gasoline markets. A Reuters dispatch to the Post reports that Newfoundland and Labrador Refining Corp. will have a special focus on the United States Northeast. The company will spend the next 42 weeks determining whether markets are ready for a 300,000-barrel-a-day plant on Placentia Bay in the province s southeast, said Altius Minerals chief executive officer Brian Dalton. It would cost at least $2-billion (U.S.), said Mr. Dalton. Such a plant would be among the largest in North America. The plant would be the first built in the continent in more than two decades. Analysts have said tight refining capacity has been a big factor behind surging oil and fuel prices. Altius holds a 37.5-per-cent stake in Newfoundland and Labrador Refining. Altius stock slipped six Canadian cents to close Friday at $4.99 (Canadian).