Parkland Corp.'s Burnaby, BC refinery resumed normal operations after a January 12 shutdown due to extreme cold weather.
Parkland Corp.'s Burnaby, BC refinery has resumed normal operations after an unplanned shutdown on January 12 due to extreme cold weather. The refinery, which produces 25% of Greater Vancouver's gasoline and 30% of the jet fuel for Vancouver International Airport, experienced a 20% composite utilization and an adjusted EBITDA loss of between $60 million and $65 million for the first quarter of 2024 due to the shutdown. However, Parkland expects total adjusted EBITDA of $300 million to $320 million for the first quarter of 2024. The shutdown allowed the company to accelerate maintenance and refining optimization work initially planned for the third quarter of 2024.
April 01, 2024
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