Parkland Corporation to invest $460.5M in BC renewable diesel expansion

In Canada, Parkland Corporation announced plans to increase renewable fuel production at its Burnaby Refinery in British Columbia. This is one of many steps it is taking to advance its commercial decarbonization strategy and provide its customers with a portfolio of low carbon products and services to help them meet their low carbon goals. Announced plans include expanding its existing co-processing volumes to approximately 5,500 barrels per day, and building a stand-alone renewable diesel complex, within the Burnaby Refinery capable of producing approximately 6,500 barrels per day of renewable diesel. We currently estimate that these projects will require an investment of approximately $460.5 million, with the majority of capital investment expected to be deployed in 2024 and 2025. Parkland has received BC Government support for over 40 per cent of the project costs in the form of BC Low-Carbon Fuel Standard Compliance Credits.