Pacific Future Energy announced today it is planning to build a $9.1 billion refinery on British Columbia’s north coast.
According to the company, the refinery will be the “greenest” operating refinery in the world.
The refinery will be built in modules, each processing 200,000 bbl of bitumen per day.
The bitumen will then be converted into gasoline, diesel, kerosene and other distillates.
When all of the project modules are complete, the facility will have a capacity of up to 1,000,000 bpd.
The first phase will have a capacity of 200,000 bpd.
Samer Salameh, Executive Chairman of Pacific Future Energy said, “The combination of our strong management team, economically sound and environmentally superior refinery and access to international markets has made this very appealing to investors in the initial stage. By shipping refined products, we will eliminate the threat of a heavy oil spill. By building a refinery, based on NZNC emissions standards, we will reduce the emissions that contribute to global climate change.”