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Newfoundland Refinery Gets New Life as Green Fuels Site

  • Cresta gets go-ahead from province for renewable diesel
  • Province inks new 10-year indemnity deal with refinery owners
Refinery in Come By Chance, in 2017.

Refinery in Come By Chance, in 2017.

Source: Shutterstock

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The idled Come By Chance refinery in Newfoundland and Labrador will be transformed into a green diesel plant as part of an agreement between its new U.S. private equity owner and the eastern Canadian province.

Cresta Fund Management LLC acquired a controlling interest in the North Atlantic Refining Ltd. refinery in the maritime town of Come By Chance, Newfoundland and Labrador Premier Andrew Furey said Tuesday in a press conference. Dallas-based Cresta, which agreed to buy the refinery in July, had already said it planned to convert the facility into a renewable diesel plant.