Canadian Natural Resources and North West Upgrading (NWU) together plan to construct and operate a bitumen refinery in Alberta, Canada.
The refinery will upgrade bitumen from the Alberta oilsands and produce low-sulphur diesel fuel.
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Canadian Natural also plans to acquire 50% of the assets of NWU and form a partnership to construct and operate the facility.
Once complete, the facility will process 50,000bpd of bitumen and Canadian Natural will supply 12,500bpd to the refinery.
The refinery will reduce its environmental impact by capturing CO2 in oil extraction and will convert some of the bitumen into gas to reduce the need for natural gas for fuel in the heating process.
The proposed plant is subject to approval from the Alberta Government.
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By GlobalData
