North Atlantic Refining Ltd. is a

petroleum Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

company based in

Newfoundland and Labrador Newfoundland and Labrador is the easternmost province of Canada, in the country's Atlantic region. The province comprises the island of Newfoundland and the continental region of Labrador, having a total size of . As of 2025 the populatio ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

History

In August 1994, the Vitol Group purchased the

Come By Chance Refinery Come By Chance Refinery is a renewable diesel refinery operated by Braya Renewable Fuels in Come By Chance, Newfoundland and Labrador, Canada. It has a refining capacity of . History The refinery was built by John Shaheen's Shaheen Resources f ...

from Newfoundland Processing Ltd. and the operating company North Atlantic Refining Ltd. was founded. In October 2006, Harvest Energy Trust purchased North Atlantic Refining for $1.6 billion, and in October 2009, the company was purchased by Korea National Oil Corporation. In 2014, it was acquired by SilverRange Capital Partners, a New York-based alternative asset manager. On May 28, 2020,

Irving Oil Irving Oil Ltd. is a Canadian privately owned intergenerational gasoline, oil, and natural gas producing and exporting company, a subsidiary of the parent company Irving Group of Companies, one of the largest "private conglomerates" in North Amer ...

announced that it was in negotiations to purchase the refinery. On October 5, 2020, the sale to Irving Oil collapsed and it was announced that the Come By Chance refinery would close permanently. In November 2021, the U.S. private equity group Cresta Fund Management purchased a controlling stake of the idling refinery and announced plans to convert the plant to a

biofuel Biofuel is a fuel that is produced over a short time span from Biomass (energy), biomass, rather than by the very slow natural processes involved in the formation of fossil fuels such as oil. Biofuel can be produced from plants or from agricu ...

operation. As part of the acquisition, the refinery was renamed to Braya Renewable Fuels.

External links

North Atlantic Refining

References

Oil companies of Canada Companies based in St. John's, Newfoundland and Labrador Non-renewable resource companies established in 1994 {{Newfoundland-stub