The NWR Sturgeon Refinery Project may be nearing completion but the company that owns half the project already appears to be looking for an early exit, It is nice to think that in the absence of pipelines that industry would invest the tens of billions necessary to refine all our production at home. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. The Company builds, operates, and manages a bitumen refinery. Moody's assigns A3 to North West Redwater Partnership's proposed senior secured C$3.5 billion credit facility; outlook is stable Moody's Investors Service 27 May 2014 Energy. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. North West Redwater Partnership develops refinery projects. Refining our Alberta Bitumen into higher value finished products. We are committed to the environment and Alberta's Energy Future. North West Redwater Partnership | Financial Post. North West Redwater serves clients in Canada. If you are looking to join an innovative, hard-working, and results driven team, then NWR is the organization for you! 50% owner of the NWR Sturgeon Refinery. North West Redwater Sturgeon Refinery investors seek an early exit: report. That may appeal to some as good politics but it is economically naive and just plain bad business, A partnership that plans to build an oil sands refinery northeast of Edmonton says the cost of the project has risen to $8.5-billion, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. NWR Sturgeon Refinery, the world’s only refinery designed from the ground up to incorporate gasification and a carbon capture and storage solution, while producing the cleaner, high value products needed to meet North America’s new low carbon standards. Unauthorized distribution, transmission or republication strictly prohibited. These costs were expensed and resulted in APMC reporting a loss of $163.2 million for the year compared to net income and comprehensive income of $36.8 million for 2017. The NWR Sturgeon Refinery Project may be nearing completion but the company that owns half the project already appears to be looking for an early exit. In June, 2018, as per the processing agreement with North West Redwater Partnership, APMC started paying debt tolls (total of $209.6 million for the year-ended December 31st). Read more about cookies here. Though the North West Redwater Partnership is private, Lever has a $5 price target on the venture’s 187.2 million shares, but notes “for the right buyer, the price could be higher.” The company’s earnings for 2018, when the Sturgeon Refinery begins operations, would total $37 million and rise to $215 million by 2020, according to AltaCorp estimates. World's only refinery designed from the ground up to incorporate gasification and a carbon capture and storage solution. © 2020 Financial Post, a division of Postmedia Network Inc. All rights reserved. North West Redwater Partnership offers a challenging and rewarding work environment that you can be proud to be part of. After a decade of having to explain that North West Upgrading was building a refinery that produces high value finished products, and not an upgrader that makes bitumen into synthetic crude, the name of the company was changed to North West Refining in 2016. North West Redwater Sturgeon Refinery investors seek an early exit: report, Opinion: Why building new refineries in Canada is uneconomic and undesirable, Alberta refinery project faces delay as cost rises to $8.5B.

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