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Alberta

First test production of plastic a milestone for Heartland Petrochemical Complex

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CALGARY — The $4.3-billion Heartland Petrochemical Complex, which has been under construction northeast of Edmonton since 2018, has produced its first plastic pellets.

Owner and operator Inter Pipeline Ltd. said Tuesday the newly commissioned facility has been producing test pellets steadily since late June, an important milestone en route to the expected start of full commercial operation sometime this fall.

The Heartland Petrochemical Complex will convert Alberta propane into 525,000 tonnes per year of polypropylene beads, an easily transported form of plastic that is used in the manufacturing of a wide range of finished products.

Steven Noble, spokesman for Calgary-based Inter Pipeline, said the facility will be the first integrated propane dehydrogenation and polypropylene production facility in North America. He said approximately 70 per cent of Heartland’s total production capacity has been already contracted out to long-term customers.

“Through the duration of the project’s construction, we’ve seen demand for polypropylene increase significantly … including at one point hitting an all-time record (market price),” Noble said in an interview. “The demand that we initially forecast certainly hasn’t gone away.”

The Heartland facility is being built with the support of a $408-million grant from Alberta’s provincial government. The cash grant, part of an incentive program aimed at growing the province’s petrochemicals sector, is to be paid to Inter Pipeline in equal instalments over three years once the complex is operational.

Noble said by creating a new market for propane, the Heartland facility is an example of how natural resource development in Alberta is diversifying.

“The fact that we’re now looking at our raw resources in a different way, and figuring out different ways to get value out of them and create other refined products right here at home … is really the part of the story that everyone here is excited about,” he said.

The Heartland Petrochemical Complex is expected to employ 300 people once fully operational.

The polypropylene produced at the facility will be branded as Heartland Polymers.

This report by The Canadian Press was first published July 5, 2022.

Amanda Stephenson, The Canadian Press

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Alberta

Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

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CALGARY — Cenovus Energy Inc. has reached a deal with British energy giant BP to buy the remaining 50 per cent stake in the BP-Husky Toledo Refinery for $300 million.

The Calgary-based oil producer has owned the other 50 per cent of the Ohio-based refinery since its combination with Husky Energy in 2021.

Cenovus says its U.S. operating business will take over operations when the transaction closes, expected before the end of the year.

The company says the Toledo refinery recently completed a major, once in five years turnaround to improve operational reliability.

It says the transaction will give Cenovus an additional 80,000 barrels per day of downstream throughput capacity, including 45,000 barrels per day of heavy oil refining capacity.

The deal brings Cenovus’ total refining capacity to 740,000 barrels per day.

Alex Pourbaix, Cenovus president and CEO, says fully owning the Toledo refinery provides an opportunity to further integrate the company’s heavy oil production and refining capabilities, including with the nearby Lima Refinery.

“This transaction solidifies our refining footprint in the U.S. Midwest and increases our ability to capture margin throughout the value chain,” he said in a statement.

This report by The Canadian Press was first published Aug. 8, 2022.

Companies in this story: (TSX:CVE)

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Alberta

Nutrien names Ken Seitz president, CEO amid sweeping changes in agriculture markets

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Saskatoon-based fertilizer giant Nutrien Ltd. has named Ken Seitz president and CEO following a months-long global talent search. 

The company says Seitz, who has served as interim CEO since January and previously headed up its potash operation, brings 25 years of experience in agriculture and mining to the role.

Nutrien says it has achieved record results under Seitz’s leadership amid sweeping changes in agricultural markets and unprecedented global food security challenges.

Russ Girling, chairman of Nutrien’s board of directors, says the company’s record performance during some of the most turbulent times in the sector underscore the strength of Seitz’s leadership. 

Seitz, who grew up on a dairy farm in Saskatchewan, says he’s “honoured and humbled” to work alongside growers during challenging times.

He says Nutrien is well positioned to help meet the global goals of food security and climate action.

This report by The Canadian Press was first published Aug. 8, 2022.

Companies in this story: (TSX:NTR)

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