The provincial government is expressing cautious optimism with news of an offer to purchase the Come By Chance oil refinery.

Origin International has confirmed it has made an offer to buy the refinery as well as North Atlantic Refining’s retail outlets. However, energy minister Andrew Parsons says while he’s very happy with the development, he won’t rest or relax until a deal is done.

That’s due largely to the fact that the government has little say in such a large transaction between two private companies—Origin and current owners Silverpeak.

Parsons noted the proposed sale also comes at a time when refineries around the world continue to be bought, sold, repurposed and even scuttled.

The minister acknowledged time is of the essence, given the need to keep the refinery in warm idle mode as winter bears down on the province.

Nor is the government putting all its eggs in one basket, with Parsons confirming there are still other groups expressing interest in Come By Chance.

Origin, meanwhile, says it wants to bring the refinery back to full capacity with steady employment.

Earlier Story

Origin International Makes Formal Bid for Come By Chance Oil Refinery