A Newfoundland businessman involved in the offer to buy the Come By Chance oil refinery wonders if the owners really wish to sell. In fact, Dean MacDonald thinks that Silverpeak may be intent on converting the operation to a tank farm. However, the Minister of Energy says that the concept has never been discussed with him.

Word emerged yesterday that Silverpeak—the owner of North Atlantic Refinery Limited—found Origin International’s first offer unsatisfactory, and rejected the expression of interest.

It was concerned about Origin’s financial capacity and concluded that such a transaction would not be in the best interests of Newfoundland and Labrador.

MacDonald is baffled by the conclusion as North Atlantic Refining Limited asked for and got a temporary increase in fuel prices, a move which MacDonald says would cost taxpayers about $30-million a year.

He also says there’s an environmental disaster in the making with a million barrels of oil in a sludge pond. MacDonald believes Origin is the only company to have made a bid for the refinery.

Andrew Parsons, the Minister of Industry, Energy and Technology, says the provincial government assumed the environmental liability under the previous government in 2014, so that has never been an issue or hindrance in any potential sale.

As for the tank farm, that is not on the table. He says he is not supportive of that, and nothing of that sort has been brought to his attention. His goal is to have a fully operational refinery.