Imperial Oil is about to spend upward of a billion dollars at its Sarnia Refinery.
Sources tell First Monday that the company plans to build a new Coker Unit and other upgrades at the refinery, which dates back to 1898.
An official announcement is expected later this month.
Sarnia Mayor Mike Bradley says he is thrilled, adding he has been getting reports from local contractors that Imperial is about to make a major announcement. He says it is good news in light of fears in the late 1980s that the refinery might close.
The refinery has a capacity of about 120,000 barrels a day and is one of Imperial’s most diversified refineries sitting next to a chemicals plant that produces a million tonnes of polyethylene, specialized solvents, olefins, aromatics and plasticizer feedstocks.
Imperial’s Sarnia Research Centre is among the largest and oldest petroleum research centres in Canada which according to an internet search is described as a world – class facility focused on developing and improving lubricating oils and fuels and enhancing refinery processes to improve environmental performance.
Imperial, which is owned by Exxon Mobil of the United States operates three refineries in Canada and a network of terminals.
Company officials were unavailable for comment.