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Shell may close Montreal refinery
5 June 2010: Royal Dutch Shell Plc (RDSa.L) is likely to proceed with plans to close its Montreal refinery and convert it to a fuel terminal after deeming two EOIs in buying the plant too cheap.
Shell expects to start shutting the 76-year-old refinery's major processing units in September. The closure will leave Quebec with two refineries.
The company had announced plans to shut the 1,30,000 bpd plant in January 2010, but at the request of the Quebec Government gave potential suitors more time to make proposals.
Source: Reuters