Desmond oil firm seeks funds and partners for refinery

The Dermot Desmond-backed Newfoundland and Labrador Refining Corporation (NLRC), which is planning to build a $4.6 billion oil refinery in Canada, is in talks with potential funders and partners in the oil industry.

7th April, 2007

The Dermot Desmond-backed Newfoundland and Labrador Refining Corporation (NLRC), which is planning to build a $4.6 billion oil refinery in Canada, is in talks with potential funders and partners in the oil industry.

The company has completed a feasibility study for the proposed refinery, which would produce 300,000 barrels of oil a day - or 109.5 million barrels a year.

It is now discussing debt financing with banks and has hired Aegis Energy Advisors, a New York bank...

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