Shell To Close Down Montreal Oil Refinery

Law360, New York (June 4, 2010, 5:18 PM EDT) -- Shell Canada Ltd. said Friday it would shutter its Montreal oil refinery, having failed to drum up a suitable buyer for the facility.

The Canadian unit of Royal Dutch Shell PLC received two offers before a June 1 deadline, but both fell short of what the company hoped to attract for its Montreal East Refinery, said Larry Lalonde, a spokesman for Shell Canada.

“We are too far apart on some of the terms put forward to realistically reach an agreement on the sale

of the refinery,”...
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