Parkland Corporation (PKI.TO), a Canadian fuel distributor and convenience retailer, said on Monday that its Burnaby Refinery has safely returned to normal operations on March 29, following an unplanned shutdown due to extreme cold weather on January 12.
During the shutdown period, the refinery accelerated maintenance and refining optimization work, which is previously scheduled for the third quarter.
As a result, the company expects refinery to deliver composite utilization of around 20 percent and adjusted EBITDA loss of $60 million to $65 million, for the first quarter.
For the first-quarter, the company projects adjusted EBITDA of $300 to $320 million.
For the full year, the company has reaffirmed its adjusted EBITDA outlook of $1.95 billion to $2.05 billion.
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