In Canada, Energy services company Cancen Oil Canada has finalised the acquisition of Astra Energy Canada’s Kinsella crude oil terminal and blending facility located in Hardisty, Alberta.
Cancen initially announced the agreement in May earlier this year.
Cancen purchased the facility for $5 million (€4 million); $4.5 million cash and a $500,000 promissory note bearing interest at prime plus 2% secured against the facility and due on 31 October 2012.
The terminal is connected to the Inter Pipeline Bow River pipeline system in Alberta’s Beaver County and the blending facility can blend and store 500m3 a day of sweet, sour and heavy clean crude. It was originally put into operation in 2004, serving producers based in west Canada.
In May, Tank Storage magazine reported that Cancen planned to enhance the facility the treat waste oil and handle wastewater, while keeping capacity the same.