KNOC signs supply deal for Newfoundland refinery

Wed Oct 12, 2011 5:29pm EDT
 
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CALGARY, Alberta (Reuters) - Macquarie Energy Canada Ltd will supply Korea National Oil Corp's KOILC.UL Newfoundland refinery with oil and buy petroleum products from the plant under a new agreement, state-run KNOC's Canadian unit said on Wednesday.

The deal, which comes into effect in November, replaces an existing agreement for the 115,000 barrel a day refinery in Come By Chance, Newfoundland, Harvest Operations Corp, KNOC's Canadian subsidiary, said in a statement.

It is a continuing agreement that has an initial one-year term. No volumes or dollar figures were disclosed.

Harvest will provide storage tanks for the feedstock and petroleum products and is responsible for vessel loading and offloading, it said.

(Reporting by Jeffrey Jones; editing by Rob Wilson)