“One of the world’s largest logging companies is looking to get into the oil business.
Canfor is in the early phases of developing what would be the first ever commercial-scale biocrude oil plant. The logging company is looking to convert wood waste from its pulp mills into mass quantities of crude oil at a new facility in Prince George.
“In the next few years we’ll be announcing a project and building a real facility that will produce upwards of 400,000 barrels of oil a year,” said Bret Robinson, president of Canfor Pulp.
The impending project comes after Canfor formed a joint venture with Australian biofuel production start-up Licella to explore the economic possibilities for large-scale biocrude production plants.”