July 19, 2010 at 1:30 pm #2584
PBF Energy Partners LP Prepares to Restart Refinery in Delaware, an Industrial Info News Alert
SUGAR LAND, TX–(Marketwire – July 15, 2010) – Researched by Industrial Info Resources (Sugar Land, Texas) — In June 2010, PBF Energy Partners LP completed a transaction to purchase Valero Energy Corporation’s (NYSE:VLO) (San Antonio, Texas) Delaware City refinery for $220 million. The acquired assets include a 190,000-barrel-per-day refinery that is currently idle; an associated terminal and pipeline; and a 218-megawatt power plant complex.
Other companies featured: Petroplus Holdings AG (VTX:PPHN), The Blackstone Group (NYSE:BX).
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July 19, 2010 at 1:31 pm #5537
Here is update on the sale of Valero’s Delaware Fluid Coking Refinery to PBF Partners (O’Malley & folks) and looks like it is already slated for start-up. You will remember on recent news items it was delisted in Jan 2010 EIA US Refinery list & was part of capacity drop shown by them.
Although technically correct – as one few complex refineries on East Coast this should have always been in the “idled” category as it went thur a sales process.
I still wonder if the stringent guarantee’s Valero had make to Delaware on this plant due to Motiva/Texaco Gasification long history of bad environmental track record wasn’t really behind the shutdown ….. or at least more so than bad economics. I know Valero would have required big guarantees from Motiva & GE(took over Texaco technology) that if they invested more funds the problems would be cured…..and they were not (way too many crashes for the fluid coker & gasifer/power plant to ever run right). Perhaps the closure triggered the payoff for these guarantee’s??
August 28, 2010 at 9:27 am #5503
<Here is update on Delaware Fluid coking refinery & it’s planned restart by new owners after a turnaround Spring 2011.
-C Randall >
PBF Energy to Restart Refinery After Plant-Wide Overhaul
By Jennifer Booton
Published August 27, 2010 FOXBusiness
PBF Energy Partners said it plans to restart its 182,000 barrel a day refinery in Delaware City, Del., next spring after completing a plant-wide turnaround, according to a report by Reuters.
The overhaul, expected to last nine months, will most likely cost between $125 million and $150 million. Valero Energy, which owned the refinery until selling it to PBF for $220 million in June, shuttered it last November because it was losing $1 million a day.
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