Limetree Bay Ventures closes US$1.25 billion financing for refinery restart
The facility is located in St. Croix, US Virgin Islands.
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The facility is located in St. Croix, US Virgin Islands.
Flattening year-over-year growth in gasoline demand in the United States, combined with high levels of refinery output, have contributed to low or negative motor gasoline refining margins for refiners along the East and Gulf Coasts.
Acquisition connects assets in Hawaii, Pacific Northwest and the Rockies.
Linde and PBF Energy have broken ground for a hydrogen plant being built with PBF’s subsidiary.
A proposed pipeline would serve both the St. James complex and Plaquemines Liquids Terminal in Louisiana.
The company has signed a long-term agreement with FirstElement Fuel Inc.
Praxair will build two vacuum pressure swing adsorption (VPSA) plants at the facility, which is under construction and expected to start up operations in early 2020.
As the EPA finalises ethanol volumes for 2019 and biodiesel volumes for 2020 under the Renewable Fuel Standard, the American Petroleum Institute urged the agency to protect consumers from the ethanol blendwall and to continue to reject efforts by some to reallocate volumes from small refinery exemptions.
The API’s latest statistical report shows that October demand was the strongest since 2006.
The agreement was accompanied by the launch of engineering studies on the project.
Tolling, supply and offtake covered under the agreement.
The transaction represents approximately 20% of Green Plains’ reported ethanol production capacity.