Petroplus to buy Delaware City refinery

By OGJ editors
-- Petroplus Holdings AG has agreed to buy Valero Energy Corp.’s idle refinery at Delaware City and said it plans to resume refining operations after performing “major” maintenance work over the next 9 months.

Valero closed the refinery, capacity of which Petroplus reported as 190,000 b/d, last year after failing to find a buyer (OGJ Online, Nov. 20, 2009).

Through subsidiaries, Petroplus will pay $170 million for the refinery and related assets and $50 million for an affiliated, 218 Mw power plant complex.

The refinery has fluid coking, fluid catalytic cracking, hydrocracking, continuous catalytic reforming, alkylation, and hydrotreating units.

Valero and Petroplus subsidiary PBF Energy Partners LP have been negotiating the transaction since early this year (OGJ, Feb. 1, 2010, Newsletter).

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