By OGJ editors
HOUSTON, Aug. 9--Western Refining Inc. is suspending operations at its 70,000-b/d Yorktown refinery in York County, Va.
Citing “the poor outlook for East Coast refining margins,” the company said in a press statement that it will continue to operate the Yorktown products terminal.
In the statement, the company said it “is evaluating all strategic alternatives, and if the situation improves would consider restarting refining operations.”
It said the shutdown will take 6 weeks.
The refinery has fluid catalytic cracking and coking units in addition to distillate and naphtha hydrotreating, reforming, and LPG polymerization units.
Western Pres. and Chief Operating Officer Jeff Stevens called the move a “necessary decision driven by the ongoing challenging refining margin environment experienced on the East Coast, the continued low price differentials between light-heavy crudes, and poor coking economics.”
The announcement came as Western reported net income of $14.4 million for the quarter that ended June 20. In the comparable quarter of 2009 the company lost $28.5 million before extraordinary items.
Western also has a 125,000 b/d refinery in El Paso and a 40,000 b/d refinery near Gallup, NM.
Photo from SABIC Limburg BV.
Photo from Petróleo Brasileiro SA (Petrobras).
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