ConocoPhillips seeks buyer for Trainer, Pa., refinery

ConocoPhillips plans to sell its 185,000-b/cd refinery in Trainer, Pa., and associated pipelines and terminals. The major plans to close the plant in 6 months unless a buyer is found.
Sept. 27, 2011

ConocoPhillips plans to sell its 185,000-b/cd refinery in Trainer, Pa., and associated pipelines and terminals. The major plans to close the plant in 6 months unless a buyer is found.

Meanwhile, ConocoPhillips immediately will begin the process of idling the refinery.

Willie Chiang, ConocoPhillips senior vice-president of refining, said, “US East Coast refining has been under severe market pressure for several years.” He attributed this to product imports, weakness in motor fuel demand, and what he called “costly regulatory requirements.”

The company expects a noncash asset impairment of $300 million after tax in its third-quarter financial results.

ConocoPhillips will redeploy employees to other positions within the company where possible. Employees who are not redeployed will receive severance benefits and job placement services.

About the Author

Paula Dittrick

Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.

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