Shell selling Convent refinery

AAPL?

That place has had quite a few names.

Shell Norco is for sale or Motiva Convent?

Who could you see buying it?

Would assume Aramco (Motiva) is the buyer

Shell picked up the refinery in purchase of that part of Texaco along with some subsidiaries. It operated most under Equilon like the refinery in Wilmington (L.A.) CA before selling that one and the one to Flying J that was in Bakersfield, later foreclosed on and back to Shell. Convent and Norco were rolled into its JV with Saudi Arabia, Motiva, that it got in the Texaco deal. After the huge cost overruns, in the billions,(Thank you Sarbanes Oxley) in the Motiva Port Arthur expansion, Shell and the Saudi's split the sheets in the USA.

Anyone who knows the business knows that refining isn't that profitable. It is used more as a vehicle for crude oil trading where the money is.

It still has the refineries in Saraland (Mobile) and St Rose that Shell Chemical had originally purchased to send feedstock to the Norco ethylene cracker. St. Rose (originally from bankrupt Enjet) is closed after reconfiguring as an asphalt producer less than 10 years ago. The Yabucoa PR refinery was torn down almost a decade ago, that was also a Shell Chemical owned plant

Shell is getting out of the fuel refinery business but keeping all their chemical plants.

Good friend of mine runs that refinery. Will have to check on him.