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Oil producer Hilcorp eyes purchase of shut Louisiana refinery -sources
Posted on 9/26/21 at 9:33 am
Posted on 9/26/21 at 9:33 am
quote:
HOUSTON, Sept 24 (Reuters) - Houston-based oil producer Hilcorp (HILCO.UL) is evaluating Phillips 66's (PSX.N) refinery in Alliance, Louisiana, for conversion into an oil export terminal, said four sources familiar with the matter, a move that would eliminate it as a source of motor fuels.
Hilcorp, the largest privately owned U.S. oil producer, with operations from Alaska to Pennsylvania to Texas, did not reply to questions about its interest in the facility, which occupies 2,400 acres along the Mississippi River.
The sources said a buyer was scheduled to visit the refinery this week.
Phillips 66 declined to comment on a buyer's possible visit to the refinery this week.
The hurricane-damaged refinery remains for sale and its "marketing process is ongoing,” said Phillips 66 spokesperson Bernardo Fallas. The company plans to repair the storm damages and restart the facility, he said.
quote:
“The U.S. refining business in the future is going to be smaller, not bigger,” Phillips 66 Chief Executive Officer Greg Garland said last month as he laid out plans to advance businesses in renewable diesel, hydrogen and materials for electric-car batteries.
quote:
The Alliance refinery is one of three along the Gulf Coast that has been offered for sale this year. The other two are LyondellBasell Industries’ (LYB.N) 263,776-bpd Houston refinery and Royal Dutch Shell’s (RDSa.L) shuttered 211,146-bpd Convent, Louisiana, refinery.
The Alliance refinery could still have a future in the current energy transition, said John Auers, executive vice president with refinery-consultants Turner, Mason & Company
“It’s still a viable refinery,” Auers said. “We’ve had a lot of capacity turned off. It could potentially come back pretty strong.”
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Posted on 9/26/21 at 10:04 am to ragincajun03
Hope it gets put back into use as something.
Posted on 9/26/21 at 10:15 am to ragincajun03
Exactly what Louisiana needs. Another refinery.
Posted on 9/26/21 at 10:16 am to ragincajun03
Plan currently is to sell as an operable refinery. Apparently there is still strong interest there, and the recent news on RINs does nothing but help. Should hear more in the coming weeks.
Posted on 9/26/21 at 10:18 am to turnpiketiger
quote:
Exactly what Louisiana needs. Another refinery.
Are you this retarded? It’s an existing facility
Posted on 9/26/21 at 10:20 am to Sum3rian
quote:
recent news on RINs does nothing but help
What news?
Posted on 9/26/21 at 10:21 am to ragincajun03
Is Alliance still down? Could have swore I saw their SOX scrubber operating.
Posted on 9/26/21 at 10:21 am to ragincajun03
Hilcorp paid for a large chunk of my college. I approve
This post was edited on 9/26/21 at 10:21 am
Posted on 9/26/21 at 10:21 am to mytigger
quote:
What news?
Biden looking to lessen the blending mandates.
Posted on 9/26/21 at 10:22 am to Tshiz
quote:
Are you this retarded? It’s an existing facility
...and it's EXACTLY what Louisiana needs.
Posted on 9/26/21 at 10:23 am to moneyg
If anyone can turn that thing around and make a profit it is hilcorp
Posted on 9/26/21 at 10:23 am to turnpiketiger
quote:
Exactly what Louisiana needs. Another refinery.
Rather have another working refinery than another idle refinery! And believe it or not, makes a lot of idle refineries cause higher prices at the pumps..Thank you Joe Biden!
Posted on 9/26/21 at 10:28 am to turnpiketiger
quote:Let me guess you want some pussy arse wind turbines instead?
Exactly what Louisiana needs. Another refinery.
This post was edited on 9/26/21 at 10:29 am
Posted on 9/26/21 at 10:38 am to ragincajun03
quote:
Hilcorp eyes
Couldn’t help it.
Posted on 9/26/21 at 10:42 am to Lutcher Lad
quote:
Rather have another working refinery than another idle refinery! And believe it or not, makes a lot of idle refineries cause higher prices at the pumps
Judging by the article this will be an idle refinery. They just want the tank farm for exporting.
Posted on 9/26/21 at 11:40 am to fightin tigers
I worked for P66 at Alliance refinery for 3.5 years from 2012-2016. Rumor when I was there was that the refinery was one of their least profitable refineries in their portfolio. Their were rumors they were trying to sell it back then.
Hopefully they get a buyer. Would hate to see another refinery go idle in the state.
Hopefully they get a buyer. Would hate to see another refinery go idle in the state.
Posted on 9/26/21 at 12:06 pm to Tshiz
quote:this is a given based on his comment. He didn’t even read it before commenting.
Are you this retarded?
Posted on 9/26/21 at 12:34 pm to turnpiketiger
I agree. Don’t need no stinkin’ jobs.
Posted on 9/26/21 at 12:35 pm to JasonL79
quote:
2012-2016. Rumor when I was there was that the refinery was one of their least profitable refineries in their portfolio. Their were rumors they were trying to sell it back then.
I believe they were, just not super public like now.
Posted on 9/26/21 at 1:25 pm to turnpiketiger
quote:
Exactly what Louisiana needs. Another refinery.
it is. more stable jobs. another corporation to tax. both a small boost to the pathetic state economy.
you don’t have to like o&g, but you can’t live without it Kenneth
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