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Posted on 6/30/21 at 7:10 pm to sta4ever
Posted on 6/30/21 at 9:47 pm to down time
quote:
I thought Convent still had the ability to feed utilities to a new Praxair module. I guess they may not have completed the project.
That Praxair facility was being built to support the refinery. It was probably about halfway complete. Within a week of Shell’s announcement about shutting down the Convent refinery, they were demobilizing cranes at the Praxair site.
I’m guessing there must be some sort of breakup fee in Praxair’s contract with Shell that at least covers their construction costs. Still blows my mind to think that Praxair could get blind-sided by that kind of news.. you wouldn’t think Shell made a split-second decision to close the refinery.
Posted on 6/30/21 at 9:51 pm to LSUtigerME
quote:
Norco was never really a question. When the divestment of Deer Park was announced, leaving only Norco, it certainly lead to some uncertainty around the site.
To be fair, according to Shell they didn’t intend to sell the Deer Park refinery either. Supposedly Pemex (Shell’s JV partner at that site) made an unsolicited offer to buy Shell’s stake.
But I think the Norco refinery is 100% Shell-owned? That probably makes it considerably less likely to be sold.
Posted on 6/30/21 at 10:09 pm to lostinbr
quote:
But I think the Norco refinery is 100% Shell-owned?
Norco facility is not just a refinery. There is also chemical units throughout the facility. Would be pretty hard to sell off just the refinery units I would think.
Posted on 6/30/21 at 10:27 pm to 2 Jugs
quote:
Norco facility is not just a refinery. There is also chemical units throughout the facility. Would be pretty hard to sell off just the refinery units I would think.
There is a chemical plant at the Deer Park complex too. The chemical plant is 100% Shell-owned, while the refinery was a joint venture between Shell and Pemex.
I have no idea if the Deer Park site is as closely integrated as the Norco site in terms of physical unit locations, but remember that Norco had the same joint venture setup in the not-so-distant past - a chemical plant 100% owned by Shell and a refinery (Motiva) that was a JV between Shell and Aramco. The Deer Park sale is basically the equivalent of what would have happened had Motiva/Aramco kept the Norco refinery in the split.
Stranger things have happened. The old Borden plant in Geismar is now Hexion and Westlake. The old Rhodia site by Exxon is now Solvay and Eco Services. Hell, if you think Norco would be a disaster you ought to take a trip to Dow Plaquemine - there are no less than 5 different companies (just the ones I can think of) operating units inside that facility. Dow has been selling off individual business units periodically for years.
ETA: I also answered my own question - I somehow forgot that the Norco refinery has been 100% Shell-owned since the Motiva split.
This post was edited on 6/30/21 at 10:32 pm
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