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re: Shell selling Convent refinery
Posted on 7/7/20 at 11:09 am to fightin tigers
Posted on 7/7/20 at 11:09 am to fightin tigers
Motiva seems to be a much better company to run refineries. They are nimble and have much more "common sense" than Shell. Shell seems to be almost run like a bloated slow federal government entity at times.
Plus they aim to be carbon neutral by 2050. I guess for now they are trying to focus on more profitable assets.
Shell is great at their offshore deepwater stuff and more technically advanced things.
Plus they aim to be carbon neutral by 2050. I guess for now they are trying to focus on more profitable assets.
Shell is great at their offshore deepwater stuff and more technically advanced things.
3
Posted on 7/7/20 at 11:11 am to notiger1997
quote:
Why?
If you have to ask then you're not woke enough for me
Posted on 7/7/20 at 11:11 am to notiger1997
Not sure if you work for Shell or not, but you nailed it here.
Posted on 7/7/20 at 11:12 am to MikeD
quote:
That place has had quite a few names.
Right? Texaco, Star Enterprise....
Posted on 7/7/20 at 11:13 am to notiger1997
Motiva indicated they were looking into buying up some refineries last year.
I know they are serious and were in talks that have since cooled off.
Would think this refinery fits their plan. Not sure Convents position with concern to MARPOL.
I know they are serious and were in talks that have since cooled off.
Would think this refinery fits their plan. Not sure Convents position with concern to MARPOL.
Posted on 7/7/20 at 11:13 am to whackinandstackin
I used to work in the industry and have some friends still at Convent. They have all been hoping that Shell would sell them
Posted on 7/7/20 at 11:15 am to notiger1997
Does anybody have a link to this to this rumor? I’m not seeing anything online. Who is the prospective buyer?
Posted on 7/7/20 at 11:16 am to bgbam07
PBF Energy bought the Shell Martinez Refinery
Posted on 7/7/20 at 11:16 am to bgbam07
Prospective buyer has not been announced. I don’t think it’s been announced by rigzone, etc yet, but it’s definitely true.
Posted on 7/7/20 at 11:21 am to wileyjones
quote:
Shell selling Convent refinery
That place made me a lot of money when I was driving Hot Shot.
My best delivery came from there. I picked up an Industrail washer on a Saturday heading to a place just outside of Pittsburgh, PA to deliver Monday morning.
The box was so small I put it in my carry on bag and booked a flight that day for $321.
Posted on 7/7/20 at 11:31 am to whackinandstackin
It's going to be interesting to see how Norco plays out with all of this.
Posted on 7/7/20 at 11:38 am to TheWiz
It's been Shell for a few years now. Motiva is only Port Arthur since the split
Posted on 7/7/20 at 11:38 am to notiger1997
Yes it will be. Norco is integrated with chemicals. So, I don’t see Shell selling them anytime soon.
Posted on 7/7/20 at 11:44 am to whackinandstackin
Good. frick Shell.
Posted on 7/7/20 at 11:47 am to wileyjones
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
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
Posted on 7/7/20 at 11:48 am to wileyjones
Is there a link you can share? You work there?
Posted on 7/7/20 at 11:54 am to TT
No link yet, but it’s legit.
Posted on 7/7/20 at 11:55 am to tgrbaitn08
quote:
If you have to ask then you're not woke enough for me
It took me a moment to get this. My woke neighbor posted something about he supporting the black out today and it clicked.Posted on 7/7/20 at 11:56 am to TT
At this time, it’s only being communicated internally.
Posted on 7/7/20 at 11:57 am to whackinandstackin
Sounds like it's external now mfker.
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