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Started By
Message
re: Shell selling Convent refinery
Posted on 7/7/20 at 5:03 pm to Oilfieldbiology
Posted on 7/7/20 at 5:03 pm to Oilfieldbiology
quote:
PBF, Valero (maybe), Marathon (doubtful), Delek (also doubtful)
PBF is a hot mess and I'd be shocked if they held on the Chalmette Refining for much longer. They are actually cutting direct head's at the site. I don't believe Valero will get approval and they really are strictly refining. I believe the SEC gave them some grief when they went to by Meraux due to the proximity to the St. Charles Refinery. Marathon is too close and also more in straight refining than any of the chemicals. Delek would be interesting but I am hearing they are cheap and not doing much to Krotz Springs to add to the value. That expansion project has been on and off more than anything else. Lyondell may be of interest, I think it has to be a larger petrochem owner.
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Posted on 7/7/20 at 5:07 pm to back9Tiger
Any chance Phillips buys it?
Posted on 7/7/20 at 5:28 pm to Modern
Posted on 7/7/20 at 5:33 pm to back9Tiger
quote:
Lyondell may be of interest, I think it has to be a larger petrochem owner.
Motiva tried to acquire their refinery in Houston but it fell through.
Posted on 7/7/20 at 5:45 pm to Oilfieldbiology
as far as i know they sold the St. Rose Refinery.
Posted on 7/7/20 at 5:55 pm to back9Tiger
Lyondell has no interest in buying any refinery. The only one they own in Houston is giving them fits and loosing money constantly. They can’t get rid of it fast enough.
Posted on 7/7/20 at 6:02 pm to back9Tiger
Convent still uses Emtrol-Buell cyclone technology which is a bit odd for Shell. Goes against a lot of shite in the DEPs that they basically have to look the other way on.
Posted on 7/7/20 at 6:04 pm to wileyjones
quote:
“The remaining core sites will be advantaged by way of increased integration with Shell trading hubs and by producing more chemicals and related products expected to be resilient in a low-carbon future,” Smith said in an email.
That's impressive, how many buzzwords they can fit into a single sentence.
Posted on 7/7/20 at 6:04 pm to back9Tiger
quote:
Delek would be interesting but I am hearing they are cheap and not doing much to Krotz Springs to add to the value. That expansion project has been on and off more than anything else.
No shite. They cancelled two large projects with my company in the past year. Both over a million dollars and we did enough engineering work that the cancellation terms were pretty ridiculous.
Posted on 7/7/20 at 6:09 pm to back9Tiger
quote:
PBF is a hot mess and I'd be shocked if they held on the Chalmette Refining for much longer.
PBF grew too big, too fast, without the capital in place to manage a downturn. They are also pissy because some of their ITEP stuff got shot down (some of what they were asking for was absolutely absurd).
When CR was owned by XOM/the Venezuelans, it had a pretty good reputation as a good community member (as much as a refinery can be) but a lot of that has been destroyed in recent months.
I know a lot of baws at CR right now with some pretty puckered rear ends.
Posted on 7/7/20 at 6:15 pm to whackinandstackin
quote:
At this time, it’s only being communicated internally.
TIL that TigerDroppings is a Shell front.
Posted on 7/7/20 at 6:18 pm to Batman Chalupa
quote:FB&D, huh?
I work for an engineering and construction consultant firm and we do a lot with Shell.
Posted on 7/7/20 at 6:38 pm to Sum3rian
quote:
Any chance Phillips buys it?
I’ve worked for P66 about 4 of the last 7 years. I don’t know when the last time P66 bought a refinery and I don’t think they are completely happy with Alliance in Belle Chasse. I don’t see them buying Chalmette. Just my opinion though.
I was just at the headquarters in Houston for past year and they were planning to invest heavily in pipelines, chemical, and some refining expansion (Sweeney and Wood River being the bulk). Not sure if that will stay the same with the world’s current state.
Posted on 7/7/20 at 6:50 pm to notiger1997
quote:
quote:
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.
I'm not sure that was the main driver of them splitting.
I worked on the Motiva/Shell side as an owner rep during the split and I was told by Shell people the split was due to strategy differences. Motiva wanted to expand on the refinery side and Shell didn’t. Shell wanted to focus more on chemicals and LNG.
This post was edited on 7/7/20 at 6:51 pm
Posted on 7/7/20 at 6:53 pm to JasonL79
That’s along the lines of what I was thinking
Shell also wanted to take note advantage of their advantage with being able to take oil out the ground all the way through trading/marketing and having it at their gas stations. Some of that was getting a little messy with Motiva
Shell also wanted to take note advantage of their advantage with being able to take oil out the ground all the way through trading/marketing and having it at their gas stations. Some of that was getting a little messy with Motiva
Posted on 7/7/20 at 6:55 pm to TigerstuckinMS
If not FB&D than there is a 2/3 chance I work where he works lol
Posted on 7/7/20 at 6:59 pm to CP3
Hargrove or CDI eh?
Posted on 7/7/20 at 8:21 pm to notiger1997
Know someone that works there. It’s true. Think saudi aramco is buying.
Posted on 7/7/20 at 9:10 pm to wileyjones
Good friend of mine runs that refinery. Will have to check on him.
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