hovensa

Neil, I like an optimist but.....

For Hess, we increasingly believe the company will need to consider closing or divesting its Hovensa (St. Croix) refinery given
ongoing losses—similar to actions announced by ConocoPhillips and others at their East Coast facilities. We now assume action will
be taken at Hovensa by mid-2012.

HESS to announce closure of HOVENSA in May. They’ve already been ordered to idle several units, and the FCC/Coker are running at their bare minimum. 60-80k BPD right now.

Neil, I like an optimist but.....

For Hess, we increasingly believe the company will need to consider closing or divesting its Hovensa (St. Croix) refinery given
ongoing losses—similar to actions announced by ConocoPhillips and others at their East Coast facilities. We now assume action will
be taken at Hovensa by mid-2012.

HESS to announce closure of HOVENSA in May. They’ve already been ordered to idle several units, and the FCC/Coker are running at their bare minimum. 60-80k BPD right now.

I'm confused - are you a spokesperson for Hess/Hovensa?

Now I'm doubly confused. This is a thread started in December 2010 by the same OP on the same subject which you've managed to revive when a new thread was started on exactly the same subject yesterday ...

Neil,

"What we should really worry about is if it becomes cheaper to ship & refine in China. (Maybe it already is)."

Not China yet, they are using all they make, but... India.

Jamnagar Refinery (Reliance Industries Limited) Jamnagar, Gujarat, India 1,240,000 BBL/Day
That is more than 3 times HOVENSA current capacity.

The theme from "The Twilight Zone" is starting to circle.

The theme from "The Twilight Zone" is starting to circle.

:@):@):@)

sorry, new to the forum. Did not know there was a new thread. was directed to the wrong thread i guess.

No, I am not a spokesman.

Neil, I like an optimist but.....

For Hess, we increasingly believe the company will need to consider closing or divesting its Hovensa (St. Croix) refinery given
ongoing losses—similar to actions announced by ConocoPhillips and others at their East Coast facilities. We now assume action will
be taken at Hovensa by mid-2012.

HESS to announce closure of HOVENSA in May. They’ve already been ordered to idle several units, and the FCC/Coker are running at their bare minimum. 60-80k BPD right now.

It's good to be an optimist, even in the face of trouble.

My main point was that Hess has a partner that can afford to step in, and there are others in the oil business who might see it an opportunity to snatch up a bargain.... let's hope.

My heart breaks for those who have made a life here around their refinery job. It's a story that's been repeated throughout the mainland in countless small towns, ...which is essentially what we are here.

this thread is a perfect example to show that the closure talk is NOT credible. This thread was started in 2010 and the "closure" talk is now back again.

There has been talk about this plant closing since the 70s and it's obviously still open. The talk usually intensifies when it's close to renegotiation of the refinery's deal with the govt.

Cruz,

I will refer you to the open thread. This is pretty credible. Multiple sources not on island have verified that the shareholder meeting will be the last of the plant as it is known now.

this thread is a perfect example to show that the closure talk is NOT credible. This thread was started in 2010 and the "closure" talk is now back again.

There has been talk about this plant closing since the 70s and it's obviously still open. The talk usually intensifies when it's close to renegotiation of the refinery's deal with the govt.

Cruz, looks a little more credible this morning i guess. Not everyone out there on the internet is a moron.

...
Cruz, looks a little more credible this morning i guess. ....

And we welcome ScubaSteve as another valued member of 'Club Snarky' - well played sir 😎