Top U.S. Refiner Evaluating Idle Phillips 66 Plant for Renewable Fuel - Sources
01.29.2022 By Ricardo Perez - NEWS

January 29, 2022 [Reuters] – Marathon Petroleum (MPC.N), the largest refiner in the United States, is evaluating a conversion of Phillips 66’s (PSX.N) Alliance, Louisiana, refinery into a renewable fuel plant, according to people familiar with the matter.

 

The two companies are scheduled to meet next week and tour the 255,600 barrel-per-day refinery, which has been idled since late August, a day before Hurricane Ida roared over the area and swamped the site.

Phillips 66 spokesperson Bernardo Fallas declined to comment.

Marathon spokesperson Jamal Kheiry said the company does not comment on “rumor or market speculation.”

It was unclear if Marathon was interested in acquiring the refinery or operating it through a joint venture with Phillips 66, one of the people said.

Phillips 66 said in November it would convert the Alliance refinery into an oil and refined products terminal to take advantage of its location on the Mississippi River, 20 miles (26 km) south of New Orleans.

Hurricane Ida caused flooding that breached the flood wall around the refinery and inundated control systems causing millions of dollars of damage to the facility.

At least three companies were potential buyers of the refinery before the hurricane struck. They included Hilcorp, Valero Energy (VLO.N) and Saudi Aramco’s Motiva Enterprises (MOTIV.UL), people familiar with the matter had said

Click Here to Access a 10,390 Tank Terminal Database With a Pro Trial

10,390 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Germany Repurposes Underground Gas Storage for Green Hydrogen
05.30.2024 - NEWS
May 30, 2024 [Oilprice]- Germany’s government approved on Wednesday a draft law to enable faste... Read More
Iran to Launch $4.6 Billion Worth of Oil Projects
05.30.2024 - NEWS
May 30, 2024 [Oilprice]- Iran will soon launch 32 oil industry projects worth a total investment ... Read More
Aethon Energy to Buy Tellurian Upstream Assets for $260 Million
05.30.2024 - NEWS
May 30, 2024 [Reuters]- Aethon Energy said on Wednesday it would buy Tellurian’s upstream a... Read More
Exolum Invests €20 Million in New Biofuel and Bulk Storage Terminal
05.30.2024 - NEWS
May 30, 2024 [Biofuels International]- Exolum will build a new terminal for the storage of biofue... Read More