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Hess to close last
refinery in New Jersey

Hot Air, by Jazz Shaw

Original Article

Posted By:MissMolly, 2/4/2013 4:39:41 AM

This story went mostly under the radar, but it will have some implications for many people on the east coast and for the industry in general further down the line. Without much fanfare, Hess recently announced that they were selling off their last commercial refinery, located in New Jersey. Their stated reasons are clear enough, but there’s a bit more to the story. Hess Corp.’s Port Reading, N.J., refinery—the company’s first and last such facility—will close its doors at the end of next month as the company gets out of the refining business to focus on more-

Comments:
It all points back to Keystone.

      


Post Reply  

Reply 1 - Posted by: agility, 2/4/2013 4:47:22 AM     (No. 9156810)

Actually it has more to do with new environmental regulations on sulfur limits. Can´t afford to upgrade the refinery. Closing early due to pressure from shareholder group (hedge fund) lead by Elliott Hess.

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Reply 2 - Posted by: Trigger2, 2/4/2013 5:03:01 AM     (No. 9156815)

Is that refinery going to be sold to China? Enquiring minds want to know.

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Reply 3 - Posted by: woodsman, 2/4/2013 11:50:37 AM     (No. 9157567)

Right you are #1....not to mention the ethanol blends that are being forced down the refineries throats

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Reply 4 - Posted by: oh-heck, 2/4/2013 12:57:07 PM     (No. 9157738)

Someone may buy the refinery. The last one was rescued when someone with really great ties with Obama administration got some regulations waived. This whole administration writes regulations not because they are needed, but because it creates opportunities for pay-offs.

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