Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Co. and Shell Chemical LP, subsidiaries of Royal Dutch Shell plc (Shell), have reached an agreement for the sale of the Mobile Chemical LP refinery in Mobile, Alabama, to Vertex Energy Operating LLC (Vertex Energy). Vertex Energy is a US-owned, Texas-based specialty refiner of alternative feedstocks and marketer of high purity petroleum products.
The divestment is part of Shell’s strategy to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses. These high-value energy and chemicals parks will produce more low-carbon fuels and specialty chemicals for its customers.
“The sale of the Mobile refinery shows that we are making good progress delivering on our manufacturing strategy,” said Robin Mooldijk, Shell’s EVP for Manufacturing. “We’re becoming better positioned to deliver resilient returns and meet the increasingly diverse needs of our customers.”
“The agreement covers the sale of the Mobile refinery and associated co-located logistics infrastructure, including product racks, an associated dock, and the Blakeley Island terminal. The consideration for this transaction is US$75 million in cash plus the value of the hydrocarbon inventory. This transaction is expected to close in Q421, subject to regulatory approvals.
Read the article online at: https://www.tanksterminals.com/terminals/27052021/shell-sells-alabama-refinery-to-vertex-energy/
You might also like
Square Robot is celebrating the launch of a series of in-service storage tank inspections in partnership with the Tennessee Valley Authority (TVA) through the Electric Research Power Institute’s (EPRI) Incubatenergy® Labs Cohort program.