Delaware City Refinery
Encyclopedia
The Delaware City Refinery, currently owned by Delaware City Refining Corporation, is an oil refinery
in Delaware City, Delaware
. When operational it has a total throughput capacity of 210000 oilbbl/d, and employs around 570 individuals.
The refinery was commissioned in 1956 and Getty Oil
operated it up until 1984, when Texaco
bought Getty. In 1988, Star Enterprises, a company started when Saudi Aramco
bought half interest, took over the refinery until 1998, when Motiva Enterprises
, a joint venture between Star(Saudi Aramco) and Shell, operated it. Motiva's operation was the most controversial, with many lawsuits resulting from an explosion and many federal emission regulations violations. Premcor Refining Group bought the refinery from Motiva in 2004, but Valero acquired Premcor a year later.
On 20 November 2009, the refinery was shut down permanently as part of cost cutting measures by Valero Energy Corporation. Anticipated economic impacts of the closure include major reductions in tax revenue and retails sales for Delaware City, increased materials acquisition cost for petroleum products re-sellers and an increase to consumer gasoline prices in the longer term.
On January 25, 2010, Petroplus
, the largest independent refining company in Europe, announced its interest in buying the refinery.
In June 2010, it was announced that the Delaware City Refinery was purchased by PBF Energy Partners for $220 million. The refinery is expected to reopen in Spring 2011.
Oil refinery
An oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas...
in Delaware City, Delaware
Delaware City, Delaware
Delaware City is a city in New Castle County, Delaware, United States. The population was 1,695 at the 2010 census. It is a small port town on the eastern terminus of the Chesapeake and Delaware Canal and is the location of the ferry to Fort Delaware on Pea Patch Island.-Geography:Delaware City is...
. When operational it has a total throughput capacity of 210000 oilbbl/d, and employs around 570 individuals.
The refinery was commissioned in 1956 and Getty Oil
Getty Oil
Getty Oil is an oil company founded by J. Paul Getty. It was at its height during the 1960s. In 1971, the Getty Realty division was formed to manage the real estate needs of Getty stations. The division was later spun off, but now owns the rights to the Getty brand...
operated it up until 1984, when Texaco
Texaco
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
bought Getty. In 1988, Star Enterprises, a company started when Saudi Aramco
Saudi Aramco
Saudi Aramco , officially the Saudi Arabian Oil Company, is the national oil company of Saudi Arabia.Saudi Aramco is the world's largest and most valuable privately-held company, with estimates of its value in 2011 to be $7 trillion USD.Saudi Aramco has both the largest proven crude oil reserves,...
bought half interest, took over the refinery until 1998, when Motiva Enterprises
Motiva Enterprises
Motiva Enterprises, LLC, is a 50–50 joint venture between Shell Oil Company and Saudi Refining...
, a joint venture between Star(Saudi Aramco) and Shell, operated it. Motiva's operation was the most controversial, with many lawsuits resulting from an explosion and many federal emission regulations violations. Premcor Refining Group bought the refinery from Motiva in 2004, but Valero acquired Premcor a year later.
On 20 November 2009, the refinery was shut down permanently as part of cost cutting measures by Valero Energy Corporation. Anticipated economic impacts of the closure include major reductions in tax revenue and retails sales for Delaware City, increased materials acquisition cost for petroleum products re-sellers and an increase to consumer gasoline prices in the longer term.
On January 25, 2010, Petroplus
Petroplus
Petroplus Holdings AG is Europe's largest independent oil refiner.-History:When the company first formed in 1993 it was known as Petroplus International N.V. being based in the Netherlands. In 1997, it acquired the Antwerp N.V. Refinery from the Daewoo Group. In August 1998, it was listed on the...
, the largest independent refining company in Europe, announced its interest in buying the refinery.
In June 2010, it was announced that the Delaware City Refinery was purchased by PBF Energy Partners for $220 million. The refinery is expected to reopen in Spring 2011.