Five refineries go on sale in two years in the US – El Financiero
At least five refineries have been sold in the United States in the past two years, according to the US Energy Information Administration (EIA).
In 2019, three deals were executed; The first was in January when the Trailstone LP located in Tacoma, Washington, was sold to Par Pacific Holdings; Whereas in May of the same year, Chevron bought a refinery from Petrobras, Texas.
Later, in November 2019, Starlight Relativity Acquisition acquired Calumet Specialty Product Partners, which is also located in San Antonio, Texas.
This year, Shell sold two refineries to reduce greenhouse gas emissions by 20 percent in a decade and to zero by 2050.
It should be remembered that last week a Dutch court ordered Royal Dutch Shell to lower levels to 45% by 2030.
The fourth operation also took place last week, when Shell closed the sale of 50 percent of the shares of its Deer Park refinery in Houston, Texas, to Pemex. A day later, on May 26, Shell sold the Alabama refinery to Vertex Energy, a Texas-based refiner of alternative raw materials and a marketer of high-purity petroleum products.
“ In 2019, more sales were seen in the panorama, and in 2020 there were impacts due to the destruction of the profit margins of the refining business, and this year in particular due to environmental policies as governments and financial institutions exert pressure to punish with higher emissions costs, ” commented one analyst, who asked not to be mentioned. His name: “Sales are speeding up”.
“In the future, we will see coal-fired plants and refineries shut down and convert them, because there are already economic incentives to do so and convert it into gray or green hydrogen. Starting this year, we will see the United States as a global leader in terms of investment in terms of energy transition and decarbonization.
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