Par Petroleum Corporation has announced that its subsidiary, Hawaii Pacific Energy, LLC, has completed its purchase of Tesoro Hawaii, LLC from Tesoro Corporation. The purchase price is comprised of US$ 75 million in cash plus market value of net working capital and a contingent earnout payment of up to US$ 40 million. The acquired assets include a 94 000 bpd capacity refinery; storage capacity for 2.4 million bbls of crude oil and 2.5 million bbls of refined products; storage capacity for 2.4 million bbls of crude oil and 2.5 million bbls of refined products; and related logistics assets, including five refined product terminals, 27 miles of pipelines and a single point moorning terminal. In addition Hawaii Pacific Energy has rights to sell gasoline through a network of 31 Tesoro branded retail stations in Hawaii. Tesoro Hawaii, which will be renames Hawaii Independent Energy LLC, will operate as a separate wholly owned subsidiary of Par Petroleum and will be headquartered in Oahu, Hawaii.
Work at the Whiting refinery is coming closer to completion. There are now apparently 7000 people working on the project which is approximately half the number of workers at the peak of construction. The refinery’s wastewater treatment plant was recently finished, as was work on the new north flare stack. The project is worth US$ 3.8 billion and is the largest private sector investment in Indiana’s history.
Michael Ramsey of New Orleans has been accused of sealing portable computers from the Phillips 66 Alliance refinery in Belle Chasse. The Plaquemines Parish Sheriff’s Office arrested Ramsey for the theft, which he apparently carried out to support a drug habit and help a relative with medical bills. The total value of the computers stolen is approximately US$ 50 380.
Earlier this week roads near the BP refinery in Oregon were closed due to a release. Cedar Point Road was closed at Otter Creek Road and it was not known at the time of writing what the released substance was.
Rock River Resources has apparently said that it is going to build a new 10 000 bpd refinery and rail terminal in Green River. The new plant is expected to cost US$ 230 million and construction is expected to begin this year. It is thought the plant will be operational by the middle of 2015 with a second phase being operational in the middle of 2016.
Brian Popp, an assistant professor at the C. Eugene Bennett Department of Chemistry at West Virginia University has been given a grant. The grant is awarded by the American Chemistry Society – Petroleum Research Fund Doctoral New Investigator Grant for Popp’s research on transition metal catalysed reactions of petrochemical raw materials.
There is an investigation going on into smoke that was flared from the Wyoming Refining co refinery in Newcastle. The flaring happened on Sunday 22nd September from the same unit that caused problems with the state regulators in 2012. The flaring was likely caused by a power outage in the area due to a thunderstorm.
Edited from various sources by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/30092013/north_america_late_sept_news_roundup698/