Limetree Bay Refining LLC has announced that it has reached a definitive agreement with BP's supply and trading arm for tolling, supply and offtake of the restarted refinery located at Limetree Bay, St. Croix, US Virgin Islands.
This announcement follows on the press release issued on 4 November 2018, which communicated that the parties had reached agreement in principle. Limetree Bay Refining anticipates completion of the restart by late 2019.
Governor Mapp said: "This agreement marks a significant milestone for the refinery restart effort. To date, the project has brought 1100 construction jobs to the Territory. With more than US$1.5 billion of total capital investment in the project, we can look forward to a period of significant growth in employment and the economy. This is a great day for the US Virgin Islands. I thank the representatives of Limetree Bay Refining for their commitment to our Territory and look forward to a long and mutually beneficial relationship."
Read the article online at: https://www.hydrocarbonengineering.com/refining/16112018/limetree-bay-and-bp-reach-agreement-on-st-croix-refinery-restar/