Shell Sells Washington Puget Sound Refinery To HollyFrontier

[wemay]

Shell Sells Washington Puget Sound Refinery To HollyFrontier

/PRNewswire/ -- Equilon Enterprises LLC d/b/a Shell Oil Products U.S. (Shell), a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of...

www.prnewswire.com

HollyFrontier is headquartered in Dallas, Tx.

 

[wpod]

Selling out while the selling is good? I wonder what the real reason was ?

 

[Davejam]

Selling out while the selling is good? I wonder what the real reason was ?

Real Reason...? Cash money.

 

[wpod]

Real Reason...? Cash money.

Shell needs the cash or they are just making a profit on the facility?

 

[nthach]

Shell needs the cash or they are just making a profit on the facility?

Downstream(refining and marketing) isn’t as profitable as upstream(exploration, drilling, crude distribution) as well.

Shell has been offloading refining - they recently sold their Martinez, CA facility to PBF. Same operators as the former XOM refinery in Torrance, CA.

 

[Snagglefoot]

It was a 149,000 bbl/day facility. That’s tiny in Shell’s world. Couple that with green issues in Washington State and it’s not worth it for Shell. Shell is actively getting rid of or closing small refineries. They are interested in large refining and chemical complexes due to their efficiencies including energy efficiency and you know what emissions. Holly Frontier makes Petro-Canada lubricants up in Canada.

 

[PimTac]

It was a 149,000 bbl/day facility. That’s tiny in Shell’s world. Couple that with green issues in Washington State and it’s not worth it for Shell. Shell is actively getting rid of or closing small refineries. They are interested in large refining and chemical complexes due to their efficiencies including energy efficiency and you know what emissions. Holly Frontier makes Petro-Canada lubricants up in Canada.

Yep. The state has been active in fining Shell for any violations.

 

[nthach]

It was a 149,000 bbl/day large refining and chemical complexes due to their efficiencies .

yep - BASF started that trend of “co-locating” within a refinery for easy access to feedstocks - build the complimentary plants next to it. Lower logistics costs, more efficient. I think they called it a Verbund site.

 

[4WD]

Shell to sell interest in Deer Park refinery to Pemex

In an unsolicited offer, Pemex will pay $596 million, with a combination of cash and...

www.houstonchronicle.com