Page 6 - Equilon Enterprises News Today

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Vertex Energy to acquire Mobile, Ala. refinery from Shell and initiate biofuels conversion project By Mary Page Bailey | June 3, 2021 Vertex Energy, Inc. (Houston), a leading specialty refiner and marketer of high-quality refined products, announced that it has entered into a definitive agreement to acquire the Mobile refinery (“Mobile”) located in Mobile, Alabama from Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP (“Shell”), subsidiaries o...

Shell Sells Alabama Refinery To Vertex Energy Houston, TX /PRNewswire/ - Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP, subsidiaries of Royal Dutch Shell plc (Shell), have reached an agreement for the sale of the Mobile Chemical LP Refinery in Mobile, AL, to Vertex Energy Operating LLC (Vertex Energy). Vertex Energy is a U.S. owned, Texas-based specialty refiner of alternative feedstocks and marketer of high purity petroleum products. The divestmen...

Vertex Energy Inc. shares rose 95% to a new 52-week high after an H.C. Wainwright analyst raised the price target on the firm from $4.00 to $25.00 per share following the announcement that Vertex agreed to buy the Mobile refinery assets from Royal Dutch Shell for $75 million.

Royal Dutch Shell has agreed to offload its Mobile refinery in Alabama, US to specialty refiner Vertex Energy.

Source: Shutterstock The refinery the company is purchasing from Royal Dutch Shell’s Equilon Enterprises subsidiary is located in Mobile, Ala. Vertex Energy will spend $75 million to acquire the refinery. The deal is set to close in the fourth quarter of 2021. With this acquisition, the location will become VTNR’s leading refinery. This will allow it to undergo an $85 million conversion by the end of 2022. That conversion is for the refinery’s hydrocracking unit. According to Vertex Energ...

The divestment is part of Shell’s strategy to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses.

Vertex to acquire 100% of Mobile Chemical LP Refinery Transforms Vertex into a Leading Independent Refiner of Renewable and Conventional Products Multi-phase Renewable Diesel Project to Drive Superior

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Royal Dutch Shells (NYSE: RDS.A) subsidiary, Equilon Enterprises LLC d/b/a Shell Oil Products U.S., has reached an agreement for the sale of its Puget Sound Refinery near Anacortes, Washington. Royal Dutch Shell’s (NYSE: RDS.A) subsidiary, Equilon Enterprises LLC d/b/a Shell Oil Products U.S., has reached an agreement for the sale of its Puget Sound Refinery near Anacortes, Washington. The refinery is being sold to a subsidiary of HollyFrontier Corporation, an independent refiner headquartere...