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One of the largest U.S. diesel retailers is assembling a fuels trading, processing and distribution powerhouse that could turn a truck stop operator part-owned by billionaire Warren Buffett into the Walmart of petroleum.
FEATURE: Hafnia Sees Rising Interest in Bunker Buying Alliances by Ship & Bunker News Team Wednesday July 21, 2021 Peter Grunwaldt, Head of Bunkers in Hafnia. Image Credit: Hafnia Traditionally, shipowners and operators have acted alone to fuel their own vessels – that is, they buy their own bunkers regardless of the number of vessels they have or whether they have designated "bunker buyers" within their teams. The idea of buyers coming together to pool their buying resources is nothing new, and discussion on the matter saw particular recent attention in 2019 as part of the run up to IMO...
Publishing date: Jul 12, 2021 • 1 hour ago • 3 minute read • Article content The owners of Limetree Bay, a Caribbean oil refinery dogged by cost overruns and regulatory troubles, filed for bankruptcy on Monday after lenders balked at putting new cash into the project. The Environmental Protection Agency in May ordered the St. Croix, U.S. Virgin Islands, plant, to shut temporarily following a series of fires and noxious gas releases. Those incidents contaminated local drinking water, shut a school and led residents to complain of breathing problems and foul odors. We apolo...
Limetree Bay Refinery Files for Chapter 11 Bankruptcy Protection Rachel Butt and Gerson Freitas Jr., Bloomberg News (Bloomberg) -- Limetree Bay Refining LLC filed for Chapter 11 bankruptcy in Houston on Monday after the U.S. Environmental Protection Agency closed its Caribbean oil refinery. The St. Croix, U.S. Virgin Islands-based company said in a statement that it plans to use the court protection process to negotiate with creditors and equity holders and weigh options including asset sales. The refinery sought bankruptcy âdue to severe regulatory and financial constraintsâ that f...
RIO DE JANEIRO — Authorities in Brazil are investigating senior employees at Connecticut-based trading house Freepoint Commodities for their alleged role in a…