Limetree Bay Refining, LLC (“Limetree Bay Refining”) 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, U.S. Virgin Islands.

This announcement follows on the press release issued on November 4, 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 1,100 construction jobs to the Territory. With more than $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 U.S. 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.”

About Limetree Bay Refining

Limetree Bay Refining and its affiliate Limetree Bay Terminals own idled refinery equipment with peak processing capacity totaling 650,000 barrels per day, approximately 32 million barrels of storage capacity, and a world-class deepwater port. Limetree Bay Refining and Limetree Bay Terminals continue to make significant investments to revitalize the St. Croix facility as an environmentally-compliant, multi-purpose energy center that will conduct large-scale refining operations and provide third-party storage services for crude oil and refined petroleum products.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.