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  • Shell sells Alabama refinery to Vertex Energy
    édité le 27/05/2021 - Plus de news de "SHELL" - Voir la fiche entreprise de "SHELL"


Shell sells Alabama refinery to Vertex Energy
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 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. These high-value Energy and Chemicals parks will produce more low-carbon fuels and specialty chemicals for our customers.

“The sale of the Mobile refinery shows that we are making good progress delivering on our manufacturing strategy,” said Robin Mooldijk, Shell’s EVP for Manufacturing. “We’re becoming better positioned to deliver resilient returns and meet the increasingly diverse needs of our customers.”

The agreement covers the sale of the Mobile refinery and associated co-located logistics infrastructure, including product racks, an associated dock, and the Blakeley Island Terminal. The consideration for this transaction is $75 million in cash plus the value of the hydrocarbon inventory. This transaction is expected to close in Q4 2021, subject to regulatory approvals.

Shell is grateful to the Mobile community for the collaboration and support over the past two decades.

Notes:

  - The Mobile refinery, 100% Shell owned, is located near the U.S. Gulf Coast, at the north end of Mobile Bay in Alabama. The refinery is designed to process approximately 90,000 barrels per day of crude oil and products that include LPG, diesel fuel, jet fuel and gasoline. It also produces low-sulfur VGO/Heavy Olefin Feed and Benzene. It has the optionality to run as a stand-alone refinery, produce base oils or chemicals feedstock.
  - The hydrocarbon inventory will be valued at closing based on actual volumes and prevailing market prices. The current value of the hydrocarbon inventory would range from $65 to $85 million assuming current market prices and historic inventory volumes under normal operating conditions.
  - As part of this deal, Shell and Vertex Energy will have crude supply and product offtake agreements to support Shell’s customers in the region.
  - As this deal progresses towards closing, our Goal Zero safety program will remain our utmost priority while also providing focused support and care for our employees throughout this time of change.
  - All employees providing dedicated support to the Mobile Refinery will be offered employment with Vertex Energy.

About Royal Dutch Shell plc

Royal Dutch Shell plc (LSE: RDSA) is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.

About Vertex

Vertex Energy, Inc. (NASDAQ: VTNR) is a specialty refiner of alternative feedstocks and marketer of high-purity petroleum products. With its headquarters in Houston, Texas, Vertex is one of the largest processors of used motor oil in the U.S. and has processing capacity of over 115 million gallons annually with operations located in Houston and Port Arthur (TX), Marrero (LA), and Columbus (OH). Vertex also has a facility, Myrtle Grove, located on a 41 acre industrial complex along the Gulf Coast in Belle Chasse, LA, with existing hydroprocessing and plant infrastructure assets, that includes nine million gallons of storage. Vertex has implemented the most cost-effective strategy for building its feedstock supply by establishing a successful self-collection and aggregation system. The Company has built a reputation as a key supplier of Group II+ and Group III base oils to the lubricant manufacturing industry in North America.


Origine : Communiqué SHELL

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