Valero Energy Corporation announced it is in advanced negotiations to sell in place the assets of its terminal operation and discontinued operations in Delaware City to PBF Investments, LLC.

Valero halted operations at the refinery in November. Valero has agreed that no removal of process equipment will take place while negotiations are under way.

“We have worked very closely with Gov. Markell, who has been instrumental in furthering these negotiations,” said Valero Chairman and CEO Bill Klesse.

There is no specific timetable for when negotiations might be completed. The parties are continuing their discussions.