Business

HOVENSA In Sales Process To Sell Refinery Terminal

ST. CROIX -- As Governor Kenneth Mapp prepares to meet with senators of the 31st Legislature on Monday in what is expected to be a gathering where a wide array of topics are discussed, people with intimate knowledge of HOVENSA's recent dealings, who requested anonymity because they were not authorized to speak, told VI Consortium that the refinery's owners were conducting another sales process of the facility located on St. Croix's south shore. However, unlike the last sales process between Atlantic Basin Refining (ABR) and HOVENSA, in which HOVENSA included the facility's refining capabilities as part of the deal, only the terminal is up for sale. As part of the agreement, HOVENSA is offering 52 storage tanks that are currently in use -- with the capacity to store 12 million barrels of oil (12 mmbbls), and there are 89 additional tanks that could be brought online after repairs -- with an extra 19 mmbbls, or 19 million barrels of oil storage, these people said. In ...