Call your shot - with Valero picking up Lyondell Houston, who picks up Alliance? Drove past there for a fishing trip a few months ago - no activity at the site, nothing demo'd, just a security car in the parking lot. Owned by Harvest Midstream now (parent company is Hilcorp, owns the inbound pipelines from LOOP). CEO Jeffrey Hildebrand heavily involved in Trump/Venezuela policy.
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With this incompetent leadership, I'll say Phillips will buy it back for top dollar - sell low buy high!
Marathon announced today they sold 2 smaller refineries (North Dakota & Minnesota) and will use the capital to “reinvest primarily in the Gulf Coast”
($3-$4billion)
Interesting times……
Alliance was always a very simple refinery that didn't have the kit to do much upgrading and was left in a terrible state. I don't think anyone would be terribly interested in restarting it.
Marathon - they’ve done numerous deals with Hilcorp & Harvest in recent years……
Valero was close to buying it in 2012 and again had interest after the hurricane hit. Market conditions/political climate just weren't ideal at the time (for the Lyondell deal also). I couldn't see them taking on 2 of these projects at the same time,,,,,,
If it happens, probably PBF. They are becoming P66 light - lots of old P66 folks -running assets lean and mean without the wokeness factor and no bloated corporate structure. With the amount of work needed, they could probably pick it up for cheap from Harvest if meant moving 260kbd a day through Hilcorp's pipelines again.