Hovensa

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Hovensa
HOVENSA refinery-06.jpg
Hovensa is located in Saint Croix, US Virgin Islands
Hovensa
Location of Hovensa Refinery in Saint Croix
CountryUnited States Virgin Islands
ProvinceSt. Croix
CityChristiansted
Coordinates17°42′16″N 64°45′19″W / 17.70444°N 64.75528°W / 17.70444; -64.75528Coordinates: 17°42′16″N 64°45′19″W / 17.70444°N 64.75528°W / 17.70444; -64.75528
Refinery details
OperatorHovensa LLC
Owner(s)Hess Corporation, Petroleos de Venezuela
Commissioned1966 (1966)
Capacity500,000 bbl/d (79,000 m3/d)

Hovensa (known also as St. Croix Refinery) was a petroleum refinery located on the island of St. Croix in the United States Virgin Islands. The refinery was a joint venture between Hess Corporation and Petroleos de Venezuela. For most of its operating life as HOVENSA it supplied heating oil and gasoline to the U.S. Gulf Coast and the eastern seaboard with the crude mainly sourced from Venezuela. Previously it had sourced its crude feedstock from a number of other countries including Libya. At a capacity of about 500,000 barrels per day (79,000 m3/d) as of 2010 it was in the top 10 largest refineries in the world.[1][2][3]

Hess Oil Virgin Islands Corporation started refinery construction in January 1966 having purchased the property from Annie de Chabert and, in October of the same year, the refinery started operating.[4] In 1974, the capacity of refinery was expanded up to its peak at 650,000 barrels per day (103,000 m3/d). Hovensa LLC, which took over the refinery operatorship, was established in 1998.[citation needed]

In January 2011, Hovensa paid a $5.3 million penalty for Clean Air Act violations.[5] On January 18, 2012 the company announced that it would close the refinery by mid-February 2012. The company sought to close the refinery and have the property serve as only a storage terminal.[6]

In the summer of 2018, a Boston-based private equity firm announced plans to acquire the facility and resume refinery operations by 2020.[7]

See also[edit]

References[edit]

  1. ^ "Omar Shuts Down Hovensa". Downstream Today. AFX News Limited. 2008-10-15. Retrieved 2010-07-08.
  2. ^ "Hovensa Refinery Reopens". Downstream Today. AFX News Limited. 2008-10-20. Retrieved 2010-07-08.
  3. ^ Daker, Susan (2009-06-30). "Hovensa Defers Capital Projects, Trims Workforce". Downstream Today. Dow Jones Newswires. Retrieved 2010-07-08.
  4. ^ Collins, John (2002-04-18). "Instability In Venezuela Being Watched Closely". Puerto Rico Herald. Retrieved 2011-06-27.
  5. ^ "2ND Largest Refinery To Pay $5.3 Million Penalty For Clean Air Act Violations" (Press release). Employee Medical Credentialing Services. 2011-01-27. Archived from the original on 2012-03-17. Retrieved 2012-01-20.
  6. ^ Bronis, Jason (2012-01-18). "Hovensa LLC to shut Virgin Islands oil refinery". Toledo Blade. Associated Press. Retrieved 2012-01-20.
  7. ^ Eaton, Collin (July 2, 2018). "St. Croix oil refinery gets $1.4 billion investment, plans to restart". Reuters.com. Retrieved 2018-09-06.

External links[edit]