East coast refiner goes bankrupt
WebJan 22, 2024 · The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on "broken" environmental rules. WebMar 12, 2024 · The end of the united state crude export restriction in late 2015 as well as the begin of the Dakota Access pipe in 2014 required East Coast refiners to reverse to a lot more pricey imports. The refinery, a 1,300-acre system near midtown Philadelphia, will certainly maintain operating as well as there will certainly be no influence on tasks ...
East coast refiner goes bankrupt
Did you know?
WebSep 9, 2024 · Executives of the Philadelphia Energy Solutions oil refinery were paid roughly $4.5 million in retention bonuses after a summer fire that led to the plant's closure and before the company filed for bankruptcy a few weeks later, court documents show. PES announced plans to permanently shut its refinery following the June 21 explosive blaze … WebJan 23, 2024 · The largest oil refinery along the U.S. East Coast filed for bankruptcy protection blaming its downfall on "broken" environmental rules. Philadelphia Energy …
WebFeb 18, 2024 · The short answer is that we don’t know. This is why it is may be desirable to ship to a company, like Pease & Curren, that has no exposure to the Republic bankruptcy. With amounts as large as what Geib (sued for over $8 million) and Mid-States (sued for over $4.5 million) have at risk, one wonders. The companies are defending the lawsuits and ... WebPhiladelphia Energy Solutions said it went bankrupt because of "skyrocketing costs" to comply with the EPA's Renewable Fuel Standard. The rule, aimed at lowering pollution, requires refiners to either blend oil with renewable fuels or buy credits. The company has received a $260 million lifeline from lenders and investors. Existing shareholders led by …
WebJan 22, 2024 · After nearly 150 years in business, the biggest oil refinery along the U.S. East Coast has operated through the Great Depression, two world wars and the 1970s … WebFeb 14, 2024 · The plan includes the sale of PES’s 1,300-acre refinery complex to a real estate company — putting an end to the largest oil refining operation on the East Coast.
WebLargest East Coast oil refinery goes bankrupt, blaming 'broken' EPA rules Philadelphia Energy, which agreed to a chapter 11 plan with its top lenders, hopes to gain judicial …
WebJan 22, 2024 · Philadelphia Energy Solutions,the East Coast's oldest and largest oil refinery, said that it will file for Chapter 11 bankruptcy protection, as part of a … popular beaches in scotlandWebJan 22, 2024 · The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on “broken” environmental rules. Philadelphia … popular beaches in portugalWebJan 23, 2024 · Its owner says a 13-year-old government biofuels mandate brought the Philadelphia fixture to its knees. popular beaches in philippinesWebThe largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on “broken” environmental rules. ... popular beaches in jamaicaWebJan 22, 2024 · After nearly 150 years in business, the biggest oil refinery along the U.S. East Coast has operated through the Great Depression, two world wars and the 1970s Saudi oil embargo. It’s faced more ... shark easy to drawWebJun 21, 2024 · Gasoline futures jumped more than 3% after blasts at a Philadelphia refining complex, which represents 27% of East Coast refining capacity. The impact on drivers is expected to be modest, unless ... shark easy steam mopWebJan 24, 2024 · The end of the U.S. crude export ban in late 2015 and the start of the Dakota Access pipeline last year forced East Coast refiners to turn back to more expensive imports. shark eagle