"On January 18, Hess announced the closure of its HOVENSA joint venture refinery in the U.S. Virgin Islands, a major source of product supply to the East Coast," the Energy Department said. "That planned closure follows on the heels of the idling of two refineries in the Delaware Valley by Sunoco and ConocoPhillips and announced plans by Sunoco to idle another refinery in the region by mid-2012."
The Energy Department added, "The complete idling of the three refineries would collectively cut as much as 50% of current East Coast refining capacity." http://www.latimes.com/business/money/la-fi-mo-gas-prices-20120130,0,3885077.story?track=rss
Article courtesy of The Los Angeles Times –Money & Company by Ronald D. White
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