Bloomberg - US REFINERY INSIGHTS: East Coast Again Attracts Buyer Interest

November 16, 2022 – Bloomberg

US REFINERY INSIGHTS: East Coast Again Attracts Buyer Interest

By Barbara Powell and Chunzi Xu

(Bloomberg) -- After years of being seen as the last place in North America anyone would want to invest in an oil refinery, the US East Coast is suddenly garnering investor interest.  Delta Air Lines Inc., which failed to attract an investor for its Trainer refinery in Pennsylvania in 2018, is again in talks about a possible partnership or even sale, Delta Chief Executive Officer Ed Bastian told Bloomberg last week. Trainer is expected to earn $800 million for 2022, he added. That follows years of erratic returns on the company’s 2012 purchase of the plant meant to ensure a steady supply of jet fuel for the airline.

“The market environment for East Coast refining has definitely improved the last few years,” said John Auers, managing director of Refined Fuels Analytics, a division of RBN Energy. “After shutdowns on both sides of the Atlantic, the East Coast moves from being a difficult environment for being a refiner to being a good place.”

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