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Hess, PDVSA Receive Offer for US Virgin Island's Hovensa Refinery

Posted by September 17, 2014

Hess Corporation and Venezuela's state-run PDVSA have found an interested buyer for their 350,000 barrel per day (bpd) Hovensa refinery in the Virgin Islands, sources close to the deal told Reuters on Wednesday, confirming a local news report.

Refining at the plant has been halted since 2012 but its owners have been using it as a terminal.

The operation would be part of a broader attempt by PDVSA to sell its foreign assets, including its refining unit in the United States, Citgo Petroleum, and its stake in Chalmette, another refinery jointly owned with Exxon Mobil (XOM).

(Reporting by Marianna Parraga; Editing by Terry Wade)

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