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Did Exon Ink A deal for the Hovensa plant?

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St X
 St X
(@st_x)
Advanced Member

"MissMouthpiece" chimed in with 5 very pertinent questions.

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Posted : July 14, 2014 3:18 pm
janeinstx
(@janeinstx)
Trusted Member

We should make a list of all the rumors. It will be interesting on Jan 1 to see if any of them were in the neighborhood of the truth.

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Posted : July 14, 2014 3:47 pm
caribstx
(@caribstx)
Trusted Member

Sorry, I didn't ask those questions. They'll be here at the end of the month. I'll ask then.

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Posted : July 14, 2014 4:48 pm
CruzanIron
(@cruzaniron)
Expert

'They' whom will be here at the end of the month?

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Posted : July 14, 2014 5:25 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

FYI:

Houses in the ~1mil range are apparently selling fast... we met a couple that looked at 5 places over the last 2 weeks and every single one went under contract, they dropped an offer on the next place they were looking at almost right away.

This corroborates with the "management buying houses" info I heard earlier this summer.

houses out west are selling too... Wingspread sold and a few other properties near it.

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Posted : July 25, 2014 3:42 pm
CruzanIron
(@cruzaniron)
Expert

So who is buying the houses? Management of what company?

If you could identify 1 or 2 house numbers it's real easy to check the records to see who bought them. Please ask your friend for that information and let me know. I'll find out for you. Let's work with facts and not rumors or false suppositions.

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Posted : July 25, 2014 3:54 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

So who is buying the houses? Management of what company?

If you could identify 1 or 2 house numbers it's real easy to check the records to see who bought them. Please ask your friend for that information and let me know. I'll find out for you. Let's work with facts and not rumors or false suppositions.

16 & 17 Carlton for sure, I'll have to get other addresses.

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Posted : July 27, 2014 5:22 am
gonetropo
(@gonetropo)
Advanced Member

FYI:

Houses in the ~1mil range are apparently selling fast... we met a couple that looked at 5 places over the last 2 weeks and every single one went under contract, they dropped an offer on the next place they were looking at almost right away.

This corroborates with the "management buying houses" info I heard earlier this summer.

houses out west are selling too... Wingspread sold and a few other properties near it.

I really don't know where you are obtaining your information that sales of houses in the 1Mil range are selling fast! We have a home on the market in that range and have been charting the MLS for 6 months. In the past 4 months, 2 houses in the $700-$1M range have gone under contract...one is pending now. All of the other homes listed are the same ones that have been listed for months.

We have not had a showing in nearly a month but prior to that, quite a number of showings. Not only did the perspective purchasers not purchase our home, they did not purchase any other homes either, according to the MLS.

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Posted : July 27, 2014 11:50 am
CruzanIron
(@cruzaniron)
Expert

Hovensa also has executive houses (6 of them in Figtree, I think) that would be used. It doesn't make a lot of sense for someone to buy a million dollar house when there is one available for free for them to use.

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Posted : July 27, 2014 12:28 pm
Rowdy802
(@Rowdy802)
Trusted Member

"....As for Hovensa, Jesus Luongo, refining director at PDVSA, said PDVSA expects to receive this month the first proposals from companies interested in buying 50% of the participation of that 350,000 b/d facility in St. Croix, Virgin Islands. When Hovensa closed in 2012, 50:50 partners PDVSA and Hess said it had accumulated losses of $1.3 billion..."

Source: Platts Commodity News | Friday, July 25, 2014
Title: PDVSA to restructure foreign business

It is still in the process of receiving proposals...

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Posted : July 28, 2014 3:58 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

We have not had a showing in nearly a month but prior to that, quite a number of showings. Not only did the perspective purchasers not purchase our home, they did not purchase any other homes either, according to the MLS.

I live west, closer to Hess than you east guys (I assume thats what you speak of) good luck out there in the desert, WEST IS BEST!!!

(seriously though, I don't know anything about east, this is all west info for the most part)

just passing on what I heard,, it doesnt seem overly substantiated, i found it interesting htough.

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Posted : July 28, 2014 5:36 pm
Alana33
(@alana33)
Expert

19 residential properties have closed according to mls, ranging in price between $74k to $1.6m for a 4x4.5 beachfront home on 4.33 acres in stx since January to date.

During that same period,11 properties sold in stt ranging from 34k to 1.5m for a 4x4.5 home on .75 acre in Peterborg. Actually, there 2 homes that sold for that $1.5 price. The other was in Nazareth on east end. Did not check condo sales for either island. This is according to mls stats. There are other sales between private sellers/buyers that would not show on mls.

Currently there are 277 residential properties for sale on stx and 196 on stt listed on mls.

Stx prices are generally lower than stt/stj as well as water island.

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Posted : July 28, 2014 6:18 pm
Rowdy802
(@Rowdy802)
Trusted Member

This development has the potential to increase or, at the same time, reduce the chances of a Hovensa sale... As I've previously mentioned, Hovensa was heavily modified to process sour crude from Venezuela... so keep that in mind when reading the article...

Click on... http://www.reuters.com/article/2014/08/05/venezuela-citgo-pete-idUSL2N0QB2JA20140805

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Posted : August 8, 2014 1:58 pm
CruzanIron
(@cruzaniron)
Expert

Thanks for posting that,Rowdy.

I had to laugh when I read the line about not needing to raise cash.
They just can't face the truth that they are broker than broke and
that socialism does not work when everyone else's money runs out.

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Posted : August 8, 2014 2:30 pm
Rowdy802
(@Rowdy802)
Trusted Member

Thanks for posting that,Rowdy.

10-4
🙂

Oh yes... for sure... No cash flow problem... They are selling them because they have nothing better to do... LOL

The problem is that there are plenty of refineries for sale... and with those, there is a lot more... We are at the markets mercy, which is absolutely unmerciful... I am trying hard to remain optimistic while taking into consideration the reality of it all...

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Posted : August 8, 2014 3:14 pm
Rowdy802
(@Rowdy802)
Trusted Member

Another version of the same cr@p...

clickety clack... http://elpais.com/elpais/2014/08/08/inenglish/1407514108_423463.html

Holly-Frontier may consider Citgo sites... Not Hovensa though...

Click on... http://www.reuters.com/article/2014/08/06/us-hollyfrontier-results-citgo-idUSKBN0G61FD20140806

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Posted : August 9, 2014 4:42 pm
Jamison
(@Jamison)
Trusted Member

There are 3 serious bids on it, but it needs approval from Homeland Security and a few other groups. One of the groups is a Chinese company, who wants to bring in 100% of their own work force. I think we can all imagine how well that would go over.

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Posted : August 14, 2014 3:51 pm
sunshinefun
(@sunshinefun)
Trusted Member

Maybe then we can finally get some decent Chinese food on St. Croix.

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Posted : August 15, 2014 12:28 pm
margaritagirl
(@margaritagirl)
Trusted Member

I agree sunshinefun. I can't find good chinese food here.

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Posted : August 15, 2014 12:42 pm
Bassman
(@bassman)
Advanced Member

The only BAD food I ever had on STX was at the Chinese place across from Pueblo in Golden Rock.

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Posted : August 15, 2014 1:14 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

I agree sunshinefun. I can't find good chinese food here.

Beijing in Scion farm and "china asia" (or something WAYYYY generic sounding) in golden rock are both excellent Chinese food IMO.

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Posted : August 15, 2014 6:19 pm
CruzanIron
(@cruzaniron)
Expert

Fung Kong in Golden Rock has the best dumplings.

And now back to our regularly scheduled topic...

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Posted : August 15, 2014 6:48 pm
janeinstx
(@janeinstx)
Trusted Member

4th extension expires today

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Posted : August 15, 2014 10:37 pm
Rowdy802
(@Rowdy802)
Trusted Member

4th extension expires today

Do you mean the Fourth Amendment (of the Hovensa agreement)? If so I thought it wasn't ratified and gone into effects sometime around October last year... 14 months means it would expire this December...

Or am I misunderstanding your post? or wrong, which I could be very well be, about the amendment? Or, wrong on both counts?

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Posted : August 15, 2014 11:45 pm
singlefin
(@singlefin)
Trusted Member

Jamison,
You mention one is a Chinese company.
Do you know who the other two are?

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Posted : August 16, 2014 3:03 am
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