New HOVENSA rumor  

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singlefin
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January 22, 2018 7:37 pm  

In todays Consortium

Limetree Bay: There has been talk of an impending announcement by the governor relative to recent developments at the Limetree Bay Terminals. Rumors of a restart of the oil refining units on the east of the refinery have dominated local circles, with the talk being that British Petroleum, known universally as BP, taking the lead. None of this has been confirmed, however, and trusted Mapp administration sources have remained mum.

If there is in fact a major development relative to oil refining at the former HOVENSA facility, expect the governor to make it a key part of his address tonight.


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ironheadUSVI
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April 20, 2018 10:06 am  

Very interesting read. The permitting of the underwater pipeline will be interesting. Expect a lot of local objections to that one.


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JohnnyU
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April 20, 2018 1:36 pm  

The renewable Diesel project seems interesting. The importation of waste oils wouldn't seem cost effective

The mooring project could create a terminal like St Eustatius


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vicanuck
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April 20, 2018 2:11 pm  

The renewable Diesel project seems interesting. The importation of waste oils wouldn't seem cost effective

Based on???


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JohnnyU
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April 20, 2018 10:03 pm  

The renewable Diesel project seems interesting. The importation of waste oils wouldn't seem cost effective

Based on???

Off the top of my head

-Supply of feed stock. Not enough locally, necessitating shipping
-Effects of rancidity on fuel quaily
-Storage/Collection issues at port
-H2 availability or Cap Ex costs to build
-Currect price of Diesel

If you think it’s economically viable, let us know what it’s based on


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janeinstx
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April 20, 2018 11:08 pm  

I don’t have any understanding of the economic viability of that project. What i do know is that the parent company making these decisions are not bush league. I’m confident that they have worked the numbers 7 ways from Sunday and if they think it’s viable it likely is.


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ironheadUSVI
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April 21, 2018 12:33 pm  

I don’t have any understanding of the economic viability of that project. What i do know is that the parent company making these decisions are not bush league. I’m confident that they have worked the numbers 7 ways from Sunday and if they think it’s viable it likely is.

(tu) Spot on Jane. No one spends the money necessary without doing their homework first. But what do I know after working there for 27 years....:@)


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JohnnyU
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April 21, 2018 1:15 pm  

Except they haven’t spent any (real) money yet on the project and petrochem projects get spiked or started all the time based on any number of reasons (economic or otherwise).

I’m sure they’ve done their homework and are privy to information that I am not and have a good handle on the factors that would affect the economic viability of the project. My comment was that siting the project in STX would have more challenges

Hopefully it pans out


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janeinstx
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April 21, 2018 2:12 pm  

“Except they haven’t spent any (real) money yet on the project ”

I’m going to suggest you have no idea what you are talking about.


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JohnnyU
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April 22, 2018 2:45 pm  

I’m going to suggest you have no idea what you are talking about.

Wouldn’t be the first time

Are they working on H2 & Hydrotreaters?


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Beeski
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singlefin
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May 7, 2018 9:27 pm  

I read that as nothing but good news for St. Croix & Limetree. Someone will have to fill the void while Conaco and Venezuela work out their issues... which sounds like it might take a very long time.
If ever.


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janeinstx
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May 7, 2018 10:59 pm  

PDVSA has nothing to do with LBT. They along with Hess sold their interests tomArcLight Capital


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singlefin
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May 8, 2018 12:23 am  

Limetree Bay Terminals is a joint venture between an affiliate of ArcLight Energy Partners Fund VI, L.P. (“ArcLight”) and an affiliate of Freepoint Commodities, LLC (“Freepoint”). ArcLight manages and owns an 80% interest in LB Terminals; Freepoint owns a 20% interest in LB Terminals.


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MagicMan
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May 30, 2018 1:46 am  

I'm a contractor, my company along with 1,000 other companies are planning to come to St. Croix, sometime late this summer, we have 12 to 18 months to bring the entire refinery back online. Just sharing.


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Alana33
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May 30, 2018 2:30 am  

And hopefully there shall be great environmental and ecological oversight while you're doing so?

I have to say that I find this DOUBTFUL.


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singlefin
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May 30, 2018 3:50 am  

That’s great news MagicMan!
Thanks for sharing.

It fells to me like something big is about to happen here. Real estate is in short supply already and the demand keeps growing.
Federal dollars are flowing in and Reconstruction and hardening of the infrastructure has also begun.

I almost feel sorry for the “Hope for the best but prepare for the worst” crowd. Opportunity is in the air!


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rosesisland
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May 30, 2018 7:54 am  

Does STX have enough housing for 1000's of companies? I'm assuming a company has more than one employee. Not feeling it's the greatest of new for us long-tern renters.
Guess our rent will be going up and we'll have a hard time finding another affordable place to live if rent is raised too much.


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ironheadUSVI
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May 30, 2018 9:36 am  

Does STX have enough housing for 1000's of companies? I'm assuming a company has more than one employee. Not feeling it's the greatest of new for us long-tern renters.
Guess our rent will be going up and we'll have a hard time finding another affordable place to live if rent is raised too much.

I was forced to lower my rents over 20% when Hovensa closed. Yes, the market is now tight due to the hurricane and rents will be higher.


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vicanuck
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May 30, 2018 11:20 am  

I'm a contractor, my company along with 1,000 other companies are planning to come to St. Croix, sometime late this summer, we have 12 to 18 months to bring the entire refinery back online. Just sharing.

Many of us already knew this and are looking forward to it.

Those of us who stayed and stuck it out during the lean years shall be rewarded.


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Ptopta
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May 30, 2018 11:36 am  

I got a call from a job shop in USA. They wanted to know if i would go back. I worked for Litwin who built original Hess plant. I am still in contact but as usual no new info .I worked there in 1993


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Ptopta
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May 30, 2018 11:44 am  

What company? I was called to be submitted. I have not heard a word.


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Ptopta
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May 30, 2018 11:52 am  

I'm a contractor, my company along with 1,000 other companies are planning to come to St. Croix, sometime late this summer, we have 12 to 18 months to bring the entire refinery back online. Just sharing.

What company? I was submitted by a job shop in Atlanta but dont know the outfit.


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islandjoan
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May 30, 2018 12:15 pm  

I think he meant 1000's of employees. Couldn't possibly be 1000's of companies.

Does STX have enough housing for 1000's of companies? I'm assuming a company has more than one employee.


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Ptopta
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May 30, 2018 12:32 pm  

🙂


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Tatortot76
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June 13, 2018 2:32 am  

There is a group on island walking down the refinery right now. Started this month.
Evaluation could take up to 6 months.

Articles I've seen say that the plan is to bring in gas turbine power plant via barge as well as building LNG storage to provide gas for power and to run cracker.

Previously refinery was running on sludge oil from V. Have seen proposition that they will import WTI to operate on. Tankage has already been leased out to oil companies that are mixing crude from Venezuela with WTI for export to Asia.

Restart work could take up to 2 years but may be half that. Depends on what condition they find the equipment in.

Its all about margins. Should operate on about 300-350K barrels a day.


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