Sale of shuttered oil refinery on USVI stalls


Save Story

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

CHARLOTTE AMALIE, U.S. Virgin Islands (AP) - The sale of a defunct oil refinery in the U.S. Virgin Islands has stalled.

Gov. John P. de Jongh Jr. said Saturday that he sent a letter to the Hovensa refinery's owners informing them that legislators this week rejected a bill that would have governed a possible sale.

De Jongh said officials will resume collecting a 6 percent tax on certain shipments of petroleum products being temporarily held at the refinery for storage.

The refinery on St. Croix was a joint venture of U.S.-based Hess Corp. and Venezuela's state-owned oil company. It closed in January 2012 following years of weak demand and high operating costs.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Most recent World stories

Related topics

STAY IN THE KNOW

Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Notice.
Newsletter Signup

KSL Weather Forecast

KSL Weather Forecast
Play button