East coast refiner goes bankrupt
WebLargest East Coast oil refinery goes bankrupt, blaming 'broken' EPA rules Philadelphia Energy, which agreed to a chapter 11 plan with its top lenders, hopes to gain judicial … WebJun 21, 2024 · Gasoline futures jumped more than 3% after blasts at a Philadelphia refining complex, which represents 27% of East Coast refining capacity. The impact on drivers is expected to be modest, unless ...
East coast refiner goes bankrupt
Did you know?
WebJan 22, 2024 · By Matt Egan. NEW YORK (CNNMoney)— The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on … WebJan 22, 2024 · After nearly 150 years in business, the biggest oil refinery along the U.S. East Coast has operated through the Great Depression, two world wars and the 1970s Saudi oil embargo. It’s faced more ...
WebPhiladelphia Energy Solutions said it went bankrupt because of "skyrocketing costs" to comply with the EPA's Renewable Fuel Standard. The rule, aimed at lowering pollution, requires refiners to either blend oil with renewable fuels or buy credits. The company has received a $260 million lifeline from lenders and investors. Existing shareholders led by … WebJan 22, 2024 · After nearly 150 years in business, the biggest oil refinery east of the Mississippi River has operated through the Great Depression, two world wars and the 1970s Saudi oil embargo. It’s faced more than one shutdown. Now, its owner says a 13-year-old government biofuels mandate brought the Philadelphia fixture to its knees.
WebJan 22, 2024 · Big East Coast Refiner Files for Bankruptcy, Blaming Regulation Philadelphia Energy, which agreed to a chapter 11 plan with its top lenders, hopes to gain judicial approval for its reorganization... WebFeb 14, 2024 · The plan includes the sale of PES’s 1,300-acre refinery complex to a real estate company — putting an end to the largest oil refining operation on the East Coast.
WebFeb 18, 2024 · The short answer is that we don’t know. This is why it is may be desirable to ship to a company, like Pease & Curren, that has no exposure to the Republic bankruptcy. With amounts as large as what Geib (sued for over $8 million) and Mid-States (sued for over $4.5 million) have at risk, one wonders. The companies are defending the lawsuits and ...
WebJan 22, 2024 · The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on “broken” environmental rules. morning meeting games 4th gradeWebJul 23, 2024 · The company operating the facility, Philadelphia Energy Solutions, filed for Chapter 11 bankruptcy. It's the second time the company has filed such paperwork in … morning meeting greetingWebJan 24, 2024 · The end of the U.S. crude export ban in late 2015 and the start of the Dakota Access pipeline last year forced East Coast refiners to turn back to more expensive imports. morning meeting greeting 4th gradeWebThe largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on “broken” environmental rules. ... morning meeting greeting ideas 4th gradeWebJan 23, 2024 · Its owner says a 13-year-old government biofuels mandate brought the Philadelphia fixture to its knees. morning meeting greetings 4th gradeWebJun 26, 2024 · June 26, 2024 3:17 pm ET. Text. The Philadelphia Energy Solutions refinery, the largest and oldest refinery on the East Coast, is shutting down and will be put up for sale, the company’s chief ... morning meeting greetings for third gradeWebJan 22, 2024 · The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on “broken” environmental rules. Philadelphia … morning meeting greeting ideas first grade