Limetree Bay Refining has signed an agreement with BP’s supply and trading arm - for tolling, supply and offtake of the restarted refinery at Limetree Bay, St. Croix in US Virgin Islands.
Image: Limetree Bay Refining plans to restart the St. Croix refinery, a former HOVENSA petroleum refinery. Photo: courtesy of Cumulus Clouds/Wikipedia.org.
This announcement follows on the press release issued on November 4, 2018, which communicated that the parties had reached agreement in principle. Limetree Bay Refining anticipates completion of the restart by late 2019.
US Virgin Islands Governor Kenneth Mapp said: “This agreement marks a significant milestone for the refinery restart effort.
“To date, the project has brought 1,100 construction jobs to the Territory. With more than $1.5 billion of total capital investment in the project, we can look forward to a period of significant growth in employment and the economy.
“This is a great day for the U.S. Virgin Islands. I thank the representatives of Limetree Bay Refining for their commitment to our Territory and look forward to a long and mutually beneficial relationship.”
Source: Company Press Release