Valero halted the operations at the refinery in November. The company has agreed
that no removal of process equipment will take place while negotiations are under way.
In November last year, Valero Energy shut down its Delaware City refinery due to financial
losses caused by very poor economic conditions, significant capital spending requirements and
high operating costs.
Bill Klesse, chairman and CEO of Valero, said: “We have worked very closely with Gov.
Markell, who has been instrumental in furthering these negotiations.”
PBF Investments
is the investment vehicle of Petroplus Holdings, which is a independent refiner and wholesaler
of petroleum products in Europe.
Petroplus focuses on refining and currently owns and
operates six refineries across Europe: the Coryton Refinery on the Thames Estuary in the UK,
the Belgium Refining Refinery in Antwerp, Belgium, the Petit Couronne Refinery in Petit
Couronne, France, the Ingolstadt Refinery in Ingolstadt, Germany, the Reichstett Refinery
near Strasbourg, France, and the Cressier Refinery in the canton of Neuchatel, Switzerland.
The refineries have a combined throughput capacity of approximately 752,000 barrels per day.
The company also owns the Teesside facility in Teesside, UK.
Valero said that there is
no specific timetable when negotiations might be completed.
