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US DOL’s Gerri Fiala WASHINGTON – The Virgin Islands is one of only two jurisdictions in the country to be formally sanctioned by the federal government for failure to meet agreed performance records in job training, the V.I. Free Press has learned. Compounding the news is the fact that the

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At VIFreepBreaking NewsBritish Virgin Islands NewsBusiness News

   Jhon Samuel of the BVI ROAD TOWN — About three years ago, Tortola resident Jhon Samuel was sitting in a Chicago hotel room when hunger pangs started to strike. Instead of picking up a phone to order room service or takeout, Samuel, a web developer and graphic designer, decided to

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At VIFreepBreaking NewsBusiness NewsCaribbean News

  Deputy National Security Advisor Ben Rhodes WASHINGTON – If the newly elected Venezuelan National Assembly votes to cancel that country’s program of subsidized oil sales to Caribbean and Central American nations, the United States will not be able to substitute U.S. oil for Venezuelan oil, a senior U.S. official

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At VIFreepBreaking NewsBusiness NewsGovernment House NewsSt. Croix News

WILMINGTON, Del. – A federal bankruptcy judge sitting in Delaware made a ruling on the controversial sale of oil company HOVENSA on Monday, but said details of a large portion of the sale hearing could not be made public, under penalty of contempt, until the Gov. Kenneth Mapp announced them

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At VIFreepBreaking NewsBusiness NewsEnvironmental NewsSt. Croix News

CHARLOTTE AMALIE – Now that Gov. Kenneth Mapp and Limetree Bay Holdings have come to an agreement on the operating terms for the HOVENSA oil storage terminal, the question becomes: Will the Legislature sign off as well? Mapp said that the deal with Limetree is expected to bring a likely

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

Wang Tianpu, President of Sinopec BEIJING — The second-ranking executive at Sinopec, one of China’s dominant oil and energy companies, is being investigated for “serious violations” of laws and discipline, according to official news reports and a statement by the commission of the Chinese Communist Party that oversees corruption investigations.

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

CHRISTIANSTED – The business world views the sale of the former HOVENSA oil refinery on St. Croix’s South Shore as a way to integrate the East with the West in the global marketplace. The long-sought deal to bring an oil refinery strategically-located in the Caribbean (St. Croix is one of

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

CHARLOTTE AMALIE – Terms of the $360 million sale of the HOVENSA oil refinery complex to Limetree Bay Holdings were made public in a press conference at Government House today. Private equity firm ArcLight Capital, together with commodities trader Freepoint, unveiled plans today to buy the HOVENSA refinery complex in

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

Bankruptcy Judge Mary Walrath WILMINGTON, Delaware – A federal bankruptcy court judge decided today that the HOVENSA oil refinery complex can be sold to stalking horse bidder Limetree Bay Holdings and commodities trader Freepoint, the Virgin Islands Free Press has learned. News that U.S. Bankruptcy Court Judge Mary Walrath had

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At VIFreepBreaking NewsBusiness NewsSt. Croix NewsSt. John NewsSt. Thomas News

Coakley Bay Condominiums in St. Croix Home prices have risen sharply, but not enough to trigger an increase in the maximum loan that can be purchased or guaranteed by Fannie Mae and Freddie Mac next year. The baseline conforming loan limit will remain at $417,000 in 2016 for the 11th

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