CHRISTIANSTED — U.S. private equity firm Arclight Capital Partners LLC, which invests the retirement savings of Maine teachers, NFL football players and Mayo Clinic doctors, lost hundreds of millions of dollars betting on a troubled St. Croix oil refinery, according to sources and documents reviewed by Reuters. Boston-based Arclight’s Energy

CHRISTIANSTED — The problem-plagued Limetree Bay refinery in St. Croix may lose its main supplier of crude oil, British Petroleum (BP), if it isn’t successfully up and running by December, according to two people familiar with the matter. The South Shore refinery’s owner, Limetree Bay Ventures, has spent at least

CHRISTIANSTED — Owners of an idled oil refinery in St. Croix, that was once among the world’s largest, plan to invest $1.4 billion to refurbish and restart a portion of the plant, they said. ArcLight Capital Partners, a private equity firm expects the former HOVENSA refinery on St. Croix to

CHRISTIANSTED — Governor Kenneth Mapp announced Monday an agreement which would reopen one of the world’s largest refineries, create hundreds of jobs in the territory and shore up the solvency of the Government Employees Retirement System (GERS). Governor Mapp said the $1.4 billion agreement was between the Government of the

FILE PHOTO: An abandoned truck is seen outside the installations of the Hovensa petroleum refinery in St Croix on June 28, 2017. REUTERS/Alvin Baez/File Photo CHRISTIANSTED — Owners of an idled oil refinery in St. Croix, that was once among the world’s largest, plan to invest $1.4 billion to refurbish and

[ad name=”HTML-68″] CHRISTIANSTED — In his bi-nightly radio address (the last for two weeks) last night, Gov. Kenneth Mapp seemed to take great pleasure in announcing that the local media had missed a major news story involving President Donald Trump, China and the Limetree Bay Terminals in St. Croix. Mapp

CHRISTIANSTED — Limetree Bay Terminals, or LB Terminals, the new owner of the HOVENSA oil terminal on the South Shore of St. Croix, is now open for business, and it has received its first products in tanks recently, industry sources told the Oil Price Information Service (OPIS) this week. At

LIBREVILLE — One person was killed and six wounded in an explosion on March 12 at an oil site in southwest Gabon run by a subsidiary of Chinese energy giant Sinopec. Rescuers found the body of one worker at the site the following morning, while four people were admitted to

   Limetree Bay Boss: Jerry Ashcroft CHRISTIANSTED – Limetree Bay Terminals on St. Croix is poised to make a fast turnaround by April because its tanks have been “well-maintained” since it was closed in January 2012, the Virgin Islands Free Press has learned. Limetree Bay Terminals acquired the facility with

BEIJING – China’s state-run oil refiner Sinopec Corp. has purchased its first ever batch of U.S. crude oil for export, a source told Reuters on Thursday, a landmark transaction after the ending of a four-decade ban on domestic exports. The cargo, due to be loaded from a Gulf Coast port