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 Partners Fund VI, which held […]
Tag: ArcLight Capital Partners
SHUTDOWN LOOMING? BP May Cut Off Oil Supply To St. Croix’s Limetree Bay Refinery If It Stays Idle
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 $2.7 billion restoring the facility, […]
ArcLight Capital Partners Plans on Making Big Money With St. Croix Refinery
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 be able to process 200,000 […]
Gov. Mapp Announces ‘Landmark’ $1.4 Billion Deal to Restart Refinery in St. Croix
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 Virgin Islands and ArcLight Capital […]
MAPP: ArcLight’s ‘Restart’ of St. Croix Refinery To Bring $600 Million Over 10 Years, 1200 New Jobs
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 restart a portion of the […]
Sinopec Plans Expansion of Limetree Bay Terminals In St. Croix As Part of President Trump’s Major Trade Deal With China
[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 cited a Bloomberg Politics report […]