Why did HOVENSA close?

The firm said its losses were caused primarily by “weakness in demand for refined petroleum products due to the global economic slowdown” and “the addition of new refining capacity in emerging markets.”

When did hovensa close in St Croix?

Hovensa LLC, which took over the refinery operatorship, was established in 1998. In January 2011, Hovensa paid a $5.3 million penalty for Clean Air Act violations. The company closed the refinery in 2012, operating the property continued as a storage terminal only until that closed in 2015.

Who owns the refinery in St croix?

ArcLight Capital
ArcLight Capital purchased the refinery out of bankruptcy in 2016 for $190 million, but the plant has never run smoothly, Reuters reported.

Where is HOVIC?

It is a petroleum refinery covering approximately 1,500 acres in what is known as South Industrial Complex, on the southcentral coast of St. Croix. Operations at the facility began in the mid-1960’s under Hess Oil Virgin Islands Corporation (HOVIC).

Is Limetree Bay closing?

Limetree Bay Refinery’s parent company Limetree Bay Energy announced Monday it is “suspending its plans to restart the refinery indefinitely, due to severe financial constraints.”

What is the best US Virgin Island?

Croix. St. Croix is the largest of the U.S. Virgin Islands and the best Virgin Island to visit for snorkelers and divers. It’s home to one of the only underwater national monuments in the United States—Buck Island Reef National Park.

Why is a refinery being closed in the U.S. Virgin Islands?

SAN JUAN, Puerto Rico (AP) — A huge oil refinery in the U.S. Virgin Islands that contaminated the environment in a series of events that sickened dozens of people and forced schools to close announced Monday that it would remain shuttered indefinitely.

Where is St Croix in the Caribbean?

the U.S. Virgin Islands
Saint Croix, largest island of the U.S. Virgin Islands, in the eastern Caribbean Sea. It lies some 65 miles (105 km) southeast of Puerto Rico and 40 miles (65 km) south of St. Thomas.

Is St. Croix expensive?

There’s great diving, snorkeling, fishing, and sailing off of St. Croix, but shopping is another big activity since prices are very low compared to most other Caribbean islands. St. Croix is mostly a mid-priced Caribbean island, so it’s not ideal for the real budget traveler or for those with limitless holiday budgets.

Is it expensive to live in St. Croix?

The cost of living is relatively high in St. Croix, being comparable to some U.S. cities; this isn’t an island where you get more out of your dollar; many of your expenses will be the same as it were at home. It will be necessary for you to have a plan for generating an income while you’re living in St. Croix.

Where is the name Hovik from?

Armenian
Hovik or Hovig is an Armenian given name. Høvik with a diacritics and the alternative Hovig is a Scandinavian name.

Who owns Limetree Bay terminals?

EIG Global Energy Partners
Limetree, owned by private equity firms EIG Global Energy Partners and ArcLight Capital Partners, did not respond to a request for comment. The refinery has suffered a series of setbacks on its path to restarting operations after being idle for more than eight years.