PDVSA and Hess Corp. have received an offer to buy their 350,000-barrel-per-day Hovensa refinery in the Virgin Islands. Via Reuters, Hess and PDVSA have been using Hovensa as a terminal since 2012, but the prospective buyer wants to resume refining operations and process U.S. light sweet crudes. The interested buyer is said to be a U.S.-based private equity firm with limited experience in refining.
PDVSA is trying to unload its Citgo refining assets in the U.S., for which it could get as much as $10 billion. Valero and Tesoro have been named as possible buyers of Citgo.
SEE ALSO: CHS plans $406 million Montana refinery upgrade
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