BP gives Caribbean refinery more time to hit operating targets: Report
NEW YORK (Reuters) – BP Plc has given the operator of a Caribbean refinery more time to fully restart and retain its crude oil supply agreement after the plant failed to hit operating targets last year, according to people familiar with the matter.
Last month, BP threatened to walk away from a 2018 agreement to supply up to 200,000 barrels per day (bpd) of crude oil and buy the resulting fuels if the Limetree Bay refinery in St. Croix, U.S. Virgin Islands could not bring all its units online by mid-January. The refinery has been idled since 2012.
A restart of the 210,000 bpd Limetree Bay Ventures’ plant was originally expected more than a year ago and was designed to profit from an international clean-air marine fuel mandate.
