78.4 F
Charlotte Amalie
Saturday, December 5, 2020
Home News Archives Hovensa Gets Extension on Sales Process

Hovensa Gets Extension on Sales Process

The owners of the Hovensa refinery on St. Croix have requested an additional two weeks for discussions on aspects of the sales process established by the Fourth Amendment Agreement, Gov. John deJongh Jr. announced Friday in a statement from Government House.

DeJongh said "the parties have agreed to extend the sales process period until Aug. 30." The parties would include both the refinery owners – Hovensa LLC, Hess Oil Virgin Islands Corp., and the Venezuelan group, PDVSA V.I. – and the government.

The Fourth Amendment is an agreement between the government and Hovensa, approved after much bitter debate and signed by the governor Nov. 7, that established a sales process for the closed Hovensa refinery. Under the terms of the agreement, it was to expire Aug. 15, but Hovensa and its owners have asked for and received the two-week extension.

The governor’s two-sentence statement did not say what circumstances caused Hovensa to seek an extension of the agreement, but the news will add fuel to the rumors in both the V.I. community and the "Hovensa diaspora," former Hovensa workers now on the mainland, that a sale of the shuttered facility is in the offing.

Print Friendly, PDF & Email
Advertising (skip)
Advertising (skip)

Support the VI Source

Unlike many news organizations, we haven't put up a paywall - we want to keep our journalism as open as we can. Our sites are more popular than ever, but advertising revenues are falling - so you can see why we could use your help. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. If everybody who appreciates our reporting efforts were to help fund it for as little as $1, our future would be much more secure. Thanks in advance for your support!





Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
Load more
Print Friendly, PDF & Email