Sale of shuttered oil refinery on USVI stalls

AP News
Posted: Aug 10, 2013 3:41 PM

CHARLOTTE AMALIE, U.S. Virgin Islands (AP) — The sale of a defunct oil refinery in the U.S. Virgin Islands has stalled.

Gov. John P. de Jongh Jr. said Saturday that he sent a letter to the Hovensa refinery's owners informing them that legislators this week rejected a bill that would have governed a possible sale.

De Jongh said officials will resume collecting a 6 percent tax on certain shipments of petroleum products being temporarily held at the refinery for storage.

The refinery on St. Croix was a joint venture of U.S.-based Hess Corp. and Venezuela's state-owned oil company. It closed in January 2012 following years of weak demand and high operating costs.