delta airlines buys oil refinery from phillips 66
Delta Air Lines to buy Trainer refinery from Phillips 66
A Delta Air Lines Inc. subsidiary has agreed to buy the 185,000-b/d Trainer, Pa., refinery near Philadelphia from Phillips 66 Co. for $180 million, the companies reported Apr. 30. Delta said Monroe...
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Delta buys refinery, becoming first airline to make own fuel
Delta buys refinery, becoming first airline to make own fuel. And BP and former refinery owner Phillips 66 will get a share of the gasoline, diesel and refined fuel to sell, in exchange for supplying Delta with jet fuel in other locations.
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Delta Airlines buys oil refinery from Phillips 66
Delta Air Lines Inc. announced Monday that it will buy an oil refinery from Phillips 66, the downstream business spinoff of ConocoPhillips, the Atlanta Business Chronicle, an affiliated...
Get PricePhillips 66 Sells Trainer, Pa., Refinery to Delta Air Lines
HOUSTON, April 30, 2012 - Phillips 66 (NYSE: PSX) and Monroe Energy LLC have signed a purchase and sales agreement for Monroe Energy LLC, a subsidiary of Delta Air Lines, to purchase the Trainer Refinery and associated terminal and pipeline assets for $180 million. The purchase price does not include the value of existing inventories.
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When an Airline Buys an Oil Refinery - Nasdaq.com
The biggest news in the airline sector of late is probably the announcement by Delta Airlines to buy a Phillips 66 refinery in Trainer, PA. Delta will pay $150 million for the 180,000 barrels per day (bpd) facility, spend an additional $100 million to upgrade the plant, and get $30 million in state subsidies for infrastructure and to create jobs.
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An Analysis of Delta Air Lines' Oil Refinery Acquisition
In April 2012, Delta Air Lines shocked the aviation industry by announcing its plan to acquire the oil refinery in Trainer, Pennsylvania (PA), which was formerly owned by Phillips 66.
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Delta Air Lines' Oil Refinery Just Became Way More Valuable
Delta's unusual investment Seven years ago, Delta shocked observers by buying a refinery in Trainer, Pennsylvania, that had recently been shuttered by Phillips 66. Delta's total investment was...
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Delta Air Lines' Refinery Bet Is About to Pay Off Again | The
Delta Air Lines is the only airline to own an oil refinery. Image source: Delta Air Lines. Delta started on the wrong foot, as Superstorm Sandy caused some damage to the refinery and forced it to ...
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Delta Air Lines Buys an Oil Refinery - The New York Times
Delta: When An Airline Buys An Oil Refinery. The biggest news in the airline sector of late is probably the announcement by Delta Airlines (NYSE: DAL) to buy a Phillips 66 (NYSE: PSX) refinery in Trainer, PA. Delta will pay $150 million for the 180,000 barrels per day (bpd) facility, spend an additional $100 million to upgrade the plant,...
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Delta reaches deal to buy oil refinery
Fuel is Delta's largest expense, and the airline expects the deal to cut its fuel expense by $300 million annually. In the unusual deal that ended weeks of speculation, a Delta subsidiary called...
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Delta Air Lines' Oil Refinery Just Became Way More Valuable
Delta's unusual investment Seven years ago, Delta shocked observers by buying a refinery in Trainer, Pennsylvania, that had recently been shuttered by Phillips 66. Delta's total investment was...
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Delta to buy oil refinery - Apr. 30, 2012 - CNNMoney
Delta to buy oil refinery. A Delta spokesman said the company believes the purchase is the first of its kind by a major U.S. airline. Delta ( DAL, Fortune 500) will buy the Trainer refinery for $150 million from Phillips 66 ( PSXWI ), a company that is set to be spun off from energy firm ConocoPhillips ( COP, Fortune 500) on Tuesday.
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Trainer Refinery
In 2012, Phillips 66 sold the refinery to Monroe Energy, LLC, a wholly owned subsidiary of Delta Air Lines. Delta stated that it considered the purchase of the refinery an "innovate approach" towards managing fuel expenses. [15]
Get PriceDelta buys Trainer oil refinery in Pennsylvania - Atlanta
Delta buys Trainer oil refinery in Pennsylvania. In a related three-year deal, BP will supply the crude oil to be refined at the facility. Monroe Energy will exchange gasoline and other refined products from Trainer for jet fuel from Phillips 66 and BP elsewhere in the country through multi-year agreements.
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How Cheap Oil Has Delta Air Lines Jet Fooled - Forbes
Monroe is a wholly owned subsidiary of Delta, and purchased the idled refinery from Phillips 66 (PSX) earlier this year in an effort to control Delta's jet fuel costs.
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Delta Subsidiary to Acquire Trainer Refinery Complex | Delta
About the Trainer Refinery: Located on the Delaware River in Trainer, Pa., about 10 miles southwest of downtown Philadelphia, the Trainer complex has a crude oil processing capacity of 185,000 barrels per day and processes mainly light, low-sulfur crude oil. About Delta Delta Air Lines serves more than 160 million customers each year.
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Delta buys refinery, first airline to make own fuel - Reuters
BP and former refinery owner Phillips 66 will get a share of the gasoline, diesel and refined fuel to sell, in exchange for supplying Delta with jet fuel in other locations. The deal will ease...
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Delta Air Lines, Inc. - Delta Subsidiary to Acquire Trainer
ATLANTA, April 30, 2012 / PRNewswire / - Delta Air Lines (NYSE: DAL) wholly-owned subsidiary, Monroe Energy LLC, has reached agreement with Phillips 66 (NYSE: PSX-WI) to acquire the Trainer refinery complex south of Philadelphia. As part of the transaction, Monroe will enter into strategic sourcing and marketing agreements with BP (NYSE: BP) and Phillips 66.
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Phillips 66 Sells Trainer, Pa., Refinery to Delta Air Lines
Welcome to the Phillips 66 Investors site. This site is designed to give institutional and individual investors 24-hour access to relevant financial and operating information about our company. In this section you will find presentations and conference calls, governance details, stock information and financial reports.
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Delta's Refinery Buy Looking Smarter Every Day - Delta Air
Delta's Refinery Buy Looking Smarter Every Day ... to believe an airline could run a refinery better than an oil company could. ... losses of a refiner like Phillips 66. The increased risk makes ...
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Delta buys a refinery in bid to cut its fuel bill | News
Delta Air Lines said on Monday that it will buy a refinery near Philadelphia in the hope of slicing $300 million a year from its jet fuel bill. ... Pa. refinery from Phillips 66, a refining ...
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Delta buys an oil refinery - PLANT - PLANT
PHILADEPHIA: Delta Air Lines is buying a refinery in a novel—and some say risky—attempt to slice $300 million a year from its escalating jet fuel bill. The Atlanta airline is buying the Trainer, Pennsylvania refinery near Philadelphia for $150 million from Phillips 66, a refining company being spun off from ConocoPhillips.
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Delta Buys an Oil Refinery -- Occupational Health & Safety
Delta Buys an Oil Refinery. During 2012, Trainer's production will reduce Delta's fuel costs by more than $100 million. May 01, 2012; A wholly owned subsidiary of Delta Air Lines, Monroe Energy ...
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Delta Air Lines buys ConocoPhillips refinery | chemanager
Delta Air Lines announced officially yesterday that the company will buy an oil refinery from ConocoPhillips for $180 million. With this audacious bid to save money on fuel costs by investing in a sector shunned by many of the biggest oil firms, the world's second-largest air carrier is becoming the first air carrier to make its own fuel.
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The Zacks Analyst Blog Highlights: Delta Air Lines, Phillips
Delta Adds Oil Refinery to Cut Costs The second largest U.S. airline Delta Air Lines Inc. ( DAL ) will buy an oil refinery in Pennsylvania from Phillips 66 ( PSX ), the downstream business spin ...
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Why Would Delta Airlines Buy A Refinery? | Transportation
Why Would Delta Airlines Buy a Refinery? ... agreed to buy a struggling refinery from Phillips 66 ... Because of the fuel cost savings Delta projects it will enjoy by owning an oil refinery, some ...
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Delta Airlines Cuts Fuel Prices - Business Insider
Delta Airlines purchased its very own oil refinery to control fuel expenses. Delta Airlines purchased its very own oil refinery to control fuel expenses. ... former Phillips 66 refinery on jet ...
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