- A $1.6 billion plan to refurbish a long-idled Caribbean oil refinery is about 75% complete and could begin delivering fuel supplies early next year, company and government officials said this week.
Once restarted, the plant will be able to process up to 210,000 barrels per day of oil, a fraction of the 1,500-acre plant’s peak capacity in the 1970s of 650,000 bpd. Instead, it will start operations early next year with one crude processing unit and may later revive a second crude unit if profits allow, Brian Lever, Limetree Bay’s chief executive, told a St. Croix senate panel on Wednesday.Lever declined comment on the delays or when product deliveries could begin through an Arclight spokesman. The company continues “to make strong progress on the refinery restart,” adding it now expects to put oil into processing units early next year.
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