Hovensa to shut oil refinery in US Virgin Islands

Hovensa LLC is to shut down its huge oil refinery at St Croix in the US Virgin Islands, after several years of unsustainable losses.

The company said this week that it expects formal shutdown by mid-February, after which the facility will continue to operate as an oil storage terminal.

“We deeply regret the closure of the Hovensa refinery and the impact on our dedicated people,” says Brian K Lever, president/COO. “We explored all available options to avoid this outcome, but severe financial losses left us with no other choice.”