Engineering News

ConocoPhillips to Idle Pa. Refinery; Seeks Buyer
September 27, 2011

ConocoPhillips announced Tuesday that it is seeking a buyer for its 185,000 barrel-per-day refinery in Trainer, Pa., and associated pipelines and terminals. ConocoPhillips will immediately begin the process of idling the facility and will permanently close the plant in six months if a sales transaction is unsuccessful.

"After exploring a wide range of alternatives for the refinery, the decision to sell is based on the level of investment required to remain competitive," said Willie Chiang, senior vice president of Refining, Marketing, Transportation and Commercial. "U.S. East Coast refining has been under severe market pressure for several years. Product imports, weakness in motor fuel demand, and costly regulatory requirements are key factors in creating this very difficult environment. This action is consistent with our stated strategic objective to reduce our refining portfolio," added Chiang.

"Trainer Refinery has a rich history and we are both proud and appreciative of the efforts and strong performance demonstrated by our employees. Our people have shown a long-standing commitment to operating in a safe, reliable and efficient manner," said Chiang. ConocoPhillips employees and contractors have been notified of the idling and potential permanent closure of the facility if a sales transaction cannot be completed. ConocoPhillips will redeploy employees to other positions within the company where possible. Employees who are not redeployed will receive severance benefits and job placement services.

"We are grateful for the relationships we have within the local communities, recognize the potential adverse impacts of this decision, and pledge to keep our employees and communities informed as this process moves forward," said Chiang.

The company expects to recognize a non-cash asset impairment of approximately $300 million after tax in its third-quarter financial results.

Source: Conoco Phillips

Engineering News Archive


Applicant Procedures
Job Seekers
Resume Help
Professional Organizations
Engineering Career Information
Engineering Colleges

Recruiters for
Professionals in the Chemical
& Pharmaceutical Industries
We recruit exclusively for Engineers and Operations/Maintenance Management Personnel in the following areas:
Specialty chemicals
Bulk chemicals
Commodity Chemicals
Fine chemicals
Industrial gases
Career Center | FAQs | Privacy
SESI Corporate Headquarters (954)755-3121 ext 109
© Search Enterprises, Inc. All rights reserved.
Industry News Career Center FAQs Submit a Job About Search Enterprises Submit a Resume Candidates Job Opportunities Search Enterprises Home