Kinder Morgan: Bankrupt Refiner Owes $1.5 mln

Thursday, August 1, 2019

Kinder Morgan Liquids Terminals LLC says Philadelphia Energy Solutions failed to make payments for fuel storage and other services totaling nearly $1.5 million since December, roughly seven months before the Pennsylvania refiner filed for bankruptcy.

In a Wednesday filing, Kinder asked the U.S. Bankruptcy Court for the District of Delaware to allow it to sell fuel stored by PES at its Carteret, New Jersey, facility to pay itself back for the missed payments.

PES, which shut its last crude unit this week, currently has 27,000 barrels of diesel fuel stored at Kinder's terminal as part of an agreement dating to 1996, the energy infrastructure company said in the filings.

Kinder asked the court to terminate its storage agreement with PES and clear its units of PES fuel so it can lease the space to other companies.

The 335,000 barrel-per-day PES refinery, the largest and oldest on the East Coast, filed for Chapter 11 bankruptcy last week for the second time in less than two years.

The bankruptcy followed a June 21 fire, which damaged the alkylation unit on the more than 1,300-acre site. Workers at the refinery are in the process of idling the facility before being laid off on Aug. 25.

Kinder Morgan Liquid Terminals is a unit of Houston-based Kinder Morgan Inc.

Reporting by Laila Kearney

Categories: Legal Finance Logistics

Related Stories

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

CNOOC Finds Oil and Gas in South China Sea

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Current News

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com