Kinder Morgan: Bankrupt Refiner Owes $1.5 mln

Thursday, August 1, 2019
Adobestock / © mikesjc

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

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Eco Wave Finds Partner for Wave Energy Project in India

Eco Wave Finds Partner for Wave Energy Project in India

European LNG Imports Up with Asian Influx

European LNG Imports Up with Asian Influx

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

INEOS Picks Up CNOOC’s US Assets in $2B Deal

TVO Selects Collins to Head Australian Ops

Yinson and PetroVietnam JV Get FSO Contract for Vietnamese Field

Current News

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

EnerMech Names APAC Regional Chief

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

photo

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