Limetree Bay refinery to shut due to severe financial constraints

Limetree has been unable to secure necessary funding to restart the plant

  

Limetree Bay Energy will suspend plans to restart its 210,000 barrel per day refinery in St. Croix indefinitely due to severe financial restaints, the company said Monday.

Limetree has been unable to secure necessary funding to restart the plant, and will layoff approximately 271 employees effective September 19, the company said.

The oil storage terminal will not be affected by the decision to suspend operations.

(Reporting by Laura Sanicola) ((Laura.Sanicola@thomsonreuters.com;))


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