Refinery yard sale and asset spin-offs: These are dizzying times

Tough economic times traditionally include a post-recovery reorganization of assets by major companies. Some stay in the business; some leave, and others go shopping. Recent headlines are filled with news of refineries, on a global level, taking extended turnarounds for maintenance or shutting processing units to ride out the slow recovery. The industry is cutting costs wherever possible. But the unintended change from the 2008 meltdown is the continuing increase of refining assets on the sale block. An Internet search will land over 1 million hits on information on a “refinery for sale.”  To read the rest of this piece, please click here

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