Oil Refinery

Phillips 66 Limited plans to integrate key facilities into its adjacent Humber Refinery rather than restart standalone refining operations at Lindsey.

Amber’s offer includes a $2.1 billion cash payout to holders of PDVSA’s 2020 bonds, a key feature that supporters say could settle an unresolved legal battle currently being heard in a New York court.

The deal, valued at $1.4 billion in cash, is expected to generate $50 million in annual savings and streamline operations.

If successful, the acquisition would return Citgo to U.S. ownership and make it a publicly listed company.

SRC, a joint venture with PetroChina, operates a 290,000 bpd refinery in Singapore.