Groups vying for the idled Philadelphia Energy Solutions oil refinery have enter...
NEW YORK - Groups vying for the idled Philadelphia Energy Solutions oil refinery have entered the second phase of the bidding process and are gearing up for visits to the plant, according to three sources familiar with the matter.
The effort began after PES closed its refinery and filed for bankruptcy on July 21, following a colossal blaze at one of its most dangerous fuel-producing units. Groups in the bidding process are being given more information about PES’ finances and operations and are expected to tour the site, three sources familiar with the plans said. They have also been asked to submit more detailed proposals, as opposed to limited initial bids, by late November.
Parties that have publicly declared their pursuit of the PES complex include a group led by onetime PES Chief Executive Officer Philip Rinaldi, which has proposed restarting the full 335,000 barrel-per-day refinery and adding renewable natural gas production. Outstanding questions include who is still working for PES, after it laid off most of its pre-fire workforce of 1,000 people, and the cost of maintaining water treatment systems so that rain and melted snow contaminated on-site do not stream into the nearby Schuylkill River, sources familiar with the plans said.
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