Phillips 66 (PSX) agrees to sell its marine terminal and associated assets near New York Harbor...


Phillips 66 (PSX) agrees to sell its marine terminal and associated assets near New York Harbor to United Refining, a deal that continues PSX's strategy of divesting non-core assets while adding a 5M barrel storage facility to United's northeast U.S. assets. The terminal is the east coast's only deepwater loading and unloading facility and can handle Suezmax vessels and VLCC tankers.

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  • Richard Evans
    , contributor
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    Follows Phillips sale of the Trainer Refinery (Pennsylvania) as it transitions away from the low margin East Coast to concentrate on other areas.
    10 Oct 2012, 09:37 AM Reply Like
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