Author Nicole Jao, David French and Sharik Khan
New York (Reuters) -Californian government officials are trying to find Valero Energy Benicia Oil Refinery near San Francisco buyer, three sources familiar with the issue said unusual efforts because April. The clock notes the company’s planned closure of the object in April.
A rare attempt by the state government to sell to the mediator to sell privately owned infrastructure is reflected in its growing concern about the safety of fuel protection in the most US state and protects the price cover, where nearly 28 million California drivers already pay among the highest gasoline prices in the country.
California’s efforts to save the oil refinery factory from closing also mark the transition from government policy attention in recent years to champion green initiatives and limit the use of fossil fuels, which often resulted in tense state -oil companies, including the second largest US processing company in terms of capacity.
The California Energy Commission (CEC), the State Primary Energy and Policy Planning Agency, was actively looking for factory buyers, – three sources told Reuters, talking to anonymity to discuss private considerations.
CEC refused to tell if he interacts directly with the buyers of the object, but admitted that it seeks to ensure that the device remains open.
“CEC is working with market participants to investigate the operation of the continuous processing of state oil processing plants,” said the agency by email. In the letter.
Valero, who announces revenue on Thursday, did not respond to commentary queries.
Earlier this year, Valero announced its intention to terminate its activity by 2026. April 145,000 barrels a day at the San Francisco Oil Refinery, as California is concerned with decline in fuel supply and high gasoline prices.
A refined company in San Antonio, Texas, also reviews whether to continue its operations in the remaining oil refinery in California, including 91,300 BPD Wilmington factory near Los Angeles.
This will happen after the Phillips 66 said in October last year that it would close her Los Angeles processing factory due to the “market dynamics” and start in October. Conducting operations at the 139,000 BPD factory.
Two oil refinery plants together produce about 17% of the state gasoline supply. Their closing, along with other closure and oil processing plants, has been converted into renewable fuel such as the Phillips 66 Rodeo Device last year, and California will depend on more expensive fuel imports, which will further increase prices.