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Delta closes on deal for Philly-area refinery

The Associated Press -- PATRICK WALTERS
Published: June 22nd, 2012 03:59 PM
Last Modified: June 22nd, 2012 04:15 PM

PHILADELPHIA (AP) - A Delta Air Lines subsidiary closed Friday on a deal to purchase a suburban Philadelphia oil refinery and plans to resume fuel production in the fall, a move the airline hopes can cut its jet fuel bill by $300 million a year.

The company closed on the $180 million purchase of the refinery in Trainer and a union official said workers are expected to start returning and getting the plant ready next week.

"Finally, and fortunately, the deal was done," said Denis Stephano, president of the local steelworkers union, who represents about 220 workers at the plant. "We're looking forward to going back to work."

In April, Delta announced plans to buy the idled ConocoPhillips refinery.

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Submitted Jun 23, 2012 By: Nitewolf

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GOBUTLER Champion Author Indianapolis Posts:1,425 Points:389,085 Joined:Dec 2011	Message Posted: Jun 24, 2012 7:38:04 PM Ignore GOBUTLER Report Abuse Ok
52MPG Champion Author Dayton Posts:7,254 Points:1,740,670 Joined:Apr 2006	Message Posted: Jun 24, 2012 10:31:48 AM Ignore 52MPG Report Abuse WOW a less than one year playback on the investment.
Blismo Champion Author Arizona Posts:2,134 Points:403,260 Joined:Feb 2012	Message Posted: Jun 24, 2012 1:40:05 AM Ignore Blismo Report Abuse ok
kgbellman Champion Author Ann Arbor Posts:2,703 Points:730,640 Joined:Mar 2011	Message Posted: Jun 23, 2012 11:33:58 PM Ignore kgbellman Report Abuse That's kind of a weird diversification, but great if they can do it.
bcok Champion Author Los Angeles Posts:2,116 Points:1,542,545 Joined:Oct 2005	Message Posted: Jun 23, 2012 11:07:12 PM Ignore bcok Report Abuse Glad to see jobs are created forever body and maybe llower prices.
5kvdave All-Star Author Los Angeles Posts:688 Points:350,000 Joined:May 2011	Message Posted: Jun 23, 2012 11:00:48 PM Ignore 5kvdave Report Abuse WHATEVER!!!!!!!
carloco75 Champion Author Richmond Posts:3,711 Points:599,390 Joined:Oct 2010	Message Posted: Jun 23, 2012 11:00:01 PM Ignore carloco75 Report Abuse Nkay...what will be next after what's next...
MarkC08 All-Star Author Worcester Posts:663 Points:587,045 Joined:Nov 2008	Message Posted: Jun 23, 2012 10:58:34 PM Ignore MarkC08 Report Abuse OK
dchiou Champion Author San Jose Posts:2,816 Points:792,015 Joined:Feb 2007	Message Posted: Jun 23, 2012 10:56:44 PM Ignore dchiou Report Abuse with a secured fuel source, delta won't pass the savings to their customers.
goodbuy Champion Author Michigan Posts:7,658 Points:1,420,630 Joined:May 2005	Message Posted: Jun 23, 2012 10:55:31 PM Ignore goodbuy Report Abuse Keep it open.
papakoca All-Star Author Texas Posts:649 Points:529,660 Joined:Jun 2011	Message Posted: Jun 23, 2012 10:54:51 PM Ignore papakoca Report Abuse Too many idle refineries around. No wonder gas is so high.
radiorumor Champion Author Texas Posts:2,802 Points:752,660 Joined:Feb 2011	Message Posted: Jun 23, 2012 10:53:58 PM Ignore radiorumor Report Abuse Good, now maybe we can get free pillows again
ED6 Champion Author Riverside Posts:9,479 Points:1,850,155 Joined:Jul 2007	Message Posted: Jun 23, 2012 10:53:22 PM Ignore ED6 Report Abuse K
ScottE Champion Author Orange County Posts:4,352 Points:2,198,030 Joined:May 2002	Message Posted: Jun 23, 2012 10:53:06 PM Ignore ScottE Report Abuse Don't respond in the 1st place Irish Lacey!. Is Atlanta going to join in so as not to lose Delta as its Home base?
Beaveronparade Champion Author Hartford Posts:2,102 Points:634,115 Joined:Mar 2011	Message Posted: Jun 23, 2012 10:50:56 PM Ignore Beaveronparade Report Abuse More jobs are always great. Cheaper airfare would be great also.
spmaudio Champion Author Chicago Posts:3,729 Points:722,190 Joined:Jan 2009	Message Posted: Jun 23, 2012 10:49:33 PM Ignore spmaudio Report Abuse I hope this means cheaper air fare!
beachmanglen All-Star Author Tampa Posts:674 Points:495,275 Joined:Aug 2011	Message Posted: Jun 23, 2012 10:48:11 PM Ignore beachmanglen Report Abuse I hope they use excess capacity to also refine gasoline for public use.
dancygreen Champion Author Twin Cities Posts:2,058 Points:483,910 Joined:Sep 2011	Message Posted: Jun 23, 2012 10:48:05 PM Ignore dancygreen Report Abuse really
YodaON Champion Author Ottawa Posts:2,922 Points:778,085 Joined:Jan 2011	Message Posted: Jun 23, 2012 10:47:54 PM Ignore YodaON Report Abuse its better than closng
nimpy Champion Author Indianapolis Posts:8,130 Points:1,700,130 Joined:Oct 2007	Message Posted: Jun 23, 2012 10:47:21 PM Ignore nimpy Report Abuse Gas will still go up
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Jun 23, 2012 10:47:05 PM Ignore firefly09 Report Abuse Don't know what to think about this one.
straz Champion Author Pennsylvania Posts:1,708 Points:540,385 Joined:Jan 2007	Message Posted: Jun 23, 2012 10:46:38 PM Ignore straz Report Abuse Glad for jobs. Bad for gas
3mta3 All-Star Author Michigan Posts:830 Points:1,002,615 Joined:Jul 2004	Message Posted: Jun 23, 2012 10:46:27 PM Ignore 3mta3 Report Abuse Fuel is one of their biggest costs, so it makes sense to get into the refining business.
Irish_Lacey Sophomore Author Miami Posts:213 Points:179,055 Joined:Mar 2012	Message Posted: Jun 23, 2012 10:44:33 PM Ignore Irish_Lacey Report Abuse Hmmmm....not sure how to respond to this one...
DarthDadJr Champion Author Virginia Posts:7,307 Points:1,520,445 Joined:Jul 2008	Message Posted: Jun 23, 2012 10:43:25 PM Ignore DarthDadJr Report Abuse Just not sure why an airline, who has trouble making a profit, would want to be in the refining business...if this was such a good idea, all airlines would have one.
bonzoonfmb Champion Author Florida Posts:1,777 Points:642,860 Joined:Feb 2010	Message Posted: Jun 23, 2012 10:41:56 PM Ignore bonzoonfmb Report Abuse A failing airline taking over a refinery? Sound scary.
kulwicki7 All-Star Author Virginia Posts:638 Points:268,845 Joined:Sep 2005	Message Posted: Jun 23, 2012 10:40:55 PM Ignore kulwicki7 Report Abuse ok
DutchTreatMI Champion Author Grand Rapids Posts:3,305 Points:750,715 Joined:Mar 2011	Message Posted: Jun 23, 2012 10:38:11 PM Ignore DutchTreatMI Report Abuse Hopefully this will be a win win situation.
abcdMA Champion Author Worcester Posts:7,917 Points:1,574,005 Joined:Nov 2008	Message Posted: Jun 23, 2012 10:38:10 PM Ignore abcdMA Report Abuse interesting investment
crewsing Veteran Author Virginia Posts:391 Points:85,030 Joined:Feb 2012	Message Posted: Jun 23, 2012 10:37:54 PM Ignore crewsing Report Abuse Sad for new jobs..
philthethrill Champion Author Hamilton Posts:9,667 Points:1,603,115 Joined:Nov 2008	Message Posted: Jun 23, 2012 10:35:49 PM Ignore philthethrill Report Abuse good for the airline - too bad for us
tampacrvdriver Champion Author Tampa Posts:3,351 Points:711,460 Joined:May 2011	Message Posted: Jun 23, 2012 10:35:46 PM Ignore tampacrvdriver Report Abuse OK
gilfarm Champion Author Alabama Posts:6,791 Points:1,947,865 Joined:Sep 2005	Message Posted: Jun 23, 2012 10:34:45 PM Ignore gilfarm Report Abuse Good Luck!
ROSYMI Champion Author Michigan Posts:1,028 Points:367,150 Joined:Nov 2011	Message Posted: Jun 23, 2012 10:33:49 PM Ignore ROSYMI Report Abuse good for them
mrbee Champion Author Little Rock Posts:3,749 Points:2,464,855 Joined:Oct 2005	Message Posted: Jun 23, 2012 10:33:45 PM Ignore mrbee Report Abuse Smart move
calripken_8 Champion Author Virginia Posts:2,896 Points:658,215 Joined:Jun 2011	Message Posted: Jun 23, 2012 10:33:42 PM Ignore calripken_8 Report Abuse I wonder if the falling price of oil monkeys up the works for them by making it less viable than buying it elsewhere....
livedream Champion Author Michigan Posts:3,680 Points:754,085 Joined:Mar 2011	Message Posted: Jun 23, 2012 10:33:26 PM Ignore livedream Report Abuse Good business move by Delta -- Will this result in lower air fares for customers?
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Jun 23, 2012 10:33:12 PM Ignore mobil1MN Report Abuse ok
silverfoxv65 Champion Author Michigan Posts:4,475 Points:1,228,925 Joined:Sep 2009	Message Posted: Jun 23, 2012 10:31:36 PM Ignore silverfoxv65 Report Abuse The less plants that are idle the better.
mstearno Champion Author Dayton Posts:8,061 Points:1,730,260 Joined:Jan 2008	Message Posted: Jun 23, 2012 10:31:16 PM Ignore mstearno Report Abuse very good for them
menagerie1013 Champion Author San Diego Posts:2,365 Points:688,365 Joined:Apr 2011	Message Posted: Jun 23, 2012 10:30:46 PM Ignore menagerie1013 Report Abuse Good for Delta.
sdchris Champion Author San Diego Posts:2,546 Points:735,900 Joined:Jun 2008	Message Posted: Jun 23, 2012 10:30:45 PM Ignore sdchris Report Abuse ok
danlanman Champion Author North Carolina Posts:3,327 Points:721,485 Joined:May 2011	Message Posted: Jun 23, 2012 10:30:22 PM Ignore danlanman Report Abuse ok
AnObserver Champion Author New Jersey Posts:8,354 Points:2,257,780 Joined:Sep 2005	Message Posted: Jun 23, 2012 10:30:04 PM Ignore AnObserver Report Abuse This is good for Delta and good for Philadelphia
Zeke33 Champion Author New Hampshire Posts:5,568 Points:1,614,185 Joined:Sep 2005	Message Posted: Jun 23, 2012 10:24:24 PM Ignore Zeke33 Report Abuse That won't help gasoline prices at the pump.
walkingtall Champion Author Toronto Posts:3,989 Points:1,119,730 Joined:Nov 2004	Message Posted: Jun 23, 2012 10:21:07 PM Ignore walkingtall Report Abuse Delta closes on deal for Phily-area refinery and we'll have to wait to see how it affects the prices and if they can pull it off.
kgbellman Champion Author Ann Arbor Posts:2,703 Points:730,640 Joined:Mar 2011	Message Posted: Jun 23, 2012 10:21:04 PM Ignore kgbellman Report Abuse That's kind of a weird diversification, but great if they can do it.
drobbbb Champion Author Maryland Posts:3,470 Points:811,260 Joined:Dec 2010	Message Posted: Jun 23, 2012 10:20:18 PM Ignore drobbbb Report Abuse smart move
pizzaman09 Champion Author Indiana Posts:1,451 Points:1,205,075 Joined:Feb 2009	Message Posted: Jun 23, 2012 10:20:17 PM Ignore pizzaman09 Report Abuse R U READY ?
Taurus1 Champion Author Ohio Posts:3,125 Points:1,672,750 Joined:Apr 2006	Message Posted: Jun 23, 2012 10:16:28 PM Ignore Taurus1 Report Abuse ok