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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:407,785 Joined:Dec 2011	Message Posted: Jun 24, 2012 8:38:04 PM Ignore GOBUTLER Report Abuse Ok
52MPG Champion Author Dayton Posts:7,402 Points:1,769,405 Joined:Apr 2006	Message Posted: Jun 24, 2012 11:31:48 AM Ignore 52MPG Report Abuse WOW a less than one year playback on the investment.
Blismo Champion Author Arizona Posts:2,279 Points:431,935 Joined:Feb 2012	Message Posted: Jun 24, 2012 2:40:05 AM Ignore Blismo Report Abuse ok
kgbellman Champion Author Ann Arbor Posts:2,854 Points:759,540 Joined:Mar 2011	Message Posted: Jun 24, 2012 12:33:58 AM Ignore kgbellman Report Abuse That's kind of a weird diversification, but great if they can do it.
bcok Champion Author Los Angeles Posts:2,181 Points:1,555,520 Joined:Oct 2005	Message Posted: Jun 24, 2012 12:07:12 AM 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 24, 2012 12:00:48 AM Ignore 5kvdave Report Abuse WHATEVER!!!!!!!
carloco75 Champion Author Richmond Posts:3,848 Points:627,720 Joined:Oct 2010	Message Posted: Jun 24, 2012 12:00:01 AM Ignore carloco75 Report Abuse Nkay...what will be next after what's next...
MarkC08 All-Star Author Worcester Posts:664 Points:605,890 Joined:Nov 2008	Message Posted: Jun 23, 2012 11:58:34 PM Ignore MarkC08 Report Abuse OK
dchiou Champion Author San Jose Posts:2,881 Points:816,340 Joined:Feb 2007	Message Posted: Jun 23, 2012 11:56:44 PM Ignore dchiou Report Abuse with a secured fuel source, delta won't pass the savings to their customers.
goodbuy Champion Author Michigan Posts:7,811 Points:1,449,430 Joined:May 2005	Message Posted: Jun 23, 2012 11:55:31 PM Ignore goodbuy Report Abuse Keep it open.
papakoca All-Star Author Texas Posts:665 Points:555,630 Joined:Jun 2011	Message Posted: Jun 23, 2012 11:54:51 PM Ignore papakoca Report Abuse Too many idle refineries around. No wonder gas is so high.
radiorumor Champion Author Texas Posts:2,951 Points:781,540 Joined:Feb 2011	Message Posted: Jun 23, 2012 11:53:58 PM Ignore radiorumor Report Abuse Good, now maybe we can get free pillows again
ED6 Champion Author Riverside Posts:9,594 Points:1,872,940 Joined:Jul 2007	Message Posted: Jun 23, 2012 11:53:22 PM Ignore ED6 Report Abuse K
ScottE Champion Author Orange County Posts:4,355 Points:2,217,915 Joined:May 2002	Message Posted: Jun 23, 2012 11:53:06 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:2,164 Points:660,255 Joined:Mar 2011	Message Posted: Jun 23, 2012 11:50:56 PM Ignore Beaveronparade Report Abuse More jobs are always great. Cheaper airfare would be great also.
spmaudio Champion Author Chicago Posts:3,868 Points:749,870 Joined:Jan 2009	Message Posted: Jun 23, 2012 11:49:33 PM Ignore spmaudio Report Abuse I hope this means cheaper air fare!
beachmanglen All-Star Author Tampa Posts:764 Points:520,675 Joined:Aug 2011	Message Posted: Jun 23, 2012 11:48:11 PM Ignore beachmanglen Report Abuse I hope they use excess capacity to also refine gasoline for public use.
dancygreen Champion Author Twin Cities Posts:2,188 Points:511,370 Joined:Sep 2011	Message Posted: Jun 23, 2012 11:48:05 PM Ignore dancygreen Report Abuse really
YodaON Champion Author Ottawa Posts:3,061 Points:806,515 Joined:Jan 2011	Message Posted: Jun 23, 2012 11:47:54 PM Ignore YodaON Report Abuse its better than closng
nimpy Champion Author Indianapolis Posts:8,270 Points:1,727,830 Joined:Oct 2007	Message Posted: Jun 23, 2012 11:47:21 PM Ignore nimpy Report Abuse Gas will still go up
firefly09 Champion Author San Diego Posts:2,613 Points:740,105 Joined:Mar 2009	Message Posted: Jun 23, 2012 11:47:05 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 11:46:38 PM Ignore straz Report Abuse Glad for jobs. Bad for gas
3mta3 All-Star Author Michigan Posts:867 Points:1,022,740 Joined:Jul 2004	Message Posted: Jun 23, 2012 11:46:27 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 11:44:33 PM Ignore Irish_Lacey Report Abuse Hmmmm....not sure how to respond to this one...
DarthDadJr Champion Author Virginia Posts:7,431 Points:1,546,625 Joined:Jul 2008	Message Posted: Jun 23, 2012 11:43:25 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:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Jun 23, 2012 11:41:56 PM Ignore bonzoonfmb Report Abuse A failing airline taking over a refinery? Sound scary.
kulwicki7 All-Star Author Virginia Posts:638 Points:269,295 Joined:Sep 2005	Message Posted: Jun 23, 2012 11:40:55 PM Ignore kulwicki7 Report Abuse ok
DutchTreatMI Champion Author Grand Rapids Posts:3,446 Points:779,165 Joined:Mar 2011	Message Posted: Jun 23, 2012 11:38:11 PM Ignore DutchTreatMI Report Abuse Hopefully this will be a win win situation.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Jun 23, 2012 11:38:10 PM Ignore abcdMA Report Abuse interesting investment
crewsing Veteran Author Virginia Posts:391 Points:85,030 Joined:Feb 2012	Message Posted: Jun 23, 2012 11:37:54 PM Ignore crewsing Report Abuse Sad for new jobs..
philthethrill Champion Author Hamilton Posts:9,870 Points:1,631,405 Joined:Nov 2008	Message Posted: Jun 23, 2012 11:35:49 PM Ignore philthethrill Report Abuse good for the airline - too bad for us
tampacrvdriver Champion Author Tampa Posts:3,465 Points:738,765 Joined:May 2011	Message Posted: Jun 23, 2012 11:35:46 PM Ignore tampacrvdriver Report Abuse OK
gilfarm Champion Author Alabama Posts:6,936 Points:1,976,540 Joined:Sep 2005	Message Posted: Jun 23, 2012 11:34:45 PM Ignore gilfarm Report Abuse Good Luck!
ROSYMI Champion Author Michigan Posts:1,028 Points:388,600 Joined:Nov 2011	Message Posted: Jun 23, 2012 11:33:49 PM Ignore ROSYMI Report Abuse good for them
mrbee Champion Author Little Rock Posts:3,894 Points:2,493,530 Joined:Oct 2005	Message Posted: Jun 23, 2012 11:33:45 PM Ignore mrbee Report Abuse Smart move
calripken_8 Champion Author Virginia Posts:3,041 Points:686,890 Joined:Jun 2011	Message Posted: Jun 23, 2012 11:33:42 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:3,845 Points:782,010 Joined:Mar 2011	Message Posted: Jun 23, 2012 11:33:26 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 11:33:12 PM Ignore mobil1MN Report Abuse ok
silverfoxv65 Champion Author Michigan Posts:4,623 Points:1,257,300 Joined:Sep 2009	Message Posted: Jun 23, 2012 11:31:36 PM Ignore silverfoxv65 Report Abuse The less plants that are idle the better.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Jun 23, 2012 11:31:16 PM Ignore mstearno Report Abuse very good for them
menagerie1013 Champion Author San Diego Posts:2,365 Points:711,190 Joined:Apr 2011	Message Posted: Jun 23, 2012 11:30:46 PM Ignore menagerie1013 Report Abuse Good for Delta.
sdchris Champion Author San Diego Posts:2,607 Points:752,400 Joined:Jun 2008	Message Posted: Jun 23, 2012 11:30:45 PM Ignore sdchris Report Abuse ok
danlanman Champion Author North Carolina Posts:3,467 Points:749,935 Joined:May 2011	Message Posted: Jun 23, 2012 11:30:22 PM Ignore danlanman Report Abuse ok
AnObserver Champion Author New Jersey Posts:8,494 Points:2,285,480 Joined:Sep 2005	Message Posted: Jun 23, 2012 11:30:04 PM Ignore AnObserver Report Abuse This is good for Delta and good for Philadelphia
Zeke33 Champion Author New Hampshire Posts:5,660 Points:1,635,215 Joined:Sep 2005	Message Posted: Jun 23, 2012 11:24:24 PM Ignore Zeke33 Report Abuse That won't help gasoline prices at the pump.
walkingtall Champion Author Toronto Posts:4,134 Points:1,148,405 Joined:Nov 2004	Message Posted: Jun 23, 2012 11:21:07 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:2,854 Points:759,540 Joined:Mar 2011	Message Posted: Jun 23, 2012 11:21:04 PM Ignore kgbellman Report Abuse That's kind of a weird diversification, but great if they can do it.
drobbbb Champion Author Maryland Posts:3,590 Points:837,785 Joined:Dec 2010	Message Posted: Jun 23, 2012 11:20:18 PM Ignore drobbbb Report Abuse smart move
pizzaman09 Champion Author Indiana Posts:1,463 Points:1,230,215 Joined:Feb 2009	Message Posted: Jun 23, 2012 11:20:17 PM Ignore pizzaman09 Report Abuse R U READY ?
Taurus1 Champion Author Ohio Posts:3,214 Points:1,693,005 Joined:Apr 2006	Message Posted: Jun 23, 2012 11:16:28 PM Ignore Taurus1 Report Abuse ok