Harvest Midstream, a privately owned crude oil and pure gasoline transportation and storage firm in Houston, has entered right into a provisional settlement to buy the closed Phillips 66 refinery in Plaquemins County.

The acquisition is predicted to shut within the first quarter of 2023, based on a information launch saying the acquisition. Phrases of the acquisition weren’t disclosed.

The outdated Belle Chasse refinery closed in November 2021 after being broken past restore by Hurricane Ida. The ability encompasses his 3,200 acres, has an efficient storage capability of 1 million barrels and he has two crude loading docks.

Harvest Midstream stated the deal will assist develop the corporate’s service choices to grease and gasoline producers and refineries, extending “the worth chain round its present regional crude pipeline system.” .

Harvest Midstream CEO Jason Rebrook stated in an announcement: At present’s settlement with Philips 66 for the Belle Chasse Terminal continues our dedication to Louisiana and we stay up for incorporating this facility into our best-in-class service to our company. “

It is a creating story. Particulars might be introduced later.