Delek US Holdings Inc. signed and closed the sale of its idled refining assets in Paramount, California, to an affiliate of Boston-based World Energy LLC.
Alongside the idled conventional refining assets, the $72-million sale included associated California pipeline and storage tank assets as well as Delek’s membership interests in AltAir Paramount LLC, which operates a 3,000-b/d renewable diesel-jet fuel refinery in Paramount, Delek said.
Uzi Yemin, chairman, president and chief executive officer of Delek, said, “We have been focused on deriving value from our non-core assets in California as they are outside of our geographic footprint. This marks the second step in this process following the announced agreement to divest five west coast asphalt terminals for $75 million. We continue to evaluate options for our Long Beach and Bakersfield assets.”
