Vertex Energy to Acquire Shell Mobile Refinery

Vertex has entered into a definitive agreement to acquire 100 percent of the Mobile, Alabama refinery from Royal Dutch Shell Plc for approximately $75 million.  The transaction is expected to transform Vertex into a leading independent refiner of both renewable and conventional products and supports their low-carbon energy transition strategy. An additional $85 million capital project is planned to build out a renewable diesel facility.

The transaction is expected to close in Q4 of 2021 with Vertex to retain Mobile refinery employees.  The $85 million renewable diesel buildout is expected to result in incremental production of 10,000 bpd of renewable fuels by year-end 2022, increasing to 14,000 bpd by mid-year 2023.

It is expected to take nine months to modify the hydrocracker for renewable diesel production.  The unit will…