151. Oil-Spewing Refiner Seeks Bankruptcy After EPA Orders Shutdown.
- Author
-
Butt, Rachel and Freitas Jr., Gerson
- Subjects
CONTAMINATION of drinking water ,BANKRUPTCY ,BUSINESS planning ,DEBTOR in possession financing ,BANKRUPTCY courts - Abstract
Keywords: $HOSCCRUD; 0367191Z; 1264168D; 180323Z; BKR; BP/@LN; BON; BUSINESS; CMD; COS; EXE; FIN; GEN; GOV; INDUSTRIES; LATAM; LAW; MARKETS; NORTHAM; NRG; OIL; US; WORLD EN $HOSCCRUD 0367191Z 1264168D 180323Z BKR BP/@LN BON BUSINESS CMD COS EXE FIN GEN GOV INDUSTRIES LATAM LAW MARKETS NORTHAM NRG OIL US WORLD An oil refinery that was once one of the largest in North America filed for bankruptcy after a series of environmental breaches and a government-ordered shut down, highlighting pressures faced by the oil industry to curb its environmental impact. The refinery sought bankruptcy "due to severe regulatory and financial constraints" that forced it to suspend its refinery operations indefinitely, and has lined up as much as $25 million of so-called debtor-in-possession financing that will help it maintain the refinery through the Chapter 11 process, according to the statement. [Extracted from the article]
- Published
- 2021