Philadelphia Energy Solutions News

Bankrupt Philadelphia Refinery Expects Second Insurance Payment

Insurers of Philadelphia Energy Solutions (PES) have indicated they will make a second payment of $15 million from its property policy in connection to the June fire and subsequent shutdown of the plant, court documents showed. The payout will be …

Bankrupt Philadelphia Refiner Seeks $2.5M in Executive Bonuses

The bankrupt Philadelphia Energy Solutions oil refiner is seeking a minimum of $2.5 million in bonus payments to the refiner’s top executives as part of a plan to reorganize or sell the company, U.S. bankruptcy court filings show. This would …

City and Union Officials to Consult on Philadelphia Refinery Sale Process

A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on the East Coast, under which city officials and a trade union will consult on the matter. …

Philadelphia Fire Highlights Dangers of Old Infrastructure at U.S. Refineries

How did a piece of piping installed when Richard Nixon was U.S. president go without once being checked before leading to a fire that devastated the East Coast’s largest and oldest oil refinery? That’s a question safety experts and activists …

Bankrupt Philadelphia Refinery Expects $50M Advanced Insurance Payment

Insurers of a fire-damaged Philadelphia refinery have indicated they would make a $50 million initial advance payment in connection with a June blaze that led to the plant’s closure, court documents showed. The infusion of funds would buy cash-strapped Philadelphia …

Toxic Chemical at PES Refinery Mostly Cleared, Aiding Probe of June Blaze

Most of a highly toxic chemical stored at a fire-damaged Philadelphia oil refinery has been rendered inert, clearing the way for closer inspections of the site following a June blaze that led to the plant’s closure, officials said on Friday. …

PES Up Against the Clock to Sell Philadelphia Refinery in Cash Crunch

Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to …

Philadelphia Energy Solutions Files for Bankruptcy After Refinery Fire

Philadelphia Energy Solutions filed for Chapter 11 bankruptcy protection, the company said on Monday, its second such filing in less than two years, after a fire last month prompted it to close the largest refinery on the U.S. East Coast. …

Fire Forces Philadelphia Energy Solutions to File for Bankruptcy Again

Philadelphia Energy Solutions (PES) filed for its second Chapter 11 bankruptcy in less than two years on Sunday, a court filing showed, a month after a fire and explosion led to the permanent shutdown of the biggest oil refinery on …

Small Fire Still Burning at Site of Philadelphia Oil Refinery Explosions

Officials say a very small fire continues to burn at a Philadelphia refinery following explosions and a pre-dawn blaze that shook homes and caused some minor injuries. Philadelphia Energy Solutions said Saturday that workers are trying to isolate the remaining …