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Delta Air buys refinery from Conoco

Delta Air buys refinery from Conoco

Delta Air Lines Inc. says it will buy a refinery near Philadelphia as part of an unprecedented deal that it hopes will cut its jet fuel bill.
Delta is buying the Trainer, Pennsylvania, refinery from Phillips 66, a refining company being spun off from ConocoPhillips. Delta says a subsidiary will pay $150 million, including $30 million in job-creation assistance it is getting from the state of Pennsylvania.
Delta estimates the deal will cut its fuel bill by $300 million a year. Fuel has become the airline industry's biggest expense over the past few years.


Updated : 2021-08-01 14:51 GMT+08:00