Goldman Sachs & Alon Refining Krotz Springs deal
Alon Refining Krotz Springs, a crude oil refinery owned by independent refiner and marketer Alon USA Energy, entered a two-year supply and offtake agreement with Goldman Sachs in May 2010 that has fundamentally changed crude purchase and inventory financing at the Louisiana refinery.
The payment and credit structure agreed on by the two companies was designed to protect Alon's balance sheet from crude oil price increases at a lower cost than traditional bank revolver financing. Goldman Sachs
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