Possible Delta Air Lines refinery acquisition raises eyebrows
Analysts have been stunned by reports that Delta Air Lines is considering the purchase of an idled ConocoPhillips refinery on the US east coast. The unprecedented deal would provide Delta with an in-house source of jet fuel, but the problems inherent in such an acquisition would outweigh any benefits, experts say
The Wall Street Journal, among other media outlets, reported last week that Delta Air Lines was in talks with ConocoPhillips to buy the facility in Trainer, Pennsylvania. Citing anonymous sources, the Journal said that Delta was considering a bid of between $100 million and $150 million and that it would hire an outside firm to manage the refinery, with an eye towards using its jet fuel production while swapping its other output with a partner. The 185,000 barrel per day (bpd) refinery outside
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