A team of Stroock attorneys led by partners Scott Le Bouef and Brian Rogers and associate Brian Wells helped guide specialty oil refiner and marketer Vertex Energy, Inc. in the financing of the acquisition of a 91,000-barrel-per-day oil refinery in Mobile, Alabama from oil industry giant Shell, and in the implementation of intermediation arrangements with respect to the refinery's hydrocarbon inventory.
"The acquisition of the Mobile refinery represents a transformative moment in the history of Vertex, one that positions us to become a leading regional supplier of both renewable and conventional products," stated Benjamin P. Cowart, President and CEO of Vertex. "As previously disclosed, we intend to complete the planned conversion of the Mobile refinery's hydrocracking unit by year-end 2022, positioning us to commence production of renewable diesel fuel at the site beginning in the first quarter 2023."
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