The St. Croix refinery is currently known as Limetree Bay Refining, however, the history of refining in the USVI spans for decades and has been one of the territory’s largest employers with thousands of workers, independent contractors, and many contracting companies working in conjunction with the terminal and refinery project and operational leadership teams. The refinery was formerly known as the HOVENSA oil refinery, operating as a joint venture between Hess Oil and Petróleos de Venezuela since 1998, and was once one of the 10 largest crude oil refineries in the world. Prior to this joint venture the refinery was owned and operated by Hess Oil Corporation. However, HOVENSA, a substantial sector of the local economy and source of petroleum products to the islands, eventually ran large losses due to market changes and shut down in 2012. These losses were a result of the refinery’s reliance on expensive fuel oil, while mainland refineries had shifted to natural gas as their primary energy source. In September 2015, HOVENSA filed for Chapter 11 bankruptcy. In early 2016, Limetree Bay Refinery was born through a joint venture between ArcLight and Freepoint Commodities, which purchased the HOVENSA energy complex. It quickly improved the existing storage infrastructure and the first customer product shipments were received in March 2016. The storage facility also expanded to employ about 650 people. Limetree Bay Refining announced in November 2018 that it was in agreement with BP’s supply and trading arm for supply, tolling, and product offtake of the refinery in late 2019. BP supplies Limetree Bay Refining with feedstocks and markets a major portion of the product offtake volumes, including low-sulfur fuels that will meet International Maritime Organization (IMO) 2020 mandates. The Limetree Bay Refinery was scheduled to reopen in late 2019 to meet the new international low-sulfur mandates that took effect in 2020. According to the project scope the restarted refinery will be able to process up to 200,000 barrels of crude oil per day, which is half of the volumes previously processed, 500,000 barrels per day.