August 24, 2012:

Delta Air Line's Trainer, Pennsylvania, refinery is receiving crude oil in its tanks ahead of the restart of some of its units after Labor Day, a source familiar with the situation said on Thursday. Delta bought the 185,000 barrel per day refinery from Phillips 66, which was looking to reduce exposure to the less lucrative East Coast refining industry. Delta bought the refinery, in the first-ever U.S. purchase of an oil refinery by an airline, in order to gain more control over fuel costs, which reached $12 billion last year. The refinery had been shut down at the end of September 2011 by then-owner ConocoPhillips. At that time, the refinery was at least a year overdue for its five-year major turnaround of all the units. After the deal closed, Delta's Monroe Energy subsidiary began a complete turnaround on the plant, with the restart targeted for sometime in early September.

By Reuters