Vertex Energy to acquire Shell’s Mobile, Alabama refinery

Royal Dutch Shell (RDSa.L) is selling its 90,000 barrel-per-day (bpd) Mobile, Alabama refinery to specialty refiner Vertex Energy for $75 million plus the cost of hydrocarbon inventory, the company said on Wednesday.

Vertex plans to produce petroleum fuel and renewable diesel at the refinery following the close of the transaction in the fourth quarter of 2021, pending approvals.

Shares of Texas-based Vertex (VTNR.O) surged more than 40% in after-market trading after the deal was announced.

Vertex will also buy co-related logistics infrastructure and hydrocarbon inventory, including more than…