{"id":28925,"date":"2015-09-23T10:47:32","date_gmt":"2015-09-23T10:47:32","guid":{"rendered":"https:\/\/viconsortium.com\/?p=28925"},"modified":"2015-09-23T10:47:32","modified_gmt":"2015-09-23T10:47:32","slug":"monarch-energy-partners-says-it-stands-ready-and-capable-to-purchase-refinery","status":"publish","type":"post","link":"http:\/\/wp.viconsortium.com\/?p=28925","title":{"rendered":"Monarch Energy Partners Says It Stands &#8216;Ready And Capable&#8217; To Purchase Refinery"},"content":{"rendered":"<p>ST. CROIX &#8212; Monarch Energy Partners, Inc., the\u00a0New Jersey-based company that seems resolute in its quest to purchase the defunct HOVENSA oil refinery on the south shore of this island, has issued a press release stating that it stands ready and able to purchase, clean and operate both the terminal and refining portions of the shuttered facility.<\/p>\n<p>&#8220;Monarch Energy Partners, Inc. stands ready, willing, and capable to acquire, clean, and operate the St. Croix refinery. Monarch\u2019s goal is to operate the refinery at full capacity, a goal fueled and motivated by the amount of jobs an operating refinery will bring back to the Virgin Islands, and the positive economic impact it will have on the local economy,&#8221; reads the recently issued press release.<\/p>\n<p>&#8220;Monarch entered into the original sales process that began over a year ago; at which time, government consultants read testimony before the 30th Legislature stating Monarch was next in line, and the backup plan to the proposal on the table in December 2014 \u2014 that proposal was voted down,&#8221; the release added.<\/p>\n<p>Residents have questioned the firm&#8217;s viability and seeming lack of interest in HOVENSA following the <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/viconsortium.com\/business\/abr-deal-dead-sanes-buckley-vote-yes\/\" target=\"_blank\">failure of ABR VI<\/a><\/span> to win the 30th Legislature&#8217;s approval. But Monarch Energy said in its press release that it&#8217;s working nonstop behind the scenes to secure a deal.<\/p>\n<p>&#8220;Monarch has been working tirelessly since then to acquire the refinery,&#8221; the release continued. &#8220;Because time is of the essence, Monarch is eager to move forward and seeks further communication with the sellers. Monarch applauds Governor Mapp for taking a strong stance against Hess, and is dedicated to acquire the refinery if it is truly for sale,&#8221; it concluded.<\/p>\n<p>The firm did not go into detail relating to its efforts to acquire the oil refinery. \u00a0It also did not \u00a0make known the status of a sales process with\u00a0Lazard Asset Management &#8212; the firm hired by the owners of HOVENSA to facilitate the refinery&#8217;s sale &#8212; if any.<\/p>\n<p>And Monarch Energy has been vocal in the past about its desire to own the refinery. In interviews with The Consortium, Monarch said it intends to <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/viconsortium.com\/featured\/monarch-energy-partners-we-expect-to-employ-upwards-of-1500-1600-people-total-part-2\/\" target=\"_blank\">eventually hire 1,500 to 1,600<\/a><\/span>\u00a0workers\u00a0in an effort\u00a0to &#8220;restore St. Croix to better than it was before,&#8221; if allowed to by the refinery. The company also chastised ABR VI last year for wanting to pay\u00a0little to no taxes to the government, calling that portion of the old agreement a \u201c<span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/viconsortium.com\/business\/abr-vi-not-paying-taxes-is-a-slap-in-the-face-to-vi-residents-monarch-energy-partners-say-part-3\/\" target=\"_blank\">slap in the face<\/a><\/span>\u201d to the territory\u2019s people, and the \u201cthe most disrespectful aspect of [ABR VI\u2019s] document.\u201d<\/p>\n<p>And Monarch&#8217;s communication with Governor Kenneth Mapp, if any, also remains unknown. However, the firm has been reaching out to senators, it says, constantly reminding them that it has the means to buy and successful run the facility.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ST. CROIX &#8212; Monarch Energy Partners, Inc., the\u00a0New Jersey-based company that seems resolute in its quest to purchase the defunct HOVENSA oil refinery on the south shore of this island, has issued a press release stating that it stands ready and able to purchase, clean and operate both the terminal and refining portions of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[228,191,2474,147],"tags":[817,3337],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monarch Energy Partners Says It Stands &#039;Ready And Capable&#039; To Purchase Refinery - V.I. Consortium<\/title>\n<meta name=\"description\" content=\"ST. CROIX -- Monarch Energy Partners, Inc., the New Jersey-based company that seems resolute in its quest to purchase the defunct HOVENSA oil refinery....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/wp.viconsortium.com\/?p=28925\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ernice Gilbert\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\/\/wp.viconsortium.com\/?p=28925\",\"url\":\"http:\/\/wp.viconsortium.com\/?p=28925\",\"name\":\"Monarch Energy Partners Says It Stands 'Ready And Capable' To Purchase Refinery - V.I. 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I've been the Editor-In-Chief at my videogames website, Gamesthirst, for over 5 years, writing over 7,000 articles and more than 2 million words. I'm also very passionate about where I live, the United States Virgin Islands, and I'm intent on making it a better place by being resourceful and keeping our leaders honest. VI Consortium was birthed out of said desire, hopefully my efforts bear fruit. Reach me at ernice@viconsortium.com.\",\"sameAs\":[\"http:\/\/ernicegilbert.com\/\"],\"url\":\"http:\/\/wp.viconsortium.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Monarch Energy Partners Says It Stands 'Ready And Capable' To Purchase Refinery - V.I. Consortium","description":"ST. 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