HOVENSA L.L.C.

HOVENSA L.L.C. was a joint venture between Hess Corporation and Petróleos de Venezuela, S.A. (PDVSA) that operated a large petroleum refinery on St. Croix, U.S. Virgin Islands. Established in 1998, it was once among the largest refineries globally, with a crude oil processing capacity of over 500,000 barrels per day. The company ceased its refining operations in January 2012 due to significant financial losses, converting the facility into an oil storage terminal. The storage terminal operations continued until March 2015, after which HOVENSA L.L.C. filed for Chapter 11 bankruptcy in September 2015. In 2016, the HOVENSA Environmental Response Trust (ERT) was established to manage the legacy environmental contamination and wind down the company's remaining affairs.