SOMERSET, Ky. (AP) — Production is scheduled to restart this fall at a central Kentucky oil refinery that has spent much of the last few years offline because of a management dispute and bankruptcy.
New York entrepreneur Demetrios Haseotes bought Continental Refining Co. in Somerset in December. Haseotes told the Lexington Herald-Leader (bit.ly/RDbl0R) that only the flare system used to burn off excess gases had to be replaced.
The plant opened in the 1930s as a market for crude oil producers in Kentucky and Tennessee. It went into bankruptcy in 2007. Haseotes recently announced a deal for Sunoco to supply crude oil to the plant.
The refinery is one of only two in Kentucky can process 5,500 barrels of oil a day. Marathon Petroleum Corp. operates the other facility at Catlettsburg.
Information from: Lexington Herald-Leader, http://www.kentucky.com