Hovensa says the refinery on St. Croix will operate as an oil storage facility. The company had 2,000 workers when it announced the closure in January. The company said in a statement Tuesday that the workforce will go down to 100 after a transition period.
The refinery was a joint venture of U.S.-based Hess Corp. and Venezuela's state-owned oil company. It was producing about 350,000 barrels per days. But the company said it lost $1.3 billion over the past years because of weak demand and high operating costs.
