Vertex Energy completed the acquisition of Mobile Chemical from Shell for $75m.

Vertex Energy Operating, a refiner of alternative feedstocks and marketer of high purity petroleum products, completed the acquisition of Mobile Chemical, an oil refinery, from Royal Dutch Shell, for $75m. "We acquired an exceptional refining and logistics asset of scale, one equipped with significant feedstock optionality, together with a high-value, distillate-weighted product slate. As part of this transaction, Vertex assumes ownership of more than 3m barrels of crude oil and product storage, together with other valuable logistics assets. Our vision for this site is that of diversification. We seeks to lead the southeast region in marketing next generation fuels and products that are not currently produced by the refinery today. Our entry into these new markets is expected to generate significant, long-term value for our shareholders, while adding new jobs and economic stimulus to the regional market," Benjamin P. Cowart, Vertex President and CEO.