Energy > Refining, Petrochemicals and Processing

Overview

The dynamics of refining and petrochemicals are changing quickly—but complex regulations and diverse stakeholders remain. Every deal involving refining and petrochemical facilities requires both transactional savvy and long-standing industry knowledge.

Representative Matters

  • Represented 7-Eleven, Inc. in its $21 billion acquisition of the Speedway chain of gasoline stations from U.S. oil refiner Marathon Petroleum Corp. As part of the agreement, 7-Eleven acquired approximately 3,900 Speedway stores located in 35 states. The arrangement includes a 15-year fuel supply agreement for approximately 7.7 billion gallons of gasoline per year.
  • Advised a large U.S. private equity house on its proposed investment in and all development activities relating to a new-build, world-scale propane dehydrogenation/propylene project in Texas. The work included negotiation of feedstock supply, product off take, transportation, EPC, facility sharing, power supply, real estate and other arrangements.
  • Counseled a large independent commodity trader in connection with a large liquefied petroleum gas export project, including numerous long-term propane, butane and natural gasoline supply and sales contracts, as well as related transportation, storage and terminaling agreements. The project involved negotiation of joint venture arrangements with one of Japan’s largest trading companies.
  • Assisted Chevron Phillips Chemical Company in multiple high-profile, cross-border joint ventures, including with The Dow Chemical Company and Qatar Petroleum. These transactions involved the negotiation of feedback supply, long-term offtake, facilities sharing, services, EPC, project finance and license agreements. *
  • Advised Appalachian producers in drafting and negotiating long-term ethane supply agreements with buyers including Shell, INEOS and Braskem in connection with various global ethane crackers.