From Earlier: Alon USA Announces Plans for New Inventory Arrangements for its California Refineries
Alon USA Energy, Inc. (NYSE: ALJ) announced yesterday that is has completed the repayment of its obligations under its Revolving Credit Facility with Bank of America. Alon also announced that it had entered into a Supply and Offtake Agreement with J. Aron & Company.
This agreement provides for (i) J. Aron to sell to Paramount Petroleum Company, and Paramount to buy from J. Aron, at market price, crude oil for processing at the Company's California refineries and (ii) Paramount to sell, and J. Aron to buy, at market price, certain refined products produced at the Company's California refineries.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.