Owners of an idled oil refinery in St. Croix, U.S. Virgin Islands, that was once among the world’s largest, plan to invest $1.4 billion to refurbish and restart a portion of the plant, they said on Monday. ArcLight Capital Partners, a private equity firm expects the former Hovensa refinery on St. Croix to be able to process 200,000 barrels per day of crude and deliver fuels to market by January 2020, officials said at a news conference on the island. The Boston-based company spent two years studying the market and developed “a refinery profile we see thriving in the current marketplace,” said John Erhard, an ArcLight partner. It aims to produce fuels that meet an International Maritime Organization mandate […]