Philadelphia Energy Solutions Inc, owner of the largest and oldest refinery on the U.S. East Coast, is facing another financial crisis just months after emerging from a controversial bankruptcy, according to two sources and a Reuters review of court filings. PES, which exited bankruptcy in August, saw its cash balance fall to $87.7 million at the end of 2018, down from $148 million just three months earlier, a $61 million decline, according to a post-bankruptcy financial report filed late last month. The company entered bankruptcy roughly a year ago with $43 million cash on hand, court documents show. Refineries based on the East Coast suffer from difficult economics due to the cost of shipping crude oil from West Texas or […]