Delek Preps for Major Refinery Upgrades Across U.S. in 2024
Attachment: Delek 4Q23
February 28, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Delek US (Brentwood, Tennessee), a subsidiary of Delek Group (Netanya, Israel), is reducing its capital-expenditure program for 2024 from that of last year, when the company's refining business took a hit from lower crack spreads. Delek will focus its U.S. efforts on improving capacity and efficiencies at its major refineries, with further overhauls and upgrades planned for the coming years.
Industrial Info is tracking more than $2 billion worth of active and planned projects from Delek worldwide, including more than $675 million worth in the U.S. Delek executives estimate the company's 2024 capital expenditures will total about $330 million, including $220 million for its refining business and $70 million for logistics. The company's 2023 capital expenditures totaled $389 million.
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