* Cuts capex view to less than $70 mln from $71 mln
* Says to restart Krotz Spring refinery soon
* Sees Calif throughput in 20,000-30,000 bpd range
BANGALORE, May 7 Refinery operator Alon USA
Energy Inc (ALJ.N) slightly lowered its full year capital
spending outlook and said it expects to restart its Krotz
Spring refinery in Louisiana in a few weeks time.
"Our (original) budget was $71 million. We have under spent
in the first quarter ... We haven't officially lowered the
number but we would spend less than the $70 million range,"
Chief Executive Jeff Morris said in a conference call with
The 83,100 barrel-per-day (bpd) refinery at Krotz Springs,
which Morris said will start in a few weeks, has been shut down
since November 2009.
Morris also said he expects throughput for Alon's
California refineries to be in the middle of 20,000 bpd to
30,000 bpd range and lowered asphalt sales outlook for the
"In our original business plan, we were projecting 1.2
million tons of asphalt sales from the Company, we are now
projecting for the year 1 million tons, but also, going
forward, an improvement in margins."
Morris said the company was moving forward to finalizing
its acquisition of the Bakersfield, California refinery it
bought from Flying J Inc, which filed for bankruptcy in
On Thursday, Alon reported a narrower-than-expected
quarterly loss, partly helped by retail fuel sales.
Shares of the company were down 2.2 percent at $6.65 Friday
on the New York Stock Exchange.
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(Reporting by Arup Roychoudhury in Bangalore; Editing by Prem