Delta to Buy ConocoPhillips Refinery in Delco?

An unidentified source has told CNBC’s Kate Kelly that the board of Delta Air Lines has “signed off” on a deal to drop $100-$125 million to purchase the ConocoPhillips oil refinery on the Delaware River. Apparently Delta thinks it can save 10 percent on its jet fuel purchases if it owns its own refinery. That would mean that the idle Delco facility could help Delta save considerably, considering the company spent $12 billion on jet fuel last year. [Inquirer]