CNBC reports Delta Air Lines is nearing a deal to purchase a ConocoPhillips oil refinery in Trainer, Delaware County.
Sources say there is no official deal, but the price tag is between $100 million and $125 million. The deal would involve J.P. Morgan purchasing fuel from overseas, shipping it to Pennsylvania, refining it and then selling it to Delta.
Delta emerged as a bidder earlier this month but would not comment on the proceedings. ConocoPhillips extended its deadline to sell the refinery, pushing the bid due date back from March 30 to the end of May.