DOW JONES NEWSWIRES J.P. Morgan Chase & Co. (JPM) has agreed to play a key role to solidify reported plans by Delta Air Lines Inc. (DAL) to buy an idled ConocoPhillips (COP) refinery near Philadelphia, CNBC's Kate Kelly reported Wednesday, citing people familiar with the matter. Delta, which plans to pay between $100 million and $200 million for the refinery in Trainer, Pa., is in talks that call for the bank to buy crude oil as well as pay for shipping costs and for conversion into fuel and other products. Under the plan, Delta then would buy the fuel from J.P. Morgan at an effective wholesale price with the bank retaining the right to sell other refinery products on the open market, according to the report. J.P. Morgan declined comment and Delta said is could not comment on details of the talks, CNBC reported. Conoco declined comment other than to confirm the facility is for sale, CNBC reported. Full story at: www.cnbc.com/id/47017435 -Dow Jones Newswires; 212-416-2900
