By OGJ editors
HOUSTON, July 26 -- As part of a strategy announced last year to exit the refining business, Murphy Oil Corp. has entered an agreement to sell its 33,250-b/cd refinery at Superior, Wisc., to Calumet Specialty Products Partners, Indianapolis.
The sales price is $214 million plus the value of hydrocarbon inventory, subject to adjustments. On June 30, the inventory value was $260 million.
In addition to the Superior facility, Murphy hopes to sell its 125,000-b/cd refinery at Meraux, La., and its 106,000-b/cd refinery at Milford Haven, Wales.
The company, based in El Dorado, Ark., also plans to sell its UK retail system (OGJ, Aug. 2, 2010, Newsletter). It will concentrate on exploration and production and US retailing.
Products of Calumet Specialty Products, which has six plants in Northwest Louisiana, Pennsylvania, Texas, and Illinois, include naphthenic and paraffinic oils, aliphatic solvents, white mineral oils, petroleum waxes, petrolatum, and hydrocarbon gels.
Calumet officials said acquisition of the Superior refinery will boost the company’s total throughput capacity by 50% to about 135,000 b/d.