Murphy completes sales of US refineries

By OGJ editors

Murphy Oil Corp. has completed the sales of its refineries in Meraux, La., and Superior, Wisc., as it withdraws from the refining business to concentrate on exploration and production (OGJ Online, July 23, 2010).

Valero Energy Corp. bought the 135,000-b/d Meraux refinery and related logistics properties for $325 million plus inventories valued at $300 million. The refinery has a 34,000 b/d hydrocracker and extensive hydroprocessing capacity.

Valero said it plans to integrate feedstocks and product blending with its 250,000 b/d refinery at St. Charles, La., about 40 miles away by river. It is building a 60,000 b/d hydrocracker at St. Charles.

The purchase includes a product terminal, 20% interest in the Collins Product Pipeline and terminal, and 3.2% interest in the Louisiana Offshore Oil Port.

A subsidiary of Calumet Specialty Products Partners LP bought the 33,250 b/d Superior refinery for $214 million plus inventories valued at $220 million (OGJ Online, July 26, 2011).

Murphy also plans to sell its 106,000 b/d Milford Haven refinery in the UK along with its UK retail system.

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