Western Refining buying Minnesota refinery

Western Refining Inc., El Paso, has entered into a definitive agreement to acquire the general partner interest and a 38.7% limited partner interest in Northern Tier Energy, which operates the 89,500-b/d St. Paul Park Refinery in Minnesota.

Western Refining will acquire the interests for total consideration of $775 million from ACON Investments LLC and TPG Capital LP, which acquired the refinery from Marathon Petroleum Co. LP for an estimated $900 million in 2010 (OGJ Online, Oct. 6, 2010). ACON and TPG formed Northern Tier Energy and took the company public as a master limited partnership based in Ridgefield, Conn., in July 2012.

Limited partner units not acquired by Western Refining are publicly traded.

In addition to the refinery, Western Refining will acquire a 17% interest in a 455,000-b/d crude oil pipeline; products terminals, storage tanks, rail facilities, and Mississippi River dockage; and retail assets including 163 company-operated convenience stores and 74 franchised convenience stores mainly in Minnesota and Wisconsin.

The refinery, which has fluid catalytic cracking and reforming capacities, processes 75% light and 25% heavy feedstocks.

Western Refining operates refineries in El Paso (128,000 b/d) and near Gallup, NM (23,000 b/d).

Related Articles

Phillips 66 considers splitter at Sweeny refinery

03/21/2014 Phillips 66 is evaluating the potential for the addition of a condensate splitter near its 247,000-b/d Sweeny refinery in Old Ocean, Tex., just sou...

Second small diesel refinery planned for North Dakota

03/21/2014 Quantum Energy Inc. (QEI), Tempe, Ariz., said it has secured land for the construction of a 20,000-b/d grassroots hydroskimming refinery in North D...

Flint Hills settles Port Arthur pollution case

03/20/2014 Flint Hills Resources (FHR) has reached a settlement with the US federal government to implement innovative technologies to control harmful air pol...

WoodMac: Global ethylene demand, production on the rise

03/20/2014 Ethylene-producing assets that have access to low-cost natural gas feedstocks, such as the ones in North America, will lead the competition in glob...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected