Shell-Texaco JV to sell two refineries

Equilon Enterprises LLC has signed letters of intent to divest two of its Midwest U.S. refineries. The move is interesting in that it will focus Equilon's operations more on marketing than on refining, while doing the opposite for one of the buyers, Clark USA Inc. of St. Louis. Clark plans to buy Equilon's 295,000 b/d Wood River, Ill., plant, while Houston-based Frontier Oil Corp. wants its 110,000 b/d El Dorado, Kan., refinery. Together, the plants constitute about half of Equilon's refining capacity. With regard to the deal with Frontier, Equilon Pres. and CEO Jim Morgan said, "The proposed sale is part of Equilon's continuing effort to restructure its asse...

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