ExxonMobil sold Montana refinery for $310 million
ExxonMobil agreed to sell its refinery and related pipeline assets in Billings, Montana, to Par Pacific Holdings for $310 million.
The deal ended years of efforts by the American oil giant to further reduce its refining business and concentrate production in its plants along the Gulf Coast and the Midwest of the United States. The company has also been selling oil production assets to improve returns.
Karen McKee, head of ExxonMobil's product solutions department, said: "ExxonMobil is focusing on investing in facilities that can produce higher value products such as lubricants and chemicals."
ExxonMobil said in a statement that the transaction of the 63000 barrels per day refinery is expected to be completed in the second quarter of 2023.
You May Interested In
Glow70/KLOW80 99% China Peptides Warehouse Direct Delivery Lyophilized Powder in Stock
$1.8E+2/UNIT FOB
2026-09-18
Trade Alert
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Related News
-
Shell Plans to Sell U.S. Chemical Assets for Up to $8 Billion, with ExxonMobil and LyondellBasell Joining the Bidding
-
Production Down 6%, Profits Cut by $3.7 Billion: Middle East Conflict Hits ExxonMobil Hard
-
Rumors Swirl Around ExxonMobil’s Asset Slim-Down: Fate of European Chemical Plants Uncertain
-
ExxonMobil Expands 99.999% Ultra-Pure Isopropyl Alcohol Production, Targeting Semiconductor Market
-
ExxonMobil Buys Multiple Batches of Naphtha to Prepare for Start-Up of Its Huizhou Integrated Petrochemical Facility in China
-
ExxonMobil unveils major plan: 18% increase in oil and gas production by 2030
-
ADNOC acquires 35% stake in ExxonMobil’s US hydrogen production plant
-
ExxonMobil Adds Air Liquide to World’s Largest Low-Carbon Hydrogen Project
-
ExxonMobil redoubles commitment to advanced recycling in Baytown
-
ExxonMobil Announces Shutdown of Cracker Unit in France! Focus on Developing Core Energy
Recommend Reading
-
![Wanhua Chemical's Fujian 800,000 t/y MDI Plant Undergoes Scheduled Maintenance]()
Wanhua Chemical's Fujian 800,000 t/y MDI Plant Undergoes Scheduled Maintenance
-
![Givaudan Introduces New Labdanum Absolute for Fragrance Creations]()
Givaudan Introduces New Labdanum Absolute for Fragrance Creations
-
![Covestro Builds New 660,000-ton MDI Plant in China: Global Supply Gap Meets Chinese Overcapacity Head-On]()
Covestro Builds New 660,000-ton MDI Plant in China: Global Supply Gap Meets Chinese Overcapacity Head-On
-
![Dow × Hisense’s Innovation Code: A Deep Game of Sustainability]()
Dow × Hisense’s Innovation Code: A Deep Game of Sustainability
-
![BASF Builds New Alkyl Polyglucoside Plant in Thailand, Expands Its Business Footprint in Asia]()
BASF Builds New Alkyl Polyglucoside Plant in Thailand, Expands Its Business Footprint in Asia
-
![Methanol Market Prices Rapidly Decline]()
Methanol Market Prices Rapidly Decline
-
![The eighth round of spot price increases for coke has been fully implemented, with major Chinese steel mills raising coke prices]()
The eighth round of spot price increases for coke has been fully implemented, with major Chinese steel mills raising coke prices
-
![Palm Oil Prices in June Show Mixed Trends]()
Palm Oil Prices in June Show Mixed Trends
-
![In June, the Chinese epoxy resins market saw a significant one-sided decline]()
In June, the Chinese epoxy resins market saw a significant one-sided decline
-
![In June, the soda ash market in China continued to decline]()
In June, the soda ash market in China continued to decline
