HOUSTON, March 31 (Reuters) – Independent U.S. refiner Par Pacific Holdings PARR.N is expected take over a 63,000-barrel-per-day (bpd) Billings, Montana refinery from Exxon Mobil XOM.N on June 1, said Exxon spokesperson Julie King on Friday.
Par Pacific agreed in October to buy the Billings refinery from Exxon for $310 million plus the cost of hydrocarbon and other inventory to be valued at the sale’s closing.
A spokesperson for Par Pacific did not reply to a request for comment.
With addition of the Billings refinery, Par Pacific will have four refineries with a combined throughput of 218,000 bpd.
Exxon has said it wants to concentrate on refineries that are connected to adjoining chemical plants.
(Reporting by Erwin Seba; Editing by Sandra Maler)
((erwin.seba@thomsonreuters.com; +1 832 746 4269; Reuters Messaging: erwin.seba.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
