ExxonMobil to Sell Billings Refinery to Par Pacific Holdings
20 Octobre 2022 - 6:00PM
Business Wire
- Sale includes refinery, associated pipelines and product
terminals
- Exxon- and Mobil-branded service stations network supplied
through long-term brand agreement
ExxonMobil and its affiliates have reached an agreement with Par
Pacific Holdings for the sale of the Billings refinery and select
midstream assets in Montana and Washington.
The sales agreement includes the Silvertip pipeline,
ExxonMobil’s interest in the Yellowstone pipeline and Yellowstone
Energy LP, and its interests in product terminals in both
states.
“ExxonMobil is focused on investing in facilities where we can
manufacture higher-value products such as lubricants and
chemicals,” said Karen McKee, president of ExxonMobil Product
Solutions. “We have proudly operated the Billings refinery since
1949 and we thank our more than 300 talented employees for their
dedicated service.”
Employees directly supporting these assets will be offered
positions at Par Pacific. ExxonMobil remains focused on safe and
reliable operations and ensuring compliance with commitments made
to customers and the relevant government agencies and
regulators.
ExxonMobil will work with Par Pacific to carefully manage the
transition with dedicated teams assigned to maintain customer,
vendor, personnel, community relations and environmental
protection, subject to applicable law.
Par Pacific has agreed to continue to supply Exxon- and
Mobil-branded service stations in the region.
The transaction is expected to close in the second quarter of
2023, subject to standard conditions and applicable legal
requirements, including approval from regulatory authorities.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy and petrochemical companies, creates solutions that improve
quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product
Solutions and Low Carbon Solutions - provide products that enable
modern life, including energy, chemicals, lubricants, and
lower-emissions technologies. ExxonMobil holds an industry-leading
portfolio of resources, and is one of the largest integrated fuels,
lubricants and chemical companies in the world. To learn more,
visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events, strategic plans or future payments
in this release are forward-looking statements. Actual future
results, including future business plans and closing of the sale
and purchase agreements, could differ materially due to changes in
market conditions affecting the oil and gas industry or long-term
oil and gas price levels; political or regulatory developments;
granting of regulatory approvals for the closing of the agreements;
satisfaction of other conditions specified in the agreements;
current or future market values and performance of assets; and
other factors cited under the caption “Factors Affecting Future
Results” on the Investors page of our website at exxonmobil.com. We
assume no duty to update these statements as of any future
date.
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