NewsMontana News

Actions

Report: ExxonMobil considering selling Billings refinery

Posted at 4:31 PM, Oct 28, 2019
and last updated 2019-10-29 12:03:15-04

ExxonMobil is looking to sell its 60,000-barrel-a-day Billings oil refinery, according to Reuters , which cited three anonymous for the deal.

The news agency reported that representatives for two oil companies, Valero Energy Corp. and Marathon Petroleum Corp., have toured the refinery in Lockwood, according to two of its sources.

ExxonMobil reportedly made similar overtures about selling the Billings plant to PBF Energy in 2016, but a deal fell through, according to Reuters.

The company was seeking about $500 million for the refinery then, and that's roughly what the price would be now, a source told Reuters.

An ExxonMobil official in Billings declined Monday to comment on the report.

"We don't comment on day-to-day operations or market speculation. And that's what we have here, is market speculation," spokesman Dan Carter said.