21 October 2022 | Other

Exxon sells Montana refinery for $310 million

U.S. Exxon Mobil Corp has signed an agreement to sell its refinery in Billings, Montana, and associated pipelines to Par Pacific Holdings Inc. for $310 million.

The deal completes a multi-year effort by the U.S. oil giant to scale back refining and concentrate production capacity at facilities along the Gulf Coast and in the Midwest. In addition, the company is selling oil production facilities to improve profitability.

Karen McKee, the oil company's head of product solutions, said ExxonMobil is focusing on investing in facilities that can produce higher-margin products such as lubricants and chemicals.

The deal is scheduled to close in the second quarter of 2023, Exxon said.

Company MarketCheese
Period: 14.07.2025 Expectation: 945 pips
Delayed tariff implementation may push silver to $35.650
Yesterday at 11:10 AM 40
Period: 18.07.2025 Expectation: 1400 pips
Weak dollar may drive S&P 500 to 6,300
Yesterday at 07:34 AM 39
Brent sell
Period: 11.07.2025 Expectation: 400 pips
Brent falls ahead of OPEC+ decisions
04 July 2025 63
Period: 18.07.2025 Expectation: 900 pips
AUDCAD is likely to keep pulling back from its monthly high
04 July 2025 49
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
03 July 2025 64
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
03 July 2025 246
Go to forecasts