Wisconsin’s only oil refinery is up for sale. Arkansas based Murphy Oil Corporation announced this week that its Board of Directors approved plans for exiting the refining businesses to focus on “Upstream” retail sales in the U.S. Murphy’s 35,000-barrel-a-day plant in Superior will be placed for sale, along with larger refineries in Louisiana and the U.K. and a network of 457 U.K retail stations.
Murphy (NYSE:MUR) anticipates a transaction being completed in the first quarter of 2011, according to President and CEO David Wood. Wood said that the company is planning to sell its three refineries after receiving “unsolicited” inquiries, but there are no plans shut them. The company will also retain its network of 1,070 U.S. retail stations.
Murphy employs over 150 people at the Superior Refinery, which began operating in 1950. Murphy has owned the plant since 1956. Murphy also has terminals in several Wisconsin communities, including Madison, Milwaukee and Green Bay.