So Long ExxonMobil: Billings Refinery and Assets Sold to Par Pacific
The sale includes the refinery, associated pipelines, and product terminals.
The Silvertip pipeline in its entirety, ExxonMobil's interest in the Yellowstone Pipeline and Yellowstone Energy LP, and their interests in both product terminals are mentioned.
“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.”
Par Pacific plans to offer current ExxonMobil employees a position within the company, and ExxonMobil plans to continue operations during the transition, providing dedicated teams to maintain customer, vendor, personnel, community relations, and environmental protection.
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.
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