Refinery buyers and sellers hunt cash

Journal Article · Sat Jul 01 00:00:00 EDT 1995 · Fuel Reformulation

OSTI ID:96109

Gill, D

There`s a high-risk premium in the petroleum refining business today. The ability to transfer assets is viewed with a high degree of skepticism, and capital is not freely available. There are willing buyers and sellers for refinery assets today, but it is tough to qualify for a loan. Private financing also was responsible for a refinery deal that closed recently - the sale of Kerr-McGee`s 100,000-b/d unit in Corpus Christi, Texas. After nearly 3 years on the market, this unit was finally bought by a deep-pocketed private firm, Koch Industries of Wichita, Kan. The purchase price has not been disclosed, but it was probably not rich.

• OSTI ID: 96109
• Journal Information: Fuel Reformulation, Vol. 5, Issue 4; Other Information: PBD: Jul-Aug 1995
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
GASOLINE
PRODUCTION
PETROLEUM REFINERIES
SALES
COMPETITION