Texaco Press Release - Equilon to Sell Wood River Refinery to Tosco
HOUSTON (April 6, 2000) -- Equilon Enterprises LLC ("Equilon") today announced it has signed a letter of intent to sell the 295,000 barrels a day Wood River Refinery in Roxana, Ill., to Tosco Corporation. The companies are preparing definitive agreements with the goal of closing the sale by June 1, 2000.
The proposed sale includes refining and chemical operations owned by Equilon or its affiliate companies, and excludes lubricants compounding and certain pipeline and transportation assets. The transaction is subject to regulatory review.
Rob J. Routs, president and chief executive officer, Equilon, said, "This sale continues Equilon's plan to focus on West Coast refining and our marketing, terminal, pipeline, lubricants and trading businesses."
Equiva Trading Company will pursue long-term crude supply and products offtake agreements with Tosco to help meet Equilon's customer needs in Midwest markets.
The refinery employs approximately 980 people plus 200-300 contractors' employees.
Routs said, "Wood River has very dedicated and talented employees-these people have been the key to successfully running the refinery during very challenging times over the past 82 years."
Equilon is a Houston-based joint venture company that combines the major elements of Shell's and Texaco's former western and midwestern U.S. refining and marketing businesses, and their nationwide transportation and lubricants businesses.
Tosco Corporation is an independent oil refiner and marketer of petroleum products. Headquartered in Stamford, Conn., Tosco has five refinery complexes with a total capacity of 950,000 barrels a day, approximately 6,500 retail outlets in 30 states and 25,000 employees nationwide.
WOOD RIVER REFINERY FACT SHEET
- Began operation in 1918 by Shell affiliate Roxana Petroleum Company
- Located in Roxana, Ill., approximately 15 miles north of St. Louis near the Mississippi River. Facility covers 2,000 acres
- Refining capacity of 295,000 barrels per day (42 gallons per barrel)
- Processes nine crude slates including foreign (four dominant crude slates)
- Products: automotive gasoline, diesel, jet fuel and residuals
6.3 million gallons of gasoline a day
1.3 million gallons of furnace oil a day
1.6 million gallons of jet fuel a day (major supplier to St. Louis Lambert Field)
- Products shipped by pipelines, barge, rail and trucks
- Mississippi River dock has about 1,000 berthings annually
- Market area is eastern Missouri, Illinois, Indiana, Ohio, Michigan and Wisconsin
- Refinery employs approximately 980 people plus 200-300 contractors' employees a day.
- Approximately 640 employees are represented by one of 10 AFL-CIO union affiliates
Updated: April 2000