Murphy Oil Corporation is putting its Superior, Wisconsin oil refinery up for sale.
Murphy is also selling refineries in Louisiana and England, and its chain of U.K. fuel stations. President and CEO David Wood said the company intends to focus on its U.S. retail business including Murphy USA fuel stations.
"The refining assets are marginal in size within Murphy Corporation's worldwide portfolio, and are no longer strategic for us," Wood said. "In 2009, these businesses contributed $4.2 million, or just 0.5 percent of our bottom line."
Wood said Murphy Oil has already been contacted by parties interested in purchasing the businesses and said there are no plans to close any of the oil refineries. The Superior refinery is considered small, with a 35,000 gallon-a-day capacity.
The plant employs about 150 workers. Murphy Oil had drawn up plans for a huge expansion in Superior, but never followed up, citing market conditions. The Superior refinery just completed a $50 million upgrade to reduce sulfur content in diesel fuel.