12 August 2013 16:23 [Source: ICIS news]
HOUSTON (ICIS)--Calumet has acquired seven of Murphy Oil’s crude oil loading facilities in North Dakota and Montana, the US-based specialty hydrocarbon and fuels products producer said on Monday.
The transaction closed on 9 August, and financial terms were not disclosed.
Calumet can now transport crude oil directly from the point of lease into the loading facilities and then into the Enbridge system, where it can be routed to Calumet’s refineries and third-party consumers.
“This acquisition expands our growing portfolio of crude oil logistics assets, while positioning us to purchase increased volumes of price-advantaged feedstock directly from producers that operate in some of the major shale plays encompassing our refineries,” said Jennifer Straumins, chief operating officer of Calumet Specialty Products Partners.
As part of the transaction, the two companies terminated an existing agreement, in which Murphy supplied Calumet’s Superior refinery in Wisconsin with 10,000 bbl/day of crude oil.
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