By Rob Meier
meier@newsroom.byu.edu
As oil prices continue to climb, Amoco is looking for a buyer for its North Salt Lake Refinery.
BP Amoco made a corporate decision to sell its North Salt Lake refinery in order to reduce its refining capacity down to 70 percent globally, said Paula G. Barnett, spokesperson for BP Amoco Inc.
'We feel that by reducing our refinery capacity it will help us put out a better product at a good cost,' Barnett said.
Ashok Jhawer, Salt Lake refinery manager, said the North Salt Lake refinery is a top performing refinery in all aspects and operations, but it does not fit into BP's new strategy of retaining only those refineries that provide advantaged supplies.
At this time BP Amoco has no potential buyer for their refinery.
'This refinery is a great facility, so we feel that we will have many interested buyers,' Barnett said.
Amoco will take care of its 190 employees during the transition, Barnett said.
Jhawer said if the employees are not hired once the facility is sold, then Amoco will assist them in finding a job.
'Given the quality of personnel at our facility we would expect potential purchasers to retain the majority of them,' Jhawer said.
During the buying phase Amoco will continue to process about 55,000 barrels of crude oil a day. And customer will see no difference in the change of service, Jhawer said.
Barnett said, that the North Salt Lake refinery is not the only refinery up for sale. Refineries in North Dakota, Yorktown and Virginia are all up for sale.
'In Addition to the refinery, the terminal in Salt Lake City and those in Boise and Burley, Idaho will be offered for sale,' Jhawer said.