Western Refining
Parent Marathon Petroleum | | |
Subsidiaries | Western Refining Logistics | |
---|---|---|
Website | marathonpetroleum.com |
Western Refining, Inc., is a Texas-based
The company is headquartered in
Western Refining owns and operates a wholesale division that works in conjunction with the refining operations. Through the refineries and these affiliated companies, Western Refining serves a broad customer base in Arizona, California, Colorado, Minnesota, Nevada, New Mexico, western Texas, Utah, Wisconsin, northern Chihuahua, Mexico, and the central East Coast region.[14]
In late 2016, it was announced that the
In 2017, Western Refining was acquired by
Western is currently a subsidiary of Marathon Petroleum, after Marathon's acquisition of Andeavor in 2018.[18]
History
The El Paso refinery was originally two refineries across from each other on Trowbridge Avenue, one operated by
On August 28, 2006, Western Refining bought Giant Industries (GI) for $1.23 billion in cash, creating the fourth-largest publicly traded independent oil refiner in the USA. The combined company created the capacity to handle about 216,000 barrels a day from four refineries, about 84% more than Western's current capacity at the time.[20]
On November 12, 2013, Western acquired ACON Investments and TPG's ownership interests in Northern Tier Energy LP(NTI) for $775 million. This acquisition included the
In addition to its refineries, Giant Industries, based in Scottsdale, Arizona, owned a crude-oil-gathering pipeline system based in Farmington, New Mexico, a fleet of crude-oil and finished-product truck transports and a chain of retail service stations and convenience stores in New Mexico, Colorado, and Arizona.
Current capacity
The current capacity of the El Paso refinery is 128,000 barrels per day. An expansion is in the planning stages for 2013/2014 to increase capacity to 150,000 barrel per day.[22] The refinery near Gallup, New Mexico, has a capacity of 26,000 barrels per day after an expansion during 2012. Western Refining also owns a refinery in Bloomfield, New Mexico, but it's currently closed.
Western Refining sold the Yorktown terminal and refinery as well as a segment of an oil pipeline in New Mexico to subsidiaries of
Terminals and other locations
Western Refining has refined products terminals in Albuquerque and Bloomfield, New Mexico, and Yorktown, Virginia, asphalt terminals in Phoenix and Tucson, Arizona, Albuquerque, and El Paso. It also has a fleet of crude oil and finished product truck transports, and wholesale petroleum products operations in Arizona, California, Colorado, Nevada, New Mexico, Texas, Utah, Virginia and Maryland.[24]
Retail
Western owns and operates more than 260 convenience stores and gas stations located in Arizona, Colorado, New Mexico, and Texas.[25] The company markets under its own brands of Giant, Mustang, Sundial, and (through Northern Tier Energy in the Minnesota, Wisconsin and South Dakota) SuperAmerica, plus a number of locations feature the brands of other oil companies. They also license Western branded fuel to other retail stores.[26] Western both purchases oil from the Mexican parastatal Pemex and sells refined oil products back to buyers in Mexico.
Western Refining Logistics
In July 2013 Western Refining hoped to raise $287.5 million in a public stock offering for its recently formed pipeline and storage subsidiary, Western Refining Logistics (WNRL). The subsidiary, formed as a limited partnership, will operate, develop, and acquire terminals, storage tanks, pipelines and other logistic assets, the company reported in a filing with the U.S. Securities and Exchange Commission. It now has 300 miles of crude oil pipelines and gathering systems, and storage and terminal facilities for crude oil and fuel in West Texas and New Mexico.[27]
The bulk of the money raised from the stock offering would go to the parent Western Refining to reimburse the company for the assets used to form the logistics company, Western reported in its filing. It would use $50 million of the money raised for general partnership purposes, it reported.
The logistics company will initially get all revenue through a 10-year, fee-based agreement with the parent Western Refining for pipeline, terminal and storage services it reported. The fees are expected to total almost $120 million next year, or 92 percent of its forecasted annual revenues of almost $131 million.
External links
References
- ^ "Western Refineries". Western Refininf. Retrieved 2016-04-04.
- ^ "Western Refining Reports Fourth Quarter and Full Year 2014 Results". 2015-02-27. Retrieved 2015-02-27.
- ^ "Western Refining Reports Fourth Quarter and Full Year 2014 Results". 2015-02-27. Retrieved 2015-02-27.
- ^ "Western Refining Reports Fourth Quarter and Full Year 2014 Results". 2015-02-27. Retrieved 2015-02-27.
- ^ "Western Refining Reports Fourth Quarter and Full Year 2014 Results". 2015-02-27. Retrieved 2015-02-27.
- ^ "Western Refining Reports Fourth Quarter and Full Year 2014 Results". 2015-02-27. Retrieved 2015-02-27.
- ^ "The World's Biggest Public Companies". Forbes.
- ^ "Fortune 500 2015: Fortune 500 Companies 151-200". CNN.
- ^ "The World's Biggest Public Companies". Forbes.
- ^ "Western Refining Press Release – Western Refining". Retrieved 2013-06-26.
- ^ "The World's Biggest Public Companies". Forbes.
- ^ "Hoovers company information – Hoovers". Retrieved 2013-02-26.
- ^ "Western Refining Supply Areas – El Paso Times". Archived from the original on 2018-12-30. Retrieved 2013-03-26.
- ^ "Western Refining Products and Services – wnr.com". Retrieved 2013-06-26.
- ^ "Oil and Gas Journal".
- ^ "Tesoro, Western Refining stockholders approve $6.4 billion merger & acquisition deal". San Antonio Business Journal. Retrieved 28 March 2017.
- ^ "Tesoro completes $5.8 billion purchase of Western Refining". El Paso Times. 2 June 2017.
- ^ "Marathon Petroleum Corp. and Andeavor Combination to Create Leading U.S. Refining, Marketing, and Midstream Company". Marathon Petroleum. 30 April 2018.
- ^ "Profile: Our History – Jobing.com". Retrieved 2013-08-19.
- ^ "Profile: Western Refining to buy Giant Industries – USA TODAY". USA Today. 2006-08-28. Retrieved 2013-08-19.
- ^ "Western Refining Acquires Ownership Interests in Northern Tier Energy LP –". Retrieved 2013-11-15.
- ^ "Western Refining rises on oil boom – El Paso Inc". January 20, 2013. Retrieved 2013-06-26.
- ^ "Western Refining sells its Yorktown refinery – Bizmology". January 5, 2012. Retrieved 2013-06-26.
- ^ "western refining Corporate Profile –". 2013-08-23. Retrieved 2013-08-25.
- ^ "Western Refining Company, L.P. Company Information – Hoovers". Retrieved 2013-06-26.
- ^ "Business Bio: Western Refining – Greater Phoenix Chamber of Commerce". Retrieved 2013-08-25.
- ^ "Western Refining logistics subsidiary – aims for $287 million in proposed stock offering". El Paso Times. Retrieved 2013-09-15.