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ExxonMobil sells Torrance refinery for more than $530 million

2015-10-01 06:14:25| Oil & Gas - Topix.net

ExxonMobil Corp., hounded by regulatory investigations into its safety record since a February explosion tore through the company's Torrance refinery , confirmed today it has sold the crippled plant for $537.5 million to independent refiner PBF Energy. The announcement this afternoon comes a year to the day after the oil giant denied - but industry sources confirmed - that the refinery was on the block.

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Exxon Mobil to sell troubled Southern California refinery

2015-10-01 00:00:39| Oil & Gas - Topix.net

The oil giant and PBF Energy Inc. announced Wednesday that the sale of the Torrance plant is expected to close next year. The shutdown led to a shortage of gasoline that meets California's stricter pollution regulations and led to higher prices at the pump for drivers in the Golden State.

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Exxon Mobil to sell troubled Southern California refinery

2015-10-01 00:00:38| Oil & Gas - Topix.net

Exxon Mobil Corp. is selling its troubled Southern California refinery for $537 million to a New Jersey energy company more than six months after an explosion crippled the plant and led to higher gas prices in the Golden State, according to an announcement Wednesday. PBF Energy Inc., one of the largest independent oil refiners in North America, said it will purchase the Torrance plant that can produce 155,000 barrels of oil a day.

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