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Wisconsin's only oil refinery to be purchased $475 million

Murphy Oil Corporation
Murphy Oil Corporation

SUPERIOR, WI (WTAQ) - Wisconsin’s lone oil refinery has been purchased by an Indianapolis company which says it will continue operations at the Superior facility.

Calumet Specialty Products is in the refining business, and sees adding Superior’s Murphy Oil Refinery as a way to expand their capacity.

In a conference call with investors, Calumet Partners Chief Operating Officer Jennifer Straumins says the refinery is well-run and in a good location near Canada’s Manitoba oil shale fields.

Murphy Oil had plans for a $7 billion expansion of the Superior refinery, which it put on hold when it couldn’t find a financial partner.

Straumins says it’s too early to talk about that until the deal is closed by the end of September.

Calumet will pay $475 million to buy the Murphy Oil Refinery in Superior, which employs 154 peopl