SARALAND, Ala. (WKRG) — Shell Oil company says it’s selling one of it’s local refineries.
The Mobile Chemical LP Refinery in Saraland has been sold to Vertex Energy out of Texas for $75 million.
The complex is located at the northern end of Mobile Bay and is designed to produce 90,000 barrels of crude oil and other products daily. Shell says the deal is part of its plan to shed refineries that aren’t aligned with trading hubs, chemical plants and marketing businesses.
Vertex says it will offer jobs to the current refinery’s workforce. The sale is expected to close by the end of this year.
Vertex will purchase its hydrocarbon inventory at the time the sale is complete, which could add as much as $85 million to the deal.