SAN ANTONIO - Locally based NuStar Energy LP has agreed to sell its San Antonio refinery and related assets to an Indianapolis-based Calumet Specialty Products Partners LP for $115 million.
Calumet will pay $100 million for the plant on the Southeast Side, along with about $15 million for inventory.
Calumet will acquire NuStar's terminal in Elmendorf and a 12-mile pipeline that links the refinery to the terminal, as well as storage. The plant and terminal have 76 employees.
NuStar bought the refinery and a terminal in Elemendorf out of bankruptcy in April 2011 for $41 million, and the company has invested about $54 million since then on improvements to the 14,500-barrel-a-day plant.
Calumet hopes to complete NuStar's plan to add finished gasoline to the plant's product mix and will consider beefing up its capacity.
Read more at the San Antonio Express-News.
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