ConocoPhillips looking to sell Alliance refinery in Louisiana - report
ConocoPhillips is seeking buyers for its Alliance refinery in Belle Chasse, La., Bloomberg News reported Wednesday, citing two people familiar with the company's plans.
The plant might fetch $700 million to $1 billion excluding inventory, Bloomberg cited Sam Margolin, a refining analyst for Global Hunter Securities, told Bloomberg in a telephone interview. 
The US oil and gas company intends to create a new company called Phillips 66 with next year's spinoff of its refining, chemicals and pipeline businesses, and the Alliance sale would happen after the split, Bloomberg cites one of its sources as saying.
ConocoPhillips spokesman Rich Johnson declined to comment, according to Bloomberg.
The refinery has 247,000 bpd of capacity, making it the 20th largest in the US, according to the Energy Information Administration (EIA).
Dow Jones Newswires
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