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NORTH SALT LAKE, Utah (AP) -- Bankrupt oil company Flying J Inc. is putting its Utah refinery up for sale. One analyst says it could go for cheap.
Flying J says it needs to unload the North Salt Lake refinery to pay some debts and emerge from bankruptcy.
New York-based refinery analyst Ann Kohler says about 10 refineries are up for sale nationwide with prices lagging. She says Flying J will have to offer a big discount.
Ogden-based Flying J says it's closer to selling a refinery in Bakersfield, Calif.
The company, which filed for bankruptcy reorganization last December, already has sold a pipeline subsidiary in Texas. It plans to merge its truck stops with rival Pilot Travel Centers.
Utah has five crude-oil refineries.
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Information from: The Salt Lake Tribune
(Copyright 2009 by The Associated Press. All Rights Reserved.)
