New owner of Minnesota refinery reports record 3Q profits

Connecticut-based Northern Tier Energy, the new owner of the St. Paul Park refinery, reported quarterly operating income of $199.4 million, up $33.7 million from the quarter a year ago, according to a company news release. Northern Tier credits record productivity at the St. Paul Park refinery and favorable crude oil prices for the boost in profits.

Author:: BMTN Staff
Publish date:: Nov 13, 2012

Connecticut-based Northern Tier Energy, the new owner of the St. Paul Park refinery, reported quarterly operating income of $199.4 million, up $33.7 million from the quarter a year ago, according to a company news release. Northern Tier credits record productivity at the St. Paul Park refinery and favorable crude oil prices for the boost in profits.

However, the Star Tribune reports income from the company's SuperAmerica stores in Minnesota and Wisconsin was down. Northern Tier has 166 company-operated and 67 franchised SuperAmerica stores.

Click here, to follow Northern Tier Energy's stock performance.

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The owner of the St. Paul Park oil refinery and SuperAmerica stores in Minnesota and Wisconsin hopes to raise $341 million in its planned initial public offering. Connecticut-based Northern Tier Energy LP will offer 16.25 million common shares and hopes to fetch $19 to $21 per unit.

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