AMOCO OIL WEIGHS SALE OF UTAH REFINERY, TERMINALS

AMOCO OIL WEIGHS SALE OF UTAH REFINERY, TERMINALS

Amoco Oil Co. is considering the sale of its 42,000-barrel-a-day refinery in

Salt Lake City and related marketing operations.

A spokeswoman said the company doesn't have a target time for the sale of the facilities, which Amoco said fall on the fringe of its operations.Along with the refinery, Amoco is weighing the sale of one marketing terminal in Salt Lake City, two in Idaho (at Boise and Burley) and 39 Rainbo- brand service stations in Utah.

Amoco said its plan to sell the facilities "is based on an analysis of its overall business objectives and direction, future capital requirements and the need to deploy its capital in the areas of the greatest strategic importance to the company."

The spokeswoman said Amoco has forecast it will need to spend $2 billion to $4 billion in this decade to upgrade facilities to meet the requirements of new environmental regulations.

Amoco said if a buyer isn't found, it would "continue to operate these assets as a profitable business concern." Amoco employs 226 people at the refinery and 15 people at the terminals. The Rainbo operation employs 59 people full-time.

A sale would affect jobbers in Utah, Idaho, Wyoming, Nevada, Colorado, Washington and Oregon, who receive petroleum products from the refinery and terminals.

Amoco has retained Morgan Stanley to advise it on the transaction.