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March 01, 1995| Times Staff and Wire Reports

Clark Closes Deal for Chevron Refinery: The Port Arthur, Tex., facility will more than double Clark's refining capacity and enable it to produce more types of fuel. Clark Refining & Marketing Inc., based in suburban Clayton, Mo., paid Chevron Corp. $70 million for the plant and $125 million for inventory. Clark will also pay up to $125 million over the next five years, depending on the plant's performance. The deal was finalized Monday. Chevron, based in San Francisco, will continue to operate a facility at Port Arthur that packages chemicals and lubricating oil. The Texas refinery can produce 200,000 barrels a day.

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