Western Refining Inc. is shuttering its Bloomfield refinery and consolidating the operations of its two northwestern New Mexico plants at its Gallup refinery in a move the company says will save $25 million per year.
The El Paso, Texas-based company says it can still process the same volume of crude oil.
It wasn't immediately known how many workers are employed at the Bloomfield refinery and whether any will be relocated to Gallup.
Western Chief Executive Paul Foster says in a statement that the decision was difficult but necessary to position the company amid "weak industry dynamics." He says the Bloomfield employees will be treated "fairly and with respect."
The company is evaluating other uses for the Bloomfield site, including possible biofuels production.