Marathon Petroleum Buys BP’s Texas City Refinery

The deal could be worth as much as $2.5 billion if certain benchmarks are met
Texas City Refinery

Texas City Refinery | Click to Enlarge

Marathon Petroleum has agreed to buy BP’s Texas City Refinery and related marketing and logistics assets for as much as $2.5 billion. The refinery has a 451,000 b/d capacity and is positioned well to benefit from growing production in plays like the Eagle Ford.

The deal includes several related assets: [Read more…]

Marathon Petroleum and Valero Refineries are Adding Eagle Ford Oil

Marathon Petroleum and Valero Energy refineries are expanding to accept more Eagle Ford Shale crude oil. Both companies have expansion plans that will allow greater volumes of oil to flow through the refineries and the companies want Eagle Ford crude because it is easier to refine than the heavy crudes that are imported from South America.

On the back of Marathon Oil’s Eagle Ford Shale acreage acquisition, Marathon Petroleum might stand to benefit the most if refining margins hold.  [Read more…]

Marathon Oil News: More Eagle Ford Deals to Come

News out of Marathon Oil is that it plans to continue its upbeat attitude about the Eagle Ford.  Marathon Oil is fresh off of a 3.5 billion acquisition of Eagle Ford Shale acreage and a recent spinoff of it’s refinery business.  Expect the upstream focused Marathon Oil to continue acquiring shale oil property for development. [Read more…]