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…]