BP sells Texas City refinery to Marathon for $2.5 billion

BP says it plans to sell its Texas City, TX, refinery and part of its retail and logistics network to Marathon Petroleum for $2.5 billion. BP, in 2011, announced plans to divest the 475,000 bbl/day refinery—which employs about 2,150 staff as well as 1,000–3,000 contractors/day—as part of BP’s effort to realign its refining portfolio. Realigning priorities: The sale does not include BP's petrochemical complex adjacent to the refinery. The agreement with Marathon does not include BP’s Texas City petrochemicals complex adjacent to the...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers