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Texas City Refinery sale completed by BP

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    Anonymous

    BP has completed the previously announced sale of its Texas City, Texas refinery and a portion of its retail and logistics network in the Southeast U.S. to Marathon Petroleum Corporation for an estimated $2.4 billion. This comprises approximately $0.6 billion in cash, $1.1 billion for the estimated value of hydrocarbon inventory and an earn-out arrangement payable over six years of $0.7 billion (based on assumed future margins and refinery throughput).

    Read more at:
    http://www.pennenergy.com…ailyPetroFebruary42013
    February 1, 2013
    By PennEnergy Editorial Staff

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