Marathon in talks to sell Minnesota refinery

摘要

Marathon is mum on smaller refineries that it is shopping around and investment banking sources say that the company is in advanced negotiations to sell its 79,000-b/d St. Paul Park, Minn., refinery. The buyer is believed to be NTR Acquisition Co., a group of refining executives that at one point came close to acquiring California-based Kern Refining.rnMarathon completed a 180,000-b/d expansion project at its Garyville, La., refinery late last year and is on schedule to complete turnaround maintenance on the older portion of the refinery next month. The entire complex has a capacity of 436,000 b/d, and makes Marathon one of the largest net sellers of light products. The company has also been offering for sale its 76,000-b/d Texas City plant. The additional output from Garyville would more than make up for gasoline and diesel shed if Marathon sells the two smaller plants.