New US refning champion goes coast to coast

摘要

Marathon Petroleum and Andeavor aim to join forces through a $23bn transaction to create the US’ largest independent refner. The companies’ merged portfolio would stretch from coast to coast and into western Mexico. The entity would boast substantial midstream businesses in the Permian and Marcellus shale basins, supply more than 11,500 retail outlets and operate over 3mn b/d of refning capacity. Executives expect to complete the deal by the end of this year, pending shareholder approvals and a regulatory review. Massachu- setts senator Ed Markey has raised concerns over potential market dominance, but there is little obvious overlap in the frms’ strategies and footprint.