Marathon Andeavor Deal Creates Third US Super Refiner

摘要

With Marathon Petroleum’s $35.6 billion takeover of Andeavor, three US merchant refiners are now among the 10 largest global refiners — an outcome few would have foreseen a decade ago. Although the US has long boasted some of the world’s most economically competitive refining capacity, it took the country’s upstream renaissance to transform the fate of its downstream sector from rationalization and stagnation to continued profitability and growth. Marathon’s monster deal was touted for its ability to ride these tailwinds for years to come, but the industry has a tough fight ahead to maintain its advantage, according to Energy Intelligence’s North America Value-Chain research service.