Marathon Petroleum to buy BP Texas City

摘要

Houston—Fifteen months after separating from Marathon Oil, independent refiner Marathon Petroleum bulked up its refining profile by agreeing to buy BP’s 475,000 b/d Texas City, Texas facility for up to $2.5 billion—its first significant acquisition as a stand-alone company. Marathon shares leaped as much as 9% after the early-morning announcement October 8, but simmered down to close the day at $57.92, up $3.05 or more than 5.5%.