Marathon Petroleum acquires Texas refinery from BP
2/2/2013HOUSTON — Marathon Petroleum Corp. on Friday closed its acquisition of BP Plc’s Texas City, Texas, refinery, both companies said.
Findlay-based Marathon Petroleum also said the 451,000-barrels-per-day plant, the site of a deadly explosion in 2005 that killed 15 people, will be renamed the Galveston Bay refinery. Marathon already owns an 80,000-barrel-per-day refinery in Texas City.
The $2.4 billion deal — agreed upon in October — includes inventory, three intrastate natural gas liquids pipelines, four terminals, and other assets.