Marathon Petroleum to Purchase BP’s Texas City Refinery

The BP Texas City refinery is one of the largest and most complex in the U.S., with a Nelson complexity index of 15.3. The facility is strategically positioned to provide products throughout the U.S. Gulf Coast, Midwest and Southeast, as well as into export markets. The refinery has the flexibility to process a wide range of crude oils, and has access to price-advantaged mid-continent and Canadian crudes via pipelines as well as waterborne cargoes. The cogen facility provides steam for the refinery and other local third-party facilities and the electric power for the refinery, selling any excess to the utility grid. In addition to the Texas City facilities, the transaction includes three intrastate NGL pipelines originating at the refinery, shipper history on Colonial pipeline representing 50,000 barrels per day and light product terminals in Jacksonville, FL; Charlotte and Selma, NC; and Nashville, TN. The transaction also includes assignment of branded-jobber contracts supplying approximately 1,200 BP retail locations, representing approximately 64,000 bpd of gasoline sales, in the southeastern U.S.