BP and Marathon Petroleum have held talks on the sale of
BP's Texas City refinery, the Financial
Times reported Wednesday, citing people familiar with the
One person said the companies had been in discussions for
months, while another said the refinery might be sold for up to
$2.5 billion, according to the newspaper.
The Texas City refinery has a capacity of 400,780
bpd, according to news reports.
It remains unclear if a deal will be reached.
The selloff would be the latest in BPs aims to help
pay for costs related to the Deepwater Horizon disaster in
2010, bringing the company closer to its aim of $38 billion in
disposals by the end of 2013.
Neither BP nor Marathon could immediately be reached for
comment. Marathon Petroleum is a newly-formed
downstream spinoff company formerly controlled by Marathon
Dow Jones Newswires