Marathon plans new name, upgrade for BP Texas City refinery
Marathon Petroleum, which officially completes its acquisition of the 415,000 bpd complex on Friday, has begun referring to the Gulf Coast site as the Galveston Bay refinery.
By BEN LEFEBVRE
Marathon Petroleum (MPC) plans on giving BP's Texas City refinery a clean sweep, officials said on Wednesday.
Marathon referred numerous times to the 415,000 bpd plant as the Galveston Bay refinery.
After completing the $1.6 billion purchase of the plant on February 1, Marathon will also spend part of its $1.6 billion capital expenditures budget to upgrade the refinery.
Rebranding the Texas City refinery was expected, with it being the site of numerous environmental violations and accidents, including one that killed 15 people and injured 170 others in 2005.
The sale agreement between the two companies was first announced in October.
Dow Jones Newswires