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
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