BP in £1.5bn refinery talks

Published on 20/09/2012 00:00

BP IS in talks to sell its refinery in Texas in a move that could net the oil giant up to $2.5 billion (£1.5bn).

A spokesman for the group said: “We remain in advanced negotiations for a sale of the Texas City refinery. We remain on track to announce a sale by year-end 2012.”

The spokesman declined to discuss likely negotiating partners but recent reports have suggested Marathon Petroleum is a possible buyer.

The talks are thought to have been under way for months, after BP signalled its intention to sell its US refineries last year. In August it said it would offload a refinery in California for $2.5bn.

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BP in £1.5bn refinery talks

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