Marathon Petroleum to sell Minnesota, North Dakota refineries to CVR Energy
Bitget2026/11/03 11:36- Marathon Petroleum and MPLX agreed to sell two refineries and related midstream assets to CVR Energy for $4.2 billion.
- The St. Paul Park, Minnesota, and Mandan, North Dakota, assets' purchase price excludes inventory value and is subject to adjustments.
- The refining assets will generate $3.45 billion in proceeds; MPLX will receive $750 million, representing nine times forecast 2027 EBITDA.
- Closing is expected at the end of 2026, subject to customary conditions.
- Proceeds are intended primarily for Gulf Coast reinvestment and to support MPLX's growth in the Permian and Marcellus basins.
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