Marathon Petroleum Announces $4.2 Billion Divestiture of Mid-Continent Assets to CVR Energy
Marathon Petroleum Corporation (MPC) has reached an agreement to sell its St. Paul Park and Mandan refineries, alongside associated midstream assets held by MPLX, to CVR Energy for a total of $4.2 billion. This strategic move is part of a broader plan to divest Mid-Continent assets while refocusing capital reinvestment toward the Gulf Coast region. The transaction marks a significant restructuring of MPC's asset portfolio. As part of its operational guidance, the company has projected fourth-quarter throughput at approximately 2.8 million barrels per day (bpd), signaling continued scale despite the planned divestments.
Topics: Asset Sale Earnings Call Midstream Assets Refinery Divestiture
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Part of the story CVR Energy Nears $4 Billion Acquisition of Marathon Petroleum Refineries (3 articles)