When did marathon buy BP Texas City?
Environmental regulations are complicated and reasonable minds can disagree.” Marathon bought Texas’ third-largest refinery in early 2013 for $2.4 billion from BP, which had acquired the 82-year-old refinery in the beginning of 1999 after merging with Amoco Corp.
Is marathon part of BP?
BP announced today it has reached an agreement to sell its Texas City, Texas refinery and a portion of its retail and logistics network in the Southeast U.S. to Marathon Petroleum Corporation for $2.5 billion (which includes $0.6bn of cash at closing, an estimated value of $1.2bn for hydrocarbon inventories and a $0.7 …
When was the Texas City refinery built?
The enormous BP Amoco Oil Refinery in Texas City was built in 1934 by a company called Pan-American Refinery, which was at the time a subsidiary of Standard Oil of Indiana. The success of the refinery and the jobs it provided caused the population of Texas City to skyrocket.
What happened to BP in Texas?
The Texas City Refinery explosion occurred on March 23, 2005, when a hydrocarbon vapor cloud was ignited and violently exploded at the ISOM isomerization process unit at BP’s Texas City refinery in Texas City, Texas, killing 15 workers, injuring 180 others and severely damaging the refinery.
Why did the Texas City refinery explode?
On 23 March 2005, an explosion erupted at BP’s Texas City refinery, which resulted in 15 fatalities, 180 injured and $3 billion in damages and legal settlements. The explosion was caused by the overfilling of the raffinate splitter tower and a blowdown drum releasing hot hydrocarbons.
Which city in Texas has the most refineries?
Refineries in the Gulf Coast area surrounding Houston make up the largest refining center in the United States. The majority of the refineries in the state of Texas are clustered near major sea ports along the Gulf Coast, predominately in the Houston area.
What caused the BP Texas City explosion?
Where is Marathon Oil located in the United States?
Marathon Oil is an independent E&P company, based in Houston. Building on a rich history, with pride in our past achievements, our strategy is resolutely focused on U.S. unconventional resource plays.
When did the Texas City Refinery become part of BP?
The Texas City refinery became part of BP with the 1998 merger with Amoco. It is a large, highly complex refinery with a nameplate 475,000 barrels per day of refining capacity. The refinery employs some 2,150 BP staff and contractor numbers can vary between 1,000 and 3,000 each day.
Who is the CEO of Marathon Oil Company?
From the article Marathon Oil transforms itself into a top-performing oil producer: ” The company’s work to simplify its operations, along with its CEO Lee Tillman’s laser focus on prioritizing cash flow over ‘growth for growth’s sake’ helped push Marathon Oil to the top 10 best performing Houston-based companies on this year’s Chron 100 list.”
When did Marathon Oil come to the Bakken?
Since Marathon Oil began operating in the Bakken in 2006, we’ve had a longstanding tradition of giving back to the communities where we live and work, and 2020 was no different. Marathon Oil is an independent E&P company, based in Houston.