Marathon Petroleum Corp said on Monday it has signed a definitive agreement to purchase BP's Texas City refinery, three intrastate natural gas pipelines and other assets in a deal worth up to $2.5 billion.Marathon Petroleum's shares rose to $56.38 in pre-market trading, after closing on Friday on the New York Stock Exchange at $54.87.The U.S. company said it will also acquire an allocation of BP's Colonial Pipeline Co shipper history, four terminals, retail marketing contract assignments for approximately 1,200 branded sites, and a 1,040 megawatt cogeneration facility.The refinery has capacity of 451,000 barrels per calendar day and 475,000 barrels per stream day.
Marathon Petroleum Corporation (MPC) is a petroleum product refiners, transporters and marketers in the United States. Shares of MPC traded higher by 7.4% or $4.06/share to $58.93. In the past year, the shares have traded as low as $30.24 and as high as $56.92. On average, 3021180 shares of MPC exchange hands on a given day and today's volume is recorded at 3106711.
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