Fuel / NEWS UPDATE
CVR Energy Nears $4 Billion Refinery Deal With Marathon
Published · 1 min read
Marathon Petroleum is nearing a $4 billion deal to sell several refineries to CVR Energy, according to a Wall Street Journal report.
This sale reflects high refining margins, driven by disruptions from conflicts in the Middle East and Russia-Ukraine, making refineries attractive targets for acquisition. Other companies, including Valero, Exxon, and Chevron, are also expanding their refining operations.