Marathon Petroleum and MPLX to Sell Refineries to CVR Energy for $4.2 Billion

Nov 3, 2026 11:44 AM

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Marathon Petroleum Corp. and MPLX LP have agreed to divest their St. Paul Park refinery in Minnesota and Mandan refinery in North Dakota, along with related midstream assets, to CVR Energy, Inc. for $4.2 billion, plus inventory value and adjustments. The transaction is subject to customary closing conditions, including antitrust clearance, and is expected to close at the end of 2026.

AI-generated summary

Marathon Petroleum Corp. and MPLX LP have entered into a definitive agreement to divest the St. Paul Park refinery in Minnesota and the Mandan refinery in North Dakota to CVR Energy, Inc.

The transaction also includes related midstream assets. CVR Energy will pay a total purchase price of $4.2 billion, plus inventory value and subject to purchase price adjustments.

The transaction is expected to close at the end of 2026. Completion remains subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

This article may include AI-generated content that is human-reviewed, which is for reference and general information purposes only and does not constitute investment advice.

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