St. Paul Park refinery sold as part of $4.2B deal

Marathon Petroleum agreed to sell its St. Paul Park, MN refinery (105k barrels/day, 375 workers) and a North Dakota refinery to CVR Energy for $4.2B. Marathon will receive $3.45B for refineries, MPLX LP $750M for midstream assets. The deal is expected to close by year-end, pending regulatory approval.

CVR Energy (CVI) agreed to buy two refineries and a marketing business from Marathon Petroleum (MPC) for $4.2B. The deal adds 177,000 barrels/day capacity, boosting CVI's total to 384,000. The acquired assets generated $1.2B EBITDA in 2026. CVI plans to finance with debt, equity, and cash. The deal is expected to close by year-end, pending approval.

CVR Energy (CVI) is acquiring two refineries and a marketing platform from Marathon Petroleum (MPC) for $4.2B. The deal adds 177,000 bpd capacity, 590 fuel locations, and $1.2B in EBITDA. CVI expects EPS to more than double, excluding $70M in annual synergies. The transaction is subject to regulatory approval and expected to close by year-end 2026.

MPC Oceanic Group (publicly listed) will acquire a 41% stake in Marlow Navigation, a private ship management firm. The deal strengthens their decade-long partnership, with Marlow retaining independence. Marlow's shareholders will gain a 9% stake in MPC Oceanic. The alliance aims to combine their maritime expertise and support Marlow's generational transition.

Marathon Petroleum and MPLX LP agreed to sell the Mandan refinery and St. Paul Park refinery to CUR Energy for $4.2 billion, including inventory. Marathon will receive $3.5 billion for refining operations, while MPLX gets $750 million for midstream assets. The sale aims to redirect capital to Gulf Coast operations and other growth areas, with the deal expected to close by the end of 2026.

Marathon Petroleum (MPC) agreed to sell its St. Paul Park and Mandan refineries to CVR Energy for $4.2 billion, including related midstream and marketing operations. The sale reduces MPC's northern U.S. refining footprint, allowing it to focus on Gulf Coast operations. MPC reported Q3 2026 revenue of $56.5 billion and net income of $7.4 billion, with a $1.10 dividend. Investors will watch how the sale impacts refining flexibility and margins, as well as the allocation of proceeds.