BP sells Calif. plant; no word on Texas City sale

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by T.J. Aulds/ The Daily News

khou.com

Posted on August 14, 2012 at 9:02 AM

TEXAS CITY — BP announced early Monday an agreement to sell its Carson, Calif., refinery to the Tesoro Corp. for $2.5 billion. The company still is in the process of finding a buyer for its Texas City facility.

For more than a year, BP has worked to find buyers for its California and Texas City refineries. It was unclear if the Carson refinery sale meant an announcement regarding Texas City would be coming soon.

BP spokesman Scott Dean said the sale of the Texas City plant was “in advanced discussions” and the company was on the path to announce a sale by the end of the year. He did not offer a more specific timeline.

In February 2011, BP announced plans to refocus its refining and marketing business on its northern U.S. refineries and to find buyers for Carson and the Texas City refinery.

Word of the California refinery sale is likely to kick speculation and the rumor mill within the Texas City refinery into overdrive.

Click here to read more at the Galveston County Daily News.

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