Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion, forming a company that would leapfrog Valero Energy Corp as the largest independent U.S. refiner by capacity. Shale oil fields have pushed U.S. crude production to record highs and industry experts argue operations that have capacity to refine light crude like Andeavor will be better positioned to take advantage of the boom. Andeavor also runs refineries in Alaska, California, Minnesota, New Mexico, North Dakota, Texas, Utah and Washington which should complement Marathon’s …read more
Source:: Yahoo Finance
