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BP close to sale of Texas City refinery
http://www.guardian.co.uk/business/2012/sep/19/bp-close-sale-texas-city-refinery
The aftermath of the explosion at BP's Texas City refinery, in which 15 died and 170 were injured. Photograph: Brett Coomer/AP
BP says it is in "advanced talks" with potential purchasers for its Texas City refinery – one of its most troubled assets – and is expecting to sell it before the end of the year.
Shares in BP were up 2.2p to 441.2p by mid-afternoon on Wednesday amid speculation that US company Marathon Petroleum was poised to take over America's third largest refinery for around $2.5bn (£1.5bn).
Neither Marathon nor BP would comment on the identity of any possible purchaser but the UK-based company admitted it was close to the disposal of the refinery where 15 people were killed and 170 injured in an explosion seven years ago.
"We are in advanced discussions regarding potential sale. We have engaged a number of interested, qualified industry participants. We remain on track to announce a transaction before year end," said BP in a statement.
