The
UK
supermajor
aimed
to
divest
the
facility
as
part
of
a
$38
billion
corporate
slimdown
following
the
Macondo
disaster.
The
475,000
barrel-per-day
refinery
was
also
the
site
of
a
deadly
explosion
in
2005
that
killed
15
people
and
raised
widespread
questions
about
safety
practices
at
the
UK
supermajor.
The
deal
is
made
up
of
$600
million
cash,
$1.1
billion
for
oil
and
gas
inventory
and
the
remainder
from
future
payouts.
The
refinery,
formerly
BP's
largest
in
the
world,
lies
south
of
Houston
near
Galveston
island.
“The
teams
running
the
Texas
City
refinery
and
related…
