The company expects to complete the sale of the refineries in Texas and the Carson refinery near Los Angeles along with marketing assets in southern California, Arizona and Nevada by the end of 2012.
BP plans to focus on refining and marketing networks in the country based around the Whiting, Indiana and Cherry Point, Washington refineries and its 50% share in the Toledo, Ohio plant.
The British oil company said that these refineries have greater flexibility to refine a range of crude oils including heavy grades, and on average are more diesel-capable than BP’s current portfolio.
The Carson refinery, which has 265,000 barrels per day (bpd) refining capacity and supplies some 25% of Los Angeles gasoline demand, became part of BP through the 2000 acquisition of ARCO.
The Texas City refinery, which has a processing capacity of 475,000bopd, became part of BP with the 1998 merger with Amoco.
