4 Energy Stock Stories for Investor Study
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February 04, 2013
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BP (NYSE:BP): Current price $43.81
Late Friday, BP reported that it had completed the estimated $2.4 billion divestiture of its 475,000 barrel-per-day Texas City refinery along with other downstream assets to Marathon Petroleum Corporation. The sale is part of a $38 billion corporate downsize subsequent to the Macondo disaster. The transaction is comprised of $600 million cash, $1.1 billion for oil and gas inventory and the rest from future payouts.
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