Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Industrial  | 

El Paso Refinery Changes Ownership — Again

An El Paso refinery on Trowbridge Drive will have its second new owner in less than two years. The refinery, belonging to San Antonio-based Andeavor, is being sold to Ohio-based Marathon Petroleum Corp. as part of the latter’s $23.3 billion acquisition of the former. Other energy real estate headed to Marathon’s ownership on Oct. 1, 2018, will be a Gallup, NM refinery and local Howdy’s convenience stores.

The Andeavor brand resulted from Tesoro Corp.’s $6.4-billion acquisition of Western Refining Inc., which closed in in June 2017.

The El Paso refinery employs 473 people, while area Howdy’s stores employ 400. “Although it is too soon to know for certain if there would be personnel changes at the El Paso refinery, it was acknowledged early on that it takes skilled, experienced people to operate our refineries, and we anticipate a need for the vast majority of our current refining employees,” Marathon’s Chuck Rice, told the El Paso Times.

Pictured: Generic oil refinery


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Connect

Inside The Story

Read More at El Paso Times

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition
NAIOP-11-cube