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Marathon Petroleum and MPLX sells Minnesota and North Dakota refineries and related midstream assets for $4.2 billion

November 2026

Client(s) Marathon Petroleum Corporation and MPLX LP

Jones Day is advising Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) and certain of their affiliates in connection with the $4.2 billion sale of their St. Paul Park and Mandan Refineries to CVR Energy, Inc. (NYSE: CVI).

The St. Paul Park refinery has a crude oil capacity of 105 thousand barrels per calendar day (bpcd), and the Mandan refinery has a crude oil capacity of 72 thousand bpcd. Following the transaction, MPC will continue to operate one of the nation's largest refining systems, with an aggregate crude oil refining capacity of approximately 2.8 million bpcd.

The transaction is expected to close at the end of 2026, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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