Andeavor acquired by Marathon

Published October 1, 2018 / by Steve Berentson

Don’t look for big changes right now, including use of the name Andeavor, but it was officially announced today (Oct. 1, 2018) that Marathon Petroleum Corp. (MPC) has closed the transaction in which it acquired all of the outstanding shares of Andeavor, owner of the refinery on the north tip of March’s Point. “This transformative transaction is a significant milestone in our company’s more than 130-year history,” said MPC Chairman and Chief Executive Officer Gary R. Heminger. “MPC is now the leading refining, midstream, and marketing company in the U.S., and is well-positioned for long-term growth and shareholder value creation. We are excited to begin unlocking the extraordinary potential across our new platform, including approximately $1 billion of tangible annual run-rate synergies we expect within the first three years. We look forward to sharing more details around our plans at our upcoming December Investor Day.” Photo of Andeavor Refinery taken from “Welcome to Anacortes” pull-out on Highway 20.

About Steve Berentson
A fourth generation Skagit County native who was moved kicking and screaming from this island community in 1960. I finally reclaimed an Anacortes address in 1980, and I have been in constant celebration of my return since that time. Many of us who call Anacortes home love Fidalgo Island for its natural assets: among them are rugged beaches, pristine lakes, thousands of acres of forestland and some awesome views of the Skagit Valley and surrounding islands. Another element of my love affair with this community is its people, both natives and immigrants. They will “star” in many of my journal entries.

Comments are closed.