BP (BP +0.8%) may get less than half the $2.85B it planned for selling its Texas City refinery,...

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP +0.8%) may get less than half the $2.85B it planned for selling its Texas City refinery, Bloomberg calculates, as values for U.S. plants haven’t kept pace with rising profits. The average price of U.S. refineries sold since 2009 indicates the plant should sell for ~$1B, a valuation that would be among the lowest in two decades. A source says Valero (VLO) may be interested.