Marathon Petroleum Corp ( MPC.N ) agreed to buy rival Andeavor ( ANDV.N ) for more than $23 billion in the largest-ever tie-up between U.S. oil refiners, giving the combined company a nationwide presence and increased access to growing export markets. The United States has become the world’s top fuel exporter, shipping more than 3 million barrels per day (bpd) of gasoline and diesel. Refiners have capitalized on booming output from shale fields in Texas and North Dakota and are building out export terminals and processing facilities. Buying Andeavor gives Marathon more exposure to the booming U.S. shale oil sector, thanks to Andeavor’s existing logistics and terminal operations in Texas and North Dakota shale regions. Rising output from the Permian Basin, the largest oilfield in the United States, has driven the nation’s crude production to an all-time record above 10.5 million bpd. “The combination of the two […]