BP PLC (BP) expects the sale of its Texas City and Carson refineries in the U.S. to fetch in excess of $3.7 billion, the company's refining head Iain Conn said Tuesday.

A recent refining deal between Petrochina and Ineos set the benchmark of $5,000 a thousand barrels of refining capacity, Conn told reporters in London .

The two BP refineries, with a combined capacity of 740,000 barrels a day, are among the most highly upgraded facilities in the world and are expected to fetch a higher price, he said.

BP has already talked to potential buyers for Texas City , but hasn't yet opened discussions for buyers of the Carson plant in California .

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