(Corrects paragraph 3 to say the company's Garyville refinery
is in Louisiana, not Los Angeles)
May 1 Marathon Petroleum Corp, the
third-largest standalone U.S. refining company, reported a 73
percent drop in first-quarter profit as two of its largest
refineries processed less crude oil due to maintenance work.
Income from its refining and marketing business fell 67
percent to $362 million from a year earlier.
The company's Garyville refinery in Louisiana and the
Galveston Bay refinery in Texas were off line in the quarter.
Marathon said net income fell to $199 million, or 67 cents
per share, as the company also took a $64 million charge on a
pension settlement in the first quarter ended March 31.
(Reporting By Sneha Banerjee in Bangalore; Editing by Maju