Jan 30 Marathon Petroleum Corp on Wednesday reported a quarterly profit as the U.S. refining company processed higher amounts of cheaper domestic crude oil in its plants, helping lift refining margins.
The company reported a fourth-quarter profit of $755 million, or $2.24 per share, compared with a loss of $75 million, or 21 cents per share, a year earlier.
The refiner more than doubled its fourth-quarter dividend to 35 cents per share and said its board approved an additional $2.65 billion share buyback program.
UPDATE 1-EU proposes new pension product to boost private savings
* Proposal estimated to double growth of sector by 2030 (Adds industry reaction)