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Marathon Petroleum Corp (MPC)

MPC on New York Consolidated

39.39USD
29 Jul 2016
Change (% chg)

$1.22 (+3.20%)
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Latest Key Developments (Source: Significant Developments)

Marathon Petroleum expects to complete phase 1 of Galveston Bay refinery next month - CONF CALL
Thursday, 28 Jul 2016 11:15am EDT 

Marathon Petroleum Corp: Expects to complete first phase of multi-year program at the Galveston Bay refinery in Texas city next month - Conference Call . EBITDA contribution from initial phase is expected to average about $80 million/year . Expects Q3 total direct operating costs to be $7.65/barrel on total throughput of 1.85 million barrels/day . Expects Q3 throughput volumes to be down slightly compared to Q3, 2015 due to more planned maintenance . Expects Q3 projected corporate and other unallocated items to be about $75 million . Both heavy and light Canadian crude differentials have returned to more favorable levels as impact of Canadian wildfires subsided . Interested in continuing to build out within its footprint in retail and midstream side Further company coverage: [MPC.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Marathon Petroleum Q2 earnings per share $1.51
Thursday, 28 Jul 2016 06:36am EDT 

Marathon Petroleum Corp : Increased quarterly dividend by 12.5 percent, to $0.36 per share . Q2 total revenues and other income $16,790 million versus $20,581 million last year . Qtrly earnings include charge of $0.03 per share related to impairment of equity method investment held by mplx lp . On july 20, extended trade receivables securitization facility for new three-year term and reduced capacity from $1 billion to $750 million . Replaced existing bank revolving credit facility with four-year $2.5 billion bank revolving credit facility,364-day $1 billion bank revolving credit . Q2 earnings include net benefit of $0.44/share primarily related to reversal of company's lower of cost or market inventory valuation reserve . Marathon petroleum corporation reports second-quarter 2016 results . Q2 earnings per share $1.51 . Q2 earnings per share view $0.97 -- Thomson Reuters I/B/E/S . Qtrly "earnings benefited from improving crack spreads" . Refining & marketing segment income from operations was $1.08 billion in quarter, compared with $1.18 billion in same quarter of 2015 .Q2 revenue view $16.89 billion -- Thomson Reuters I/B/E/S.  Full Article

Marathon Petroleum increases dividend 12.5 percent
Wednesday, 27 Jul 2016 12:45pm EDT 

Marathon Petroleum Corp : Marathon Petroleum Corp. increases dividend 12.5 percent .Sets dividend of $0.36 per share.  Full Article

Marathon Petroleum enters into $2.5 bln credit agreement
Tuesday, 26 Jul 2016 04:05pm EDT 

Marathon Petroleum Corp [MPC.N] : On july 20, 2016, mpc amended its existing accounts receivable securitization facility . Entered into a $2.5 billion four-year revolving credit agreement and a $1.0 billion 364-day revolving credit agreement . Mpc has an option to increase aggregate commitments by up to an additional $500.0 million . Mpc may request up to two one-year extensions of maturity date of four-year credit agreement . First amendment, among other things, reduces capacity of receivables purchase agreement to $750.0 million .First amendment has an option to increase overall receivables purchase agreement capacity by up to an additional $250.0 million.  Full Article

Marathon Petroleum Corp announces dividend
Wednesday, 27 Apr 2016 11:27am EDT 

Marathon Petroleum Corp:Board of directors declared a dividend of $0.32 per share on common stock.Dividend is payable June 10, 2016 to shareholders of record as of May 18, 2016.  Full Article

Marathon Petroleum Corp announces dividend
Monday, 1 Feb 2016 06:46am EST 

Marathon Petroleum Corp:Declared a dividend of $0.32 per share on common stock.Dividend is payable March 10, 2016, to shareholders of record as of the close of business Feb. 17, 2016.  Full Article

Marathon Petroleum Corp - Three workers injured in unit fire at Marathon's Galveston Bay, Tx refinery - Reuters
Monday, 11 Jan 2016 09:49am EST 

Marathon Petroleum Corp:Marathon Petroleum Corp said a unit fire at its 451,000 barrels-per-day Galveston Bay refinery in Texas City, early Monday resulted in three employees suffering burns. - RTRS."The unit involved in the fire was down for planned maintenance. The cause of the fire is under investigation," the company said in a statement. - RTRS.A contract employee was injured and transferred via helicopter to a burn center in Galveston. Two additional contract employees were treated on site for minor injuries and released, the company added. Marathon did not specify the unit involved - RTRS.  Full Article

Marathon Petroleum Corp Galveston Bay worker burned as overhaul starts -source - Reuters
Sunday, 3 Jan 2016 07:04pm EST 

Marathon Petroleum Corp:A worker at Marathon Petroleum Corp's Galveston Bay Refinery in Texas City, Texas, was burned by hydrofluoric acid on Saturday while working on an alkylation unit, - RTRS.which was shut as part of a planned three-month, multi-unit overhaul, a source familiar with plant operations said on Sunday - RTRS.The worker was taken to an area hospital "as a precautionary measure," Marathon spokesman Brandon Daniels said. He provided no details about the incident. - RTRS.The 31,500 barrel per day (bpd) HF Alkylation Unit 3 is one of several units shut for the overhaul at the 451,000 bpd refinery that includes the 120,000 bpd gasoline-producing Fluidic Catalytic Cracking Unit 3, the largest of two FCCUs at the plant - RTRS.FCCU 3 was shut on Tuesday - RTRS.HF alkylation units produce high-octane gasoline components from refining by-products in a catalyst made from the acid. In addition to being corrosive to skin and eyes, hydrofluoric acid can cause fatal damage to the respiratory system - RTRS.The refinery, while under the ownership of BP Plc BP.L, was the site of the deadliest refinery accident in the past decade when 15 workers were killed in a March 23, 2005 explosion that injured 180 people - RTRS.  Full Article

Marathon Petroleum Corp. prices $1.5 billion senior notes offering
Monday, 7 Dec 2015 05:43pm EST 

Marathon Petroleum Corporation:priced $1.5 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of three series of senior notes.$600 million aggregate principal amount of 2.700% senior notes due in 2018.$650 million aggregate principal amount of 3.400% senior notes due in 2020.$250 million aggregate principal amount of 5.850% senior notes due in 2045.2018 senior notes, the 2020 senior notes and the 2045 senior notes were offered at a price to the public of 99.920%, 99.872% and 99.747%, of par, respectively.  Full Article

MPLX LP and MarkWest Energy Partners combination receives further cash consideration from Marathon Petroleum
Tuesday, 17 Nov 2015 06:30am EST 

MPLX LP and MarkWest Energy Partners:Says in connection with the anticipated combination of MPLX and MarkWest, Marathon Petroleum Corp has agreed to further increase amount of one-time cash consideration payable to MarkWest common unitholders to $6.20 per unit.Says total cash consideration of approximately $1.28 billion.Says Marathon Petroleum Corporation increases one-time cash payment to $6.20 per unit on a best and final basis.Says markwest's board and executive management affirm their support for the transaction and its revised terms.Says increases one-time cash payment to $6.20 per unit on a best and final basis.Three of markwest's top unitholders, representing more than 15 percent of voting units, have agreed to vote in favor of transaction.Combination will create mlp which is expected to generate a mid-20 percent compound annual distribution growth rate through 2019.  Full Article

BRIEF-Marathon Petroleum expects to complete phase 1 of Galveston Bay refinery next month - CONF CALL

* Expects to complete first phase of multi-year program at the Galveston Bay refinery in Texas city next month - Conference Call