United States

Marathon Petroleum Corp (MPC)

MPC on New York Consolidated

5 Dec 2016
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$0.21 (+0.44%)
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Latest Key Developments (Source: Significant Developments)

Marathon Petroleum agrees to equity participation in Bakken Pipeline System
Tuesday, 2 Aug 2016 07:32pm EDT 

Marathon Petroleum Corp : Marathon Petroleum Corporation agrees to equity participation in Bakken Pipeline System .At closing, will own an approximate 9.2 percent indirect interest in pipeline system in exchange for its investment of $500 million.  Full Article

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

Elliott unveils Marathon Petroleum stake, urges breakup

Elliott Management unveiled it has a 4 percent stake in Marathon Petroleum Corp on Monday, urging the company in a letter to launch a strategic review and consider spinning off its three main businesses.