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Marathon Petroleum Reports Second-Quarter 2020 Results
7-Eleven Inc Buys Speedway From Marathon Petroleum
Marathon Petroleum Corp Announces Agreement For $21 Billion Sale Of Speedway
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company's seven refineries in the Gulf Coast and Midwest regions of the United States. Its Speedway segment sells transportation fuels and convenience products in the retail market in the Midwest, East Coast and Southeast regions of the United States. The Company's Midstream is engaged in the operations of MPLX LP and certain other related operations. It gathers, processes and transports natural gas, natural gas liquids (NGLs), crude oil and refined products. MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets.
Oil & Gas Operations
539 S Main St
John P. Surma
Non-Executive Chairman of the Board
Michael J. Hennigan
President, Chief Executive Officer, Director
Donald C. Templin
Chief Financial Officer, Executive Vice President
Timothy T. Griffith
President of Speedway LLC
Glenn M. Plumby
Executive Vice President and Chief Operating Officer, Speedway LLC
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Marathon Petroleum Corp has agreed to be the lead company in 2022 talks with the United Steelworkers union (USW) for a new national agreement covering U.S. refinery and chemical workers, said a USW official.
The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp's <MPC.N> Speedway gas stations for $21 billion, brushing aside coronavirus concerns to return to the table five months after initially baulking at the deal.
Marathon Petroleum plans to permanently close two small U.S. oil refineries in Martinez, California, and Gallup, New Mexico, the company said, eliminating 800 jobs in response to lower fuels demand.
Marathon Petroleum plans to permanently close two small U.S. oil refineries in Martinez, California, and Gallup, N.M., the company said, in response to lower fuels demand.
U.S. refiner Marathon Petroleum Corp is delaying all maintenance projects at its 102,000 barrel-per-day St. Paul Park, Minnesota, refinery for 2020, a source familiar with the matter said, amid concerns related to the spread of the novel coronavirus.
* MARATHON PETROLEUM - ON JUNE 11, CO'S UNIT, SPEEDWAY CONFIDENTIALLY SUBMITTED REGISTRATION STATEMENT ON FORM 10 WITH THE U.S. SEC
Marathon Petroleum Corp is operating refineries at minimum rates but sees signs of recovery in demand for gasoline amid the coronavirus crisis, executives said on Tuesday.
U.S. oil refiner Marathon Petroleum Corp on Tuesday cut spending by 30% and detailed other measures to reduce costs, as widespread lockdowns to curb the spread of the COVID-19 pandemic pummel demand for oil and gas.
U.S. oil refiner Marathon Petroleum Corp on Tuesday reported a loss in the first quarter on $12.4 billion in impairment charges, as widespread lockdowns to contain the spread of the COVID-19 pandemic pummeled demand for oil and gas.
* MARATHON PETROLEUM CORP FILES FOR POTENTIAL MIXED SHELF; SIZE NOT DISCLOSED - SEC FILING Source text: https://bit.ly/2VP8oFG Further company coverage:
Marathon Petroleum Corp , the largest U.S. oil refiner, warned on Wednesday of a first-quarter loss on a roughly $7.8 billion write-down from a sharp fall in fuel demand.
* EXPECT TO DEFER OR DELAY CERTAIN CAPITAL EXPENDITURES THAT WE HAD EXPECTED TO MAKE IN 2020.
Marathon Petroleum Corp said on Wednesday it would book goodwill impairment charges totaling $7.3 billion to $7.8 billion in the first quarter resulting from a sharp fall in oil prices.
Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it.
Marathon Petroleum Corp said it will retain the current structure of its midstream business, concluding a long-drawn strategic review of the unit it had undertaken after pressure from shareholders lead by Elliott Management.
An employee at Marathon Petroleum Corp’s Los Angeles refinery tested positive for the coronavirus and went into self-quarantine on Wednesday, said three sources familiar with the matter.
Japan's Seven & i Holdings has decided to abandon its proposed $22 billion acquisition of Marathon Petroleum Corp's Speedway gas stations in the United States, a person familiar with the matter told Reuters.
A portion of Marathon Petroleum Corp's 363,000 barrel-per-day Carson refinery in California has been shut following a fire, the company said on Wednesday.
Marathon Petroleum Corp's quarterly profit halved as the U.S. refiner was forced to write down $1.2 billion goodwill in its pipeline and transportation business that has failed to perform since Marathon acquired it two years ago.
U.S. refiner Marathon Petroleum Corp reported a 53% fall in quarterly profit on Wednesday, as it took a $1.2 billion pre-tax charge primarily related to goodwill impairment in its limited partnership MPLX.
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