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Marathon Petroleum Corp (MPC.N)

MPC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Marathon Petroleum Says MPLX Lp Entered Into A Term Loan Providing For 364-Day $4.1 Bln Term Loan Facility​
Friday, 5 Jan 2018 

Jan 4 (Reuters) - Marathon Petroleum Corp ::MARATHON PETROLEUM CORP SAYS ON JANUARY 2, MPLX LP ENTERED INTO A TERM LOAN PROVIDING FOR A 364-DAY $4.1 BILLION TERM LOAN FACILITY​ - SEC FILING.MARATHON PETROLEUM - ‍PROCEEDS FROM LOAN AGREEMENT BORROWING TO BE USED TO FUND CASH CONSIDERATION PAYABLE BY MPLX UNDER CONTRIBUTION AGREEMENT.  Full Article

REG-Marathon Petroleum And MPLX LP to Exchange MPC's General Partner Economic Interest
Friday, 15 Dec 2017 

Dec 15 (Reuters) - Marathon Petroleum Corp ::REG-MARATHON PETROLEUM CORP. AND MPLX LP ANNOUNCE AGREEMENT TO EXCHANGE MPC'S GENERAL PARTNER ECONOMIC INTERESTS, INCLUDING IDRS, FOR MPLX COMMON UNITS.MARATHON PETROLEUM - TO EXCHANGE GP ECONOMIC INTERESTS IN MPLX FOR 275 MILLION NEWLY ISSUED MPLX UNITS VALUED AT ABOUT $10.1 BILLION.MARATHON PETROLEUM - EXCHANGE IS EXPECTED TO BE ACCRETIVE TO DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO COMMON UNITHOLDERS IN Q3 AND FOR FULL YEAR 2018.MARATHON PETROLEUM - UPON DEAL CLOSING, CO TO CONTINUE TO CONTROL MPLX THROUGH OWNERSHIP OF NON-ECONOMIC GP INTEREST IN MPLX.MARATHON PETROLEUM - UPON CLOSING, MPC TO CONTINUE TO CONTROL MPLX VIA OWNERSHIP OF NON-ECONOMIC GP INTEREST IN MPLX.MARATHON PETROLEUM - UPON CLOSING, MPC TO OWN APPROXIMATELY 64 PERCENT OF OUTSTANDING MPLX COMMON UNITS.MARATHON PETROLEUM​-TO WAIVE PORTION OF Q4 LP DISTRIBUTIONS ON NEW UNITS OVER WHAT WOULD HAVE BEEN DISTRIBUTABLE TO CO FOR GP INTERESTS ABSENT THE DEAL.  Full Article

Marathon Petroleum agrees to drop down $8.1 bln assets worth $8.1 bln to MLPX
Tuesday, 14 Nov 2017 

Nov 13 (Reuters) - Marathon Petroleum Corp :Marathon Petroleum Corp and MPLX LP announce agreement for approximately $8.1 billion dropdown to MPLX, and MPC initiates offer to exchange its general partner interests, including its IDRS, in MPLX.Transaction is expected to close on Feb. 1, 2018, and be immediately accretive to MPLX's distributable cash flow per unit​.Dropdown agreement approved by MPLX board following approval of terms of transaction by its independent conflicts committee​.‍MPC is contributing the assets and services in exchange for $4.1 billion in cash, MPLX equity valued at about $4 billion​.In connection with entering into dropdown agreement, MPLX entered into a commitment letter with Mizuho Bank Ltd​, among others.Commitment letter was for $4.1 billion 364-day term-loan facility to be funded upon closing of dropdown deal expected on Feb. 1, 2018​.‍MPC also offered to MPLX board exchange of GP economic interests in MPLX for newly-issued MPLX common units​.  Full Article

Marathon Texas City refinery reports emissions from alkylation unit
Wednesday, 1 Nov 2017 

Oct 31 (Reuters) - Marathon Petroleum Corp :Marathon Petroleum Texas City, Texas refinery reports emissions from alkylation unit.Marathon reports an ammonia cylinder found empty and the cause was under investigation .Related story: Ammonia cylinder rupture shakes Marathon's Texas City refinery: sources nL2N1N60RD.  Full Article

Marathon Petroleum sees Q4 total throughput of 1,925‍​ MBPD
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Marathon Petroleum Corp :Marathon Petroleum Corp sees Q4 total throughput of 1,925‍​ MBPD - presentation.  Full Article

Marathon Petroleum Q3 earnings per share $1.77 including items
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Marathon Petroleum Corp :Reg-Marathon petroleum corp. Reports third-quarter 2017 results.Q3 earnings per share $1.77 including items.Q3 earnings per share view $1.48 -- Thomson Reuters I/B/E/S.Marathon petroleum corp qtrly total revenue and other income $‍19,386​ million versus $16,460 million.Marathon petroleum qtrly ‍refining & marketing segment reported segment income from operations of $1.097 billion, an $845 million increase from q3 of 2016​.Marathon petroleum corp - ‍company expects to repurchase at least $550 million of its shares in q4​.Q3 revenue view $18.93 billion -- Thomson Reuters I/B/E/S.  Full Article

Jana Partners LLC dissolves sole share stake in Alphabet, Marathon Petroleum
Wednesday, 15 Feb 2017 

Jana Partners LLC: Jana Partners LLC dissolves sole share stake in Alphabet Inc - SEC filing . Jana Partners LLC dissolves sole share stake in Marathon Petroleum Corp . Jana Partners LLC dissolves sole share stake in Kate Spade & Co .Change in holdings are as of Dec 31, 2016 and compared with the previous quarter ended as of Sept 30, 2016.  Full Article

Marathon Petroleum agrees to equity participation in Bakken Pipeline System
Wednesday, 3 Aug 2016 

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 

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 

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

BRIEF-Marathon Petroleum Corp Announces Make-Whole Redemption Of Its Outstanding 2.700 PCT Senior Notes Due 2018

* MARATHON PETROLEUM CORP. ANNOUNCES MAKE-WHOLE REDEMPTION OF ITS OUTSTANDING 2.700 PCT SENIOR NOTES DUE 2018