MPC - Fire extinguished at major Marathon Louisiana refinery

Marathon Petroleum (NYSE:MPC) said it has extinguished a fire at its 578K bbl/day Garyville refinery in Louisiana, which exploded into flames at ~9:30 this morning local time; five people were injured in the explosion and fire, according to Reuters. It is not yet known if any damages were significant enough to halt processing units at the complex, but the incident could threaten to reduce fuel supplies and raise pump prices; more than 10% of refining capacity in the region already is idle for repairs and other maintenance work, Bloomberg reports. Marathon Petroleum shares recently rose to three-year highs after beating Q4 earnings estimates and building up its stock buyback program.

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Fire extinguished at major Marathon Louisiana refinery