MPC News and Press, Marathon Petroleum Corporation From 03/14/22

Crews from Marathon Petroleum (MPC -1.1%) and state and local environmental agencies are working to clean up an oil spill that happened Friday afternoon in southern Illinois near Edwardsville, which leaked an estimated 165K gallons into a local canal before containment. As of 7 p.m. on Sunday...

Given the hit to supply from sanctions on Russia, domestic crude producers like Continental Resources and Diamondback Energy are uniquely positioned to benefit from higher WTI crude prices. Harold Hamm purchased $20 million of Continental Resources last week. Other interesting ins...

Following news over the weekend that Russia and Ukraine were nearing a diplomatic agreement, the broader energy complex sold off Monday morning. WTI (NYSEARCA:USO) was lower by ~$8, while the sector (NYSEARCA:XLE) sold off ~4% in early trading. Tellurian (NYSE:TELL) led the way lower, followe...

--News Direct-- Marathon Petroleum provided a $250,000 grant to complete construction of a new center for North Dakota’s Gateway to Science. The new complex will give students and visitors access to a hands-on science center that promotes educational activities and reaches ...

In a direct address to the oil & gas industry Tuesday, President Biden said, "to the oil and gas companies ... it's no time for profiteering or price gouging." Hours later, Senator Warren made an appearance on MSNBC saying, "I'm co-sponsoring a bill on windfall profits tax. We get it...

Marathon Petroleum reported a better-than-expected adjusted income of $794 million, or $1.30 per share, for the fourth quarter. Revenues were up significantly from $18.19 billion to $35.61 billion. The company repurchased shares worth $2.742 billion during the October-December period....

--News Direct-- Marathon Petroleum Corporation (MPC) is connecting underserved youth who live near its Salt Lake City refinery with dental care they may not be likely to receive otherwise. MPC recently gave a $50,000 grant to the Roseman University College of Dental Medicine to fund two...

Absent a takeover offer by Berkshire Hathaway, now may be a great time to sell Occidental Petroleum. Peak bullish sentiment for crude oil and natural gas is here, as Russia invades Ukraine. We look to be in the exact opposite, news-induced, energy market setup today vs. the pandem...

Pump prices in the U.S. are surging at the fastest pace since Hurricane Katrina in 2005, with AAA reporting the national average for a gallon of regular gasoline rising $0.11 to $3.83 on Friday, the highest since September 21, 2012. Gas prices have soared $0.18/gal since Wednesday and $0.29/g...

After markets closed Tuesday, Neste (OTCPK:NTOIF) and Marathon (NYSE:MPC) announced a renewable fuels joint venture, whereby the Finnish fuels producer will pay Marathon (MPC) $1b for 50% of its Martinez project. The project is expected to have production capacity of 260mg/y by the 2nd half o...