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

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Saudi Aramco (ARMCO) reported Q4 results Sunday, meeting street expectations, guiding to higher capex, and forecasting higher production capacity by the middle of the decade:  Earnings - 2021 operating income met analyst expectations, with results of 772b riyals, versus Bloomberg consens...

Marathon Petroleum has a terrific track record of providing sky-high shareholder value despite a steep pandemic-related sell-off. The company has high free cash flow generating operations, used to boost buybacks and (dividends once the debt load has come down a bit). Long-term div...

This week's DOE inventory update showed a larger than expected 5.6mb draw in oil and oil products (USO). TSA checkpoint numbers pointed to a ~7% increase in passenger volume week on week (JETS). California legislators proposed a $400 tax rebate to mitigate the impact of rising gasoline prices...

--News Direct-- Marathon’s Martinez Renewable Fuels facility provided nearly $30,000 in grants recently for multiple shelters and homeless outreach programs in Contra Costa County in California. Each of the organizations works to provide supplies and care for some of the nearly 1...

Oil and gas are currently trading lower than the record high prices they hit earlier this month. But with global tensions still unresolved, lingering supply constraints and rising demand have the potential to again drive oil prices to fresh highs. Therefore, we think it could be wise to bet o...

Russia's war in Ukraine revealed several vulnerabilities in global energy markets. The diesel supply has not been a major focus in the press; however, self-sanctioning has reverberated through diesel commodity markets. Shortly following invasion, the price of diesel in Europe spiked to a $50+...

Marathon (NYSE:MPC) (NYSE:MPLX) has resumed flows on its Ozark pipeline in Illinois Wednesday, and the pipe is flowing at ~330kb/d or ~90% of nameplate capacity, following a leak reported late last week. The pipe links Cushing to the Philips (NYSE:PSX) and Cenovus (NYSE:CVE) Wood Ri...

Refiners were hit particularly hard in a day that saw oil and gas related stocks post broad losses, as Valero Energy (VLO -6.8%) racked up the biggest loss of the entire S&P 500, with Phillips 66 (PSX -3.7%) and Marathon Petroleum (MPC -2.9%) also down sharply along with crude oil prices....

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...