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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, Andeavor Don't Expect Divestitures For Deal Approval - Conf Call
Monday, 30 Apr 2018 

April 30 (Reuters) - Marathon Petroleum Corp ::MARATHON PETROLEUM CORP PLANS TO LEVERAGE SPEEDWAY'S RETAIL PRESENCE ACROSS THE COUNTRY TO HELP PROFITABILITY - CONF CALL.MARATHON PETROLEUM - EXPANDED PERMIAN PRESENCE PROVIDES FOR FUTURE GROWTH OPPORTUNITIES - CONF CALL.MARATHON PETROLEUM - COMBINED COMPANY WELL POSITIONED FOR CRUDE PRICE DIFFERENTIALS, SULPHUR REGULATIONS - CONF CALL. MARATHON PETROLEUM CEO - "WE WON'T BE STOPPING ANYTHING THAT WE ACCOMPLISHED" DUE TO MERGER- CONF CALL.MARATHON PETROLEUM - MLPS WON'T COME TOGETHER FOR SOME TIME, THAT'S A DAY 2 ISSUE - CONF CALL.ANDEAVOR <<>> CEO SAYS PROCESS FOR DEAL APPROVAL SHOULDN'T BE UNUSUAL- CONF CALL.ANDEAVOR CEO - WE DO NOT SEE ANYTHING TODAY THAT DOESN'T FIT IN THE COMPANY - CONF CALL.ANDEAVOR CEO - WILL HELP THE COMPANY MOVE FORWARD IN TECHNOLOGY- CONF CALL.MARATHON PETROLEUM - LOOKING AT OTHER OPPORTUNITIES TO TRANSFER CRUDE INTO THE GALVESTONE AREA - CONF CALL.ANDEAVOR - ANDEAVOR'S RETAIL BUSINESS GETS STRENGTH FROM SPEEDWAY BUSINESS - CONF CALL.  Full Article

Marathon Petroleum Says If Deal Is Terminated Andeavor Pay Co A Termination Fee Of $600 Mln In Cash
Monday, 30 Apr 2018 

April 30 (Reuters) - Andeavor ::MARATHON PETROLEUM SAYS IF DEAL IS TERMINATED UNDER CERTAIN CONDITIONS, ANDEAVOR WILL BE OBLIGATED TO PAY CO A TERMINATION FEE OF $600 MILLION IN CASH.MARATHON PETROLEUM SAYS IF DEAL TERMINATED UNDER CERTAIN CONDITIONS, CO TO PAY ANDEAVOR A REVERSE TERMINATION FEE OF $800 MILLION IN CASH .  Full Article

MPLX Qtrly Distribution Increase To $0.6175 Per Common Unit, 14 Pct Increase Over Q1 Of 2017
Monday, 30 Apr 2018 

April 30 (Reuters) - MPLX LP ::REPORTS RECORD FIRST-QUARTER 2018 FINANCIAL RESULTS.QUARTERLY DISTRIBUTION INCREASE TO $0.6175 PER COMMON UNIT, A 14 PERCENT INCREASE OVER Q1 OF 2017.AFFIRMED 2018 DISTRIBUTION GROWTH GUIDANCE OF 10 PERCENT AND EXECUTION OF SELF-FUNDING PLAN.QTRLY TOTAL REVENUES AND OTHER INCOME $1,420 MILLION VERSUS $886 MILLION.Q1 REVENUE VIEW $1.11 BILLION -- THOMSON REUTERS I/B/E/S.QTRLY NET INCOME ATTRIBUTABLE TO MPLX LP PER LIMITED PARTNER UNIT $ 0.61.  Full Article

Marathon Petroleum Corp Reports Q1 Earnings Per Share $0.08
Monday, 30 Apr 2018 

April 30 (Reuters) - Marathon Petroleum Corp ::Marathon Petroleum Corp. REPORTS FIRST-QUARTER 2018 RESULTS.Q1 EARNINGS PER SHARE $0.08.Q1 EARNINGS PER SHARE VIEW $0.15 -- THOMSON REUTERS I/B/E/S.QTRLY TOTAL REVENUES AND OTHER INCOME $18,984 MILLION VERSUS $16,393 MILLION.  Full Article

Marathon Petroleum To Buy Andeavor For More Than $20 Bln - WSJ
Monday, 30 Apr 2018 

April 29 (Reuters) - :MARATHON PETROLEUM TO BUY ANDEAVOR FOR MORE THAN $20 BILLION - WSJ, CITING SOURCES.MARATHON PETROLEUM-ANDEAVOR DEAL VALUES ANDEAVOR AT ABOUT $150 A SHARE IN STOCK AND CASH - WSJ.  Full Article

Marathon Petroleum Says MPLX Lp Entered Into A Term Loan Providing For 364-Day $4.1 Bln Term Loan Facility​
Thursday, 4 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
Monday, 13 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
Tuesday, 31 Oct 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

Exclusive - Large U.S. refiner Marathon seeks biofuel hardship waiver: sources

Marathon Petroleum Corp , the second-biggest refining company in the United States, has asked the Environmental Protection Agency (EPA) for a hardship waiver exempting one of its facilities from the nation's biofuels law, two sources with knowledge of the application told Reuters.