Post Tagged with: "Marathon Petroleum"
St. Paul Park union approves Marathon’s contract, ending work stoppage
Unionized workers will return to work at a Minnesota refinery next week after reaching a six-year contract agreement with Marathon Petroleum that ends a months-long work stoppage, the union said on Thursday.
Teamsters Local 120 in St. Paul Park, …
Marathon Petroleum Corp. announces preliminary results of tender offer
Marathon Petroleum Corp. announces preliminary results of tender offer PR Newsw…
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Marathon Petroleum Corp. announces close of $21 Billion speedway sale and return of capital plans
Marathon Petroleum Corp. Announces Close of $21 Billion Speedway Sale and Return of Capit…
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Marathon Oil, APA profits beat as crude prices recover from pandemic lows
U.S. oil and gas producers Marathon Oil Corp and APA Corp beat Wall Street estimates for first-quarter profits on Wednesday, as COVID-19 vaccine rollouts and easing travel restrictions powered a rebound in oil prices.
Crude prices are up at …
Union urges shareholders to vote against Marathon exec pay: letter
NEW YORK – The Teamsters Union on Monday urged shareholders of oil refiner Marathon Petroleum Corp to vote against an approval on executive compensation, arguing that the company provides outsized and unnecessary exit packages for top leaders.
The union …
Marathon Petroleum names midstream boss as new CEO, to retain unit
Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it.
Hennigan replaces company …
People on the move: Gary R. Heminger to retire from Marathon Petroleum
Gary R. Heminger Announces Plan To Retire From Marathon Petroleum In 2020 After 45 Years
Gary R. Heminger, Chairman and Chief Executive Officer of Marathon Petroleum Corporation (NYSE: MPC), today announced his plan to retire from MPC, where he has …
Marathon heads into earnings targeted by activist investors
Source: Reuters
(Reuters) – Marathon Petroleum Corp will release earnings on Thursday at a time when activist investors are pressuring company executives to make major changes, including potentially spinning off its retail gasoline unit that enjoyed strong margins in the …
Marathon Petroleum board, investors are said to discuss CEO
Source: Houston Chronicle
Marathon Petroleum Corp. board members are meeting this week with activist investors to discuss Chief Executive Officer Gary Heminger’s future and the company’s strategy amid calls to split up its businesses, according to people familiar with the …
Elliott renews call for Marathon Petroleum to split; shares jump
Source: Houston Chronicle
Elliott Management Corp. renewed its push for Marathon Petroleum Corp. to split into three separate businesses, a move the hedge fund said would unlock more than $22 billion in value.
Marathon should divide into separate retail, midstream …
Right-Wing Groups Ask Trump Not to Intervene With Citgo
A bevy of right-wing groups are asking the Trump administration not to intercede on behalf of the Venezuelan opposition government to keep Citgo Petroleum from being seized and auctioned.
The Houston-based refiner Citgo is owned by …
Marathon Petroleum to Merge Midstream Units, Posts Surprise Loss
From Reuters
U.S. oil refiner Marathon Petroleum Corp said on Wednesday it would merge its midstream units in a $9 billion deal, and posted a surprise first-quarter loss due to higher prices of Canadian crude.
The refiner said in October …
Marathon and Andeavor Announce Combined Executive Team
Marathon Petroleum Corp. (NYSE: MPC) announced the executive team that will lead the combined company upon the closing of the combination of MPC and Andeavor (NYSE: ANDV). The new team will include executives from both MPC and Andeavor, leading a …
Big Crude Oil Margins Should Boost U.S. Refiner Earnings
From Reuters
U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.
U.S. independent …
Marathon Petroleum Corp. SVP to Retire
Marathon Petroleum Corporation (NYSE: MPC) today announced the retirement of Thomas M. Kelley, senior vice president, Marketing, effective Oct. 1, 2018.
“Tom’s dedication, insight and business acumen have been tremendous assets throughout his 37-year career,” said MPC Chairman and Chief …
Former MarkWest CEO John M. Fox to Marathon and MPLX: Your Multiple is Over the Top
Stated target value to eliminate Incentive Distribution Rights (IDRs) is in question: Fox says that Marathon Petroleum’s 15x – 20x multiple for elimination of IDRs will damage MPLX unitholders, including MPC, the largest MPLX unitholder
John M. Fox, co-founder and …
Marathon Drops Down Assets to MPLX for $1.05 Billion Cash and Equity
On September 1, 2017, Marathon Petroleum Corp. (ticker: MPC) contributed its joint-interest ownership of pipelines and storage facilities to MPLX, LP (ticker: MPLX), Marathon’s infrastructure arm. The assets are valued at $1.05 billion, Marathon said in a press release.
The …
John Fox, Co-Founder of MarkWest Hydrocarbon, Issues Open Letter To MPC Board
John Fox, Co-Founder Of MarkWest Hydrocarbon, Issues Open Letter To The Board Of Directors Of Marathon Petroleum Corporation Against MPC’s Proposed January 3, 2017 Plan And Offers New Plan
-Accelerated “dropdown” of refining assets hurts long-term MPC value and vastly
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Marathon Petroleum Corporation Reports First Quarter 2016 Results
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Reported first-quarter earnings of $1 million
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Results include pretax charges of $0.06 per diluted share related to the impairment of goodwill and the valuation of inventories at the lower of cost or market
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Completed major turnaround activity and refinery light
Marathon Petroleum had Competitors for MarkWest
Via Columbus Business Journal
Marathon Petroleum had 2 competitors for MarkWest, filing reveals
New details from a Marathon Petroleum Corp. subsidiary reveal two other companies were fighting for the rights to acquire MarkWest Energy Partners, a $2.01 billion oil and …
MLP of Marathon Petroleum Acquires MarkWest Energy Partners for $20 Billion
Combined Companies will Create Fourth Largest MLP
MPLX LP (ticker: MPLX), the master limited partnership (MLP) vehicle of Marathon Petroleum (ticker: MPC), has announced the oil and gas industry’s third-largest acquisition to date in 2015.
According to news releases from …
