$MPC (Marathon Petroleum Corporation)

$MPC {{ '2016-08-03T09:23:06+0000' | timeago}} • Announcement

At closing, $MPC will own about 9.2% indirect interest in the pipeline system in exchange for a $500MM investment. Company also expects its subsidiary to become a committed shipper on the Bakken Pipeline system. The system is expected to be ready for service by end 2016.

$MPC {{ '2017-11-14T13:46:51+0000' | timeago}} • Announcement

$MPC announced the retirement of Rodney Nichols, EVP of Human Resources, Health and Administrative Services, effective Jan 1, 2018. David Sauber, currently VP of Human Resources and Labor Relations, has been named SVP of Human Resources, Health and Administrative Services, reporting to CEO Gary Heminger.

$MPC {{ '2017-10-30T18:28:31+0000' | timeago}} • Infographic

$MPC Marathon Petroleum Corp Earnings AlphaGraphic: Q3 2017 Highlights

$MPC {{ '2017-09-01T12:13:40+0000' | timeago}} • Announcement

$MPC and $MPLX closed a transaction in which $MPC contributed its joint-interest ownership in certain pipelines and storage facilities to $MPLX for total consideration of $1.05Bil. These are projected to generate about $138MM of 2018 adjusted EBITDA. $MPC is contributing these assets in exchange for $630MM in $MPLX equity and $420MM in cash.

$MPC {{ '2017-08-03T17:05:12+0000' | timeago}} • Announcement

$MPC revised 2Q17 results to reflect binding settlement agreements related to certain litigation matters. $MPC agreed to pay $86MM in exchange for releases of all claims. Hence, the company recorded a charge of $86MM, or $0.10 per share, in 2Q17. The charge reflects a rise from estimated charge of $40MM or $0.05 per share, reported in 2Q17.

$MPC {{ '2017-07-26T17:19:28+0000' | timeago}} • Announcement

$MPC has declared a dividend of $0.40 per share on common stock, an 11% increase from the $0.36 per share dividend paid in 2Q17. The dividend is payable Sept 11, 2017, to shareholders as of Aug 16, 2017.

$MPC {{ '2017-05-31T21:02:35+0000' | timeago}} • Announcement

$MPC Board approved an additional $3Bil share repurchase authorization. This is in addition to its previous authorization, which had approx $2.14Bil remaining as of March 31.

$MPC {{ '2017-05-30T20:36:30+0000' | timeago}} • Announcement

$MPC appointed Donald C. Templin, president of the general partner of $MPLX, as its President, effective July 1, 2017. Replacing Templin as president of $MPLX's general partner will be Mike Hennigan, effective June 20. Templin and Hennigan will serve as a board member of the general partner of $MPLX.

$MPC {{ '2017-05-22T14:18:39+0000' | timeago}} • Announcement

$MPC announced the retirement of John Haley, VP of Tax, effective July 1, 2017. Rick Linhardt, currently Tax Compliance Manager, will replace Haley as director of Tax effective June 5. In this role, Linhardt has been responsible for $MPC's direct and indirect tax compliance, including income, sales and use, motor fuels excise, and property taxes.

$MPC {{ '2017-05-01T12:49:21+0000' | timeago}} • Announcement

$MPC said Patricia Richards, head of office for its Federal Government Affairs, will retire from the company effective July 1. Jake Menefee, currently federal government affairs manager, will transition into his new role as head of office beginning May 8.

$MPC {{ '2017-04-27T21:52:22+0000' | timeago}} • Webcast

$MPC said this administration is very bullish on infrastructure and improving roads, bridges, and so the company expects that it is going to have a strong asphalt season, 2Q17, 3Q17, mainly because of the inventory that came out of last year. $MPC believes it is a good indicator that being up 6% early in the asphalt season.

$MPC {{ '2017-04-27T21:42:08+0000' | timeago}} • Webcast

$MPC said it is right on track with its strategy of returning capital to shareholders and was very aggressive in 1Q17. Looking ahead, the company expects to continue to be very aggressive in share repurchases. $MPC's activity was bounded to March for 1Q, but the company expects this activity is going to resume into 2Q17.

$MPC {{ '2017-04-27T11:19:05+0000' | timeago}} • Announcement

$MPC said a special committee of the board and its independent advisor expect to complete the ongoing review of Speedway by mid-2017. The company is enthusiastic about the future for MPC and $MPLX and remains focused on driving long-term value for its shareholders.

$MPC {{ '2017-04-27T11:16:27+0000' | timeago}} • Announcement

$MPC reported a rise in 1Q17 earnings driven by solid contributions from the Speedway and Midstream segments as well as higher revenue. Net income rose to $30MM or $0.06 per share from $1MM or $0.003 per share last year. Revenue grew to $16.4Bil from $12.8Bil.

$MPC {{ '2017-04-26T17:06:33+0000' | timeago}} • Announcement

$MPC's BoD declared a dividend of $0.36 per share on common stock. The dividend is payable on June 12, 2017, to shareholders of record as of May 17, 2017.

$FLR {{ '2017-04-11T12:23:47+0000' | timeago}} • Announcement

$FLR announced its selection by a division of $MPC to execute the engineering and procurement scope for a major reconfiguration at its Galveston Bay and Texas City, Texas refineries. $FLR will book the undisclosed contract value into backlog in 1Q17.

$MPC {{ '2017-03-15T11:53:32+0000' | timeago}} • Announcement

$MPC and $MPLX announced the retirement of Randy S. Nickerson, corporate strategy EVP of MPC, effective April 1, 2017. Mr. Nickerson also served as EVP and chief commercial officer, MarkWest assets, of MPLX general partner. Following his retirement, Mr. Nickerson intends to serve in a consulting and advisory role to MPC and MPLX.

$MPC {{ '2017-03-09T14:42:56+0000' | timeago}} • Announcement

$MPC appointed Rodney P. Nichols, SVP of HR and administrative services, to EVP of HR, health and administrative services, effective immediately.

$MPC {{ '2017-02-01T19:52:45+0000' | timeago}} • Webcast

$MPC stated that the reduction and the proposed change in the corporate tax rate will lower the cash tax burden of the company. $MPC added that it will be tough to say at this point about the net impact on the cash tax basis for the company.

$MPC {{ '2017-02-01T19:42:38+0000' | timeago}} • Webcast

$MPC said that in the event of border adjustment tax is passed, the company will pass the incremental cost to the consumer. The company has little over 300,000 barrels today of exports in this quarter and $MPC believes that it has the infrastructure to move that up to 500,000 barrels a day.

$MPC {{ '2017-02-01T19:35:29+0000' | timeago}} • Webcast

Despite the seasonal weakness in demand, $MPC expects gasoline demand to rebound to levels comparable to 2016. $MPC expects 1Q17 throughput volumes to be down slightly compared to 1Q16, due to more planned maintenance during quarter. For FY17, planned maintenance costs to be similar to 2016 levels.

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