Welcome to our dedicated page for Marathon Pete news (Ticker: MPC), a resource for investors and traders seeking the latest updates and insights on Marathon Pete stock.
Marathon Petroleum Corporation (MPC) is a leading integrated downstream energy company operating one of North America's largest refining systems. This dedicated news hub provides investors and industry professionals with essential updates on MPC's operational developments, strategic initiatives, and market positioning.
Access timely MPC press releases, earnings announcements, and regulatory filings alongside curated analysis of significant corporate events. Our repository covers key areas including refining capacity updates, retail network expansions, and midstream infrastructure developments, providing critical insights into MPC's operations across the energy value chain.
Stay informed about MPC's environmental initiatives, partnership announcements, and leadership changes through verified sources. This resource serves market participants needing to track MPC's responses to energy market dynamics, regulatory changes, and technological advancements in petroleum processing.
Bookmark this page for continuous access to MPC's latest corporate communications and energy sector updates. Check regularly for comprehensive coverage of Marathon Petroleum's operational milestones and strategic decisions.
On July 12, 2022, Marathon Petroleum Corp. (MPC) expressed profound sorrow over the passing of long-serving board member Steve Davis. Chairman John Surma emphasized Davis's vibrant contribution and friendship, noting the significant loss to the organization. Davis had been a board member for nine years, bringing invaluable insights to the company's operations. Marathon Petroleum remains a key player in the energy sector, operating the largest refining system in the U.S. and owning a significant interest in MPLX LP, enhancing its market presence.
Marathon Petroleum Corp. (NYSE: MPC) will hold a conference call on August 2, 2022, at 11 a.m. EDT to discuss its second-quarter financial results for 2022. Interested stakeholders can listen live via MPC's website. A replay will be available for two weeks following the call. Financial documents, including the earnings release, will be accessible before the call. MPC is a major integrated downstream energy company, operating the largest refining system in the U.S. More details can be found at www.marathonpetroleum.com.
Marathon Petroleum Corp. (MPC) reported a net income of $845 million, or $1.49 per diluted share, for Q1 2022, recovering from a net loss of $242 million in Q1 2021. Adjusted EBITDA reached $2.6 billion, with Refining and Marketing contributing $1.4 billion. Operating activities generated $2.5 billion in cash, aided by $0.6 billion in favorable working capital changes. MPC also announced a 15% reduction target for Scope 3 greenhouse gas emissions by 2030. Approximately $8 billion in shares have been repurchased to date, part of a $10 billion return of capital program.
Marathon Petroleum Corp. (NYSE: MPC) has declared a $0.58 per share dividend on common stock, payable on June 10, 2022. Shareholders on record as of May 18, 2022 will receive this dividend. Headquartered in Findlay, Ohio, Marathon is a leading downstream energy company with the largest refining system in the U.S. The company's marketing includes branded locations and a significant partnership in MPLX LP, which operates midstream assets.
Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on May 3, 2022, at 11 a.m. ET to discuss its 2022 first-quarter financial results. The call will be accessible via the company's website, and a replay will be available for two weeks post-event. Marathon Petroleum is a leading downstream energy company, operating the largest refining system in the U.S. It also holds a majority stake in MPLX LP, which offers midstream services. For more details, visit Marathon Petroleum's website.
Marathon Petroleum Corp. (NYSE: MPC) announced a 50/50 joint venture with Neste for its Martinez renewable fuels project, with Neste contributing $1 billion towards project development. MPC will manage the project, targeting a production capacity of 260 million gallons per year of renewable diesel by late 2022, increasing to 730 million gallons by the end of 2023. The partnership aims to provide low carbon intensity fuels in line with California's climate goals, leveraging both companies' expertise in renewable energy and operations.
Marathon Petroleum Corp. (NYSE: MPC) has set a target to reduce absolute Scope 3 Category 11 greenhouse gas emissions by 15% from 2019 levels by 2030. This initiative is part of MPC's ongoing commitment to improve environmental performance while meeting energy needs sustainably. The company has been aligning its GHG disclosures with industry guidelines, including the Task Force on Climate-related Financial Disclosures since 2017. MPC also emphasizes the importance of refineries in calculating these emissions based on operational yields.
Marathon Petroleum Corp (MPC) reported a fourth-quarter net income of $774 million, or $1.27 per diluted share, a significant increase from $285 million, or $0.44 per share, in Q4 2020. Adjusted net income was $794 million, or $1.30 per share. The company has returned approximately $3 billion through share repurchases and announced an additional $5 billion repurchase authorization. For 2022, MPC's capital spending outlook is set at $1.7 billion, focusing heavily on growth capital, particularly for the Martinez refinery conversion project, with an estimated cost of $1.2 billion.
Marathon Petroleum Corp. (NYSE: MPC) will hold its annual shareholder meeting on April 27, 2022, at 10 a.m. EDT, in a virtual format via live webcast. Shareholders recorded by March 2, 2022, are eligible to vote. Further details will be provided in the company's proxy statement. Marathon Petroleum is a leading downstream energy company, operating the largest refining system in the U.S. and featuring branded retail locations nationwide. For more information, visit marathonpetroleum.com.
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