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.
Marathon Pipe Line (MPL) has donated $20,000 to Riverbend Family Ministries (RFM) in Wood River, Illinois. This donation aims to support children, individuals, and families in Madison County who have experienced trauma due to violence, addiction, poverty, and homelessness. RFM, a collaboration of nine nonprofit organizations, provides essential resources including rental assistance, job coaching, and social service navigation.
MPL Heartland Area Manager Jayson Nohl emphasized that the partnership with RFM aligns with MPL's goal of enhancing the lives of those less fortunate. RFM Fund Development Director Rachael Craddick expressed gratitude for MPL's support, highlighting the impact of corporate philanthropy on empowering individuals and families in need.
Marathon Petroleum (NYSE:MPC) and MPLX LP (NYSE:MPLX) have released two joint reports detailing their sustainability efforts. The Sustainability Report and Perspectives on Climate-Related Scenarios report highlight the companies' progress in reducing greenhouse gas emissions, lowering fuel carbon intensity, and strengthening safety culture.
Key achievements include:
- MPC is extending its Scope 1 and 2 GHG emissions intensity reduction target to 38% by 2035 from 2014 levels
- MPLX has achieved a 57% reduction in methane emissions intensity by the end of 2023
- Both companies are focusing on safety, community engagement, and workforce development
CEO Maryann Mannen emphasizes the critical role of sustainability in the companies' long-term success and their commitment to becoming better organizations.
MPLX LP reported strong financial results for Q2 2024, with net income of $1.2 billion and adjusted EBITDA of $1.7 billion. The company generated $1.6 billion in operating cash flow and $1.4 billion in distributable cash flow. MPLX returned $949 million to unitholders, including a quarterly distribution of $0.85 per unit. The company is progressing its Permian growth strategy, with the Preakness II processing plant starting operations in July. MPLX also increased ownership in the BANGL NGL pipeline and announced the FID of the Blackcomb natural gas pipeline. The Logistics & Storage segment saw an 8% increase in adjusted EBITDA, while the Gathering & Processing segment reported higher volumes across its operations.
Marathon Petroleum Corp. (NYSE: MPC) reported second-quarter 2024 results with net income of $1.5 billion, or $4.33 per diluted share. Adjusted net income was $1.4 billion, or $4.12 per diluted share. Adjusted EBITDA reached $3.4 billion, with net cash from operations at $3.2 billion. The company returned $3.2 billion to shareholders through $2.9 billion in share repurchases and $290 million in dividends. Refining & Marketing segment adjusted EBITDA was $2.0 billion, while Midstream segment adjusted EBITDA increased 6% year-over-year to $1.6 billion. MPC's cash position stood at $8.5 billion, with $5 billion available on its credit facility. The company continues to focus on high-return investments and growth projects in the Permian and Marcellus basins.
Marathon Petroleum Corp. (NYSE: MPC) has announced a quarterly dividend of $0.825 per share on common stock. The dividend will be payable on September 10, 2024, to shareholders of record as of the close of business on August 21, 2024. This announcement demonstrates MPC's commitment to returning value to its shareholders through regular dividend payments. The declaration of a dividend is often seen as a positive sign of a company's financial health and confidence in its future prospects.
Marathon Petroleum 's (MPC) Dickinson renewable diesel facility responded to a call for help from the Association to Meet Emergency Needs (AMEN) food pantry in Dickinson, North Dakota. Employee volunteers gathered thousands of dollars worth of food and essential goods, restocking the pantry's shelves and assisting clients. The initiative included:
1. A $1,000 donation of nonperishable goods from Facility Manager Nick Bear
2. Over 600 pounds of food and goods from a site food drive
3. $1,300 in cash donations
4. A formal presentation of a previously approved $10,000 grant from the facility
Volunteers gained valuable experience interacting with pantry clients and learning about the pantry's impact on the community. The effort showcased MPC's commitment to local community support and employee engagement in charitable activities.
Marathon Pipe Line (MPL), part of Marathon Petroleum's midstream segment MPLX, has installed two electric trash skimmers at its dock in Terminal 2 at the Port of Long Beach, California. These devices continuously collect debris from the water surface, gathering over 500 pounds of trash every two weeks. This initiative significantly improves upon MPL's previous annual volunteer cleanup efforts.
The skimmers operate 24/7, processing more than 300 gallons of water per minute. The Port of Long Beach has agreed to handle trash disposal at a reduced cost. This collaboration demonstrates Marathon Petroleum's commitment to environmental stewardship and biodiversity protection, complementing their existing support for International Bird Rescue in California.
Marathon Petroleum (MPC) has implemented proactive measures to protect biodiversity in areas where it operates. Through its Operational Excellence Management System (OEMS), MPC ensures activities do not negatively impact ecosystems. Specifically, Marathon Pipe Line, a subsidiary managing extensive pipeline right-of-ways, is enhancing these areas with native vegetation and pollinator-friendly plants, aiding at-risk species like the monarch butterfly. Key measures include adjusting construction schedules to avoid disrupting wildlife, mindful pesticide use, conservation mowing, and restoring disturbed areas with native seeds. MPC also conducts post-construction surveys to verify restoration and monitors sensitive sites. Employee and contractor training emphasize biodiversity considerations.
Marathon Petroleum employees have been recognized with the Patriot Award for their support of a service member. Lance Foos, an Ohio National Guard Brigade Plans Officer, managed to balance his military and civilian duties at Marathon Petroleum during challenging times, including deployment to Iraq in 2022.
His supervisors, Kathy Treece and Mike Langhals, demonstrated outstanding support, earning the Employer Support of the Guard and Reserve Patriot Award.
Foos expressed gratitude for the support shown to his family during his deployment and highlighted the company's commitment to employee well-being.
Notably, Marathon Petroleum offers various benefits to its employees, including competitive pay, health insurance, and vacation credits for active-duty service.
Junior Achievement (JA) of New Mexico has significantly expanded its outreach to Indigenous students, thanks to a $98,000 grant from Marathon Petroleum (MPC). This funding allowed JA to increase its Indigenous Student Outreach Program by 230%, reaching 1,491 students in the 2023-24 school year, up from 648 the previous year. The initiative aims to enhance financial literacy, career readiness, and entrepreneurship skills among Indigenous students.
The 'JA in a Day' event at Tres Volcanes Community Collaborative School (TVCCS) in Albuquerque highlighted this effort. MPC employees volunteered, providing lessons on financial concepts and career skills. JA President Erin Hagenow emphasized the program's growth and impact, thanks to MPC's support.
