Marathon Petroleum: 4Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Thursday reported fourth-quarter profit of $951 million.
On a per-share basis, the Findlay, Ohio-based company said it had profit of $1.35. Earnings, adjusted for non-recurring costs, were $2.41 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The refiner posted revenue of $32.54 billion in the period.
General Motors, Newell and Twitter jump; Campbell Soup dips
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
General Motors Co., up $1.72 to $37.65
The automaker said it will lay off up to 14,000 factory and white-collar workers and could close five plants.
Newell Brands Inc., up $1.78 to $23.52
The consumer products company named former Revlon and Procter & Gamble executive Chris Peterson as its new chief financial officer.
Marathon Petroleum acquires outstanding shares of Andeavor
KENAI, Alaska (AP) — Marathon Petroleum Corp. says it has finished acquiring all outstanding shares of Andeavor, the company formerly known as Tesoro.
Kenai radio station KSRM reports Marathon and Andeavor in April entered into a $23.3 billion merger agreement.
Andeavor operates refineries in California, Minnesota, New Mexico, North Dakota, Texas, Utah, Washington and Alaska.
Marathon Petroleum: 3Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Thursday reported third-quarter net income of $737 million.
On a per-share basis, the Findlay, Ohio-based company said it had profit of $1.62. Earnings, adjusted for non-recurring costs, were $1.70 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The refiner posted revenue of $23.13 billion in the period.
Marathon Petroleum: 2Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Thursday reported second-quarter profit of $1.06 billion.
On a per-share basis, the Findlay, Ohio-based company said it had net income of $2.27.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The refiner posted revenue of $22.45 billion in the period.
BISMARCK, N.D. (AP) — Oil refineries in Mandan and Dickinson will be changing owners when Marathon Petroleum Corp. merges with Andeavor.
Andeavor was recently known as Tesoro. It employs 300 people at its two North Dakota refineries.
Marathon Petroleum is buying Andeavor for more than $23 billion, a transaction that would make the combined company the largest U.S. refiner. The combined company will have headquarters in Ohio and will be called Marathon Petroleum.
Marathon to pay $335K for 2016 diesel spill
SOLITUDE, Ind. (AP) — Marathon Petroleum Corp. has agreed to pay $335,000 for a 2016 spill where nearly 36,000 gallons of diesel fuel leaked into the Wabash River near the Indiana-Illinois border.
Diesel fuel spills from pipeline in southwestern Indiana
SOLITUDE, Ind. (AP) — Authorities have contained a diesel spill in a southwestern Indiana creek and will try to recover the fuel.
On-scene coordinator Kevin Turner of the U.S. Environmental Protection Agency said he believes about 42,000 gallons of fuel spilled into Big Creek in Posey County before the leak from a Marathon Petroleum Corp. pipeline was detected Tuesday evening. The pipeline was immediately shut off.
Appeals court vacates decision in abandoned property suit
DOVER, Del. (AP) — A federal appeals court has breathed new life into a lawsuit by one of several companies that have challenged Delaware's abandoned property seizures.
The court on Monday vacated a judge's dismissal of a lawsuit filed by Ohio-based Marathon Petroleum Corp.
20K cases dismissed over refinery emissions release in Texas
GALVESTON, Texas (AP) — A judge has dismissed about 20,000 cases filed against BP by people who alleged they got sick after a 2010 emissions release from its Texas City refinery.
Worker, 22, from Houston killed in port scaffold collapse
TEXAS CITY, Texas (AP) — Officials say a contract worker for Marathon Petroleum Corp. died after scaffolding collapsed at the Port of Texas City and he fell into the water.
The Galveston County Daily News (http://bit.ly/2cV1Q5v ) reports 22-year-old Louis A. Gonzales-Bock of Houston was employed by Louisiana-based Excel Modular Scaffold.
DES MOINES, Iowa (AP) — Companies building an oil pipeline from North Dakota across the Midwest into Texas say they've completed project financing and sold a share of the pipeline to another company to pay down the debt.
Energy Transfer Partners, Sunoco Logistics Partners and Phillips 66 said Tuesday they completed borrowing the remaining $2.5 billion needed to complete the Bakken Pipeline project.
The project includes the $3.7 billion Dakota Access Pipeline to...
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