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 reports news as an integrated downstream and midstream energy company with the nation's largest refining system, a U.S. marketing network that includes Marathon-branded retail outlets, and a majority ownership interest in MPLX LP.
Recurring updates cover Refining & Marketing results, Midstream performance, Renewable Diesel operations, refinery turnarounds and capital projects such as jet fuel and FCC upgrades. Company announcements also address quarterly dividends, share repurchase authorizations, capital returns, annual meeting timing, and MPLX gathering, processing, fractionation, transportation and logistics activity.
Marathon Petroleum Corp. (NYSE: MPC) announced a $21 billion cash agreement with 7-Eleven, Inc. for the acquisition of Speedway. This transaction, expected to close in Q1 2021, reflects MPC's strategic priorities and the value of the Speedway business. The deal will yield approximately $16.5 billion in after-tax cash proceeds, which will be used to reduce debt and return capital to shareholders. Additionally, a 15-year fuel supply agreement will support long-term value through enhanced commercial performance.
Marathon Petroleum Corp. (NYSE: MPC) has declared a quarterly dividend of $0.58 per share on common stock. This dividend will be payable on Sept. 10, 2020, to shareholders of record as of the close of business on Aug. 19, 2020. Marathon Petroleum, based in Findlay, Ohio, operates the largest refining system in the U.S., with over 3 million barrels per day of crude oil capacity across 16 refineries. The company also features a vast marketing system and owns significant interests in MPLX LP, enhancing its operational footprint in the energy sector.
Marathon Petroleum Corp. (NYSE: MPC) has appointed Ehren D. Powell as Senior Vice President and Chief Digital Officer, effective July 20, 2020. Powell, formerly of GE Healthcare, will oversee the company's technology strategy and digital assets. His extensive experience in improving operational performance and driving cost efficiencies is expected to enhance Marathon's capabilities. MPC operates the largest U.S. refining system, with a capacity of over 3 million barrels per day across 16 refineries, and owns Speedway convenience stores and a majority stake in MPLX LP.