MPLX LP reports recurring developments as a master limited partnership that owns and operates midstream energy infrastructure, logistics assets, and energy products distribution services. Its updates cover crude oil and refined products pipelines, inland marine operations, light-product terminals, storage caverns, refinery-connected tanks, docks, loading racks, and crude and light-product marine terminals.
Company news also tracks natural gas and NGL gathering, processing, fractionation, and pipeline activity in U.S. supply basins, including project updates tied to Permian sour gas treating and Marcellus processing capacity. Other recurring items include quarterly financial results, common-unit cash distributions, capital-return activity, annual K-1 tax package availability, and Form 10-K filing notices.
Marathon Petroleum Corp. reported a substantial second-quarter 2021 net income of $8.5 billion ($13.00 per diluted share), a significant increase from $9 million ($0.01 per diluted share) in Q2 2020. Adjusted income was $437 million ($0.67 per diluted share), up from an adjusted net loss of $868 million in the same period last year. The company closed the $21 billion Speedway sale and committed $10 billion for share repurchases. Ongoing renewable projects are progressing, with a focus on sustainability. The firm achieved $2.2 billion in adjusted EBITDA, a significant increase from $653 million in Q2 2020.
The MPLX LP board declared a quarterly cash distribution of $0.6875 per common unit for Q2 2021, equating to an annualized $2.75. This distribution is scheduled for payment on August 13, 2021, to unitholders of record by August 6, 2021. Notably, distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate. MPLX is a large-cap master limited partnership focused on midstream energy infrastructure, including crude oil and refined product pipelines, among other assets.
MPLX LP (NYSE: MPLX), a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call on August 4, 2021, at 9:30 a.m. EDT to discuss its 2021 second-quarter financial results. Interested parties can access the call via MPLX's website. A replay of the conference will be available for two weeks post-event. MPLX operates midstream energy infrastructure and logistics assets, including a network of pipelines and storage facilities across the U.S.
MPLX reported a net income of $739 million for Q1 2021, a significant recovery from a $2.7 billion loss in Q1 2020, attributed to previous non-cash impairment charges. The adjusted EBITDA was $1.4 billion, up from $1.3 billion year-over-year. The Logistics and Storage segment maintained stable income at $723 million, while the Gathering and Processing segment rebounded to $251 million from a loss of $3.2 billion a year earlier. MPLX generated $1.1 billion in net cash from operations and returned over $900 million to unitholders through distributions and unit repurchases.
The board of MPLX LP declared a quarterly cash distribution of $0.6875 per common unit for Q1 2021, equating to $2.75 annually. This distribution is set for payment on May 14, 2021, to unitholders of record by May 7, 2021. The release also informs that distributions to foreign investors will be subject to federal income tax withholding at the highest effective rate, as stipulated under Treasury Regulation Section 1.1446-4(b). MPLX is a master limited partnership involved in midstream energy infrastructure and distribution services.
MPLX LP (NYSE: MPLX) has announced the availability of its 2020 investor tax packages on its website as of March 22, 2021. Investors can access these packages through the Tax Reporting Package link under the Investors tab or directly via a provided link. Physical mailings of the tax packages will begin on March 24, 2021. For any inquiries regarding the Tax Reporting Package for the year ending December 31, 2020, investors are encouraged to contact MPLX at 800-232-0011 (toll free).
MPLX LP (NYSE: MPLX), a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call on May 4, 2021, at 9:30 a.m. EDT to discuss its 2021 first-quarter financial results and provide updates on company operations. The financial results will be released earlier that day. Interested participants can access the call via MPLX's website, where a replay will also be available for two weeks. MPLX operates an extensive network of midstream energy infrastructure, including pipelines and terminal facilities.
MPLX LP (NYSE: MPLX) filed its Annual Report on Form 10-K for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission. Investors can view the filing on the MPLX website under 'SEC Filings.' This diversified master limited partnership specializes in midstream energy infrastructure, owning assets such as pipelines, terminals, and processing facilities, essential for fuel distribution and energy logistics. Unitholders can request a hard copy of the report free of charge by contacting MPLX's Investor Relations.
MPLX reported a fourth quarter net income of $691 million for 2020, a recovery from a net loss of $581 million in Q4 2019, and a full-year net loss of $720 million, impacted by $3.4 billion in non-cash impairment charges. Adjusted EBITDA was $1.4 billion in Q4 and $5.2 billion for the year. The company generated $4.5 billion in net cash from operations, leading to over $3 billion returned to unitholders. MPLX aims for capital expenditures of $800 million in 2021, focusing on high-return projects. The distribution per common unit remains at $0.6875.
The board of MPLX LP has declared a quarterly cash distribution of $0.6875 per common unit for Q4 2020, amounting to $2.75 annually. The payment date is set for February 12, 2021, with record holders as of February 8, 2021. This announcement serves as a qualified notice under Treasury Regulation Section 1.1446-4(b); foreign investors' distributions will be subject to federal income tax at the highest rate. MPLX operates midstream energy infrastructure, including pipelines and processing facilities across key U.S. supply basins.