Marathon Petroleum: Quarterly Profit More than Quadrupled Thanks to High Refinery Margins
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The energy company Marathon Petroleum refines crude oil and converts it into fuels such as gasoline and diesel. Additionally, the corporation operates an extensive logistics network for marketing the end products. The quarterly profit was more than quadrupled to USD 5.1 billion, as the refinery margin more than doubled to USD 36.33 per barrel. The refineries are operating at 94% capacity, while new projects are expanding the production of higher-quality fuels. The stock of Marathon Petroleum Corp. (MPC) is in a multi-year uptrend and has...
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