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Marathon Oil Climbs Higher On Early Refinery Upgrades

By  +Follow July 30, 2013 12:20PM
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Shares for Marathon Petroleum Corporation (MPC) climbed higher on Monday’s late announcement that the company would be completing the final phase of a hydrocracker optimization project at its Louisiana refinery one full year ahead of schedule.

The Energy Information Administration defines hydrocracking as a process by which the heavy molecules in gas oil are broken down, or cracked, into distillate and gasoline using hydrogen. Hydrocracking turns low-quality heavy gas oil into high-quality jet fuel, diesel and gasoline.

Marathon, the third-largest oil and gas refiner in the US, will be taking advantage of an already-scheduled maintenance shut-down of its Garyville refinery in Louisiana to complete the renovation early. The upgrade will expand the capacity of its hydrocracker from 90,000 barrels per day to 110,000.

While a great deal of oil refiners have yet to invest heavily in hydrocracking, Marathon CFO Donald Templin explained the plan to upgrade its Garyville unit at a Raymond James conference in March as an investment the company very much wanted to get in on early. The Louisiana refinery can process up to 522,000 barrels a day, the vast majority of which comes from heavy and sour crude oils.

Furthermore, demand for distillates such as jet fuel, diesel, and even kerosene are on the rise in the US and throughout the world, particularly South America and Europe. The enlarged hydrocracker will also allow the company to up its production of platformate, a high-octane gasoline blending component, to 5,300 barrels per day.

The work is scheduled to be complete by January, with processing to resume by February at latest. The third largest US oil and gas refining company saw shares bump up over 1.6 percent to as high as $73.43 heading into midday trading. 

Results for MPC
JCPAfonso
19 Apr 14 08:16:41
Trade Ideas for Monday, April 21 $QCOM $ODP $MRO $MPC $FNSR $GLW $INTC $CSCO http://t.co/NYEmGQMdzs
Brick Brocky
19 Apr 14 06:18:18
#Stock Watchlist. Dont be left behind $MPC $SAI $TECD $GOOG #wealthmanagement http://t.co/Nw4sTMAiZq
Brice Latimer
19 Apr 14 05:47:09
Are you Bullish on these #stocks $MPC $OKE $SIRO $RT #financial http://t.co/1lUFXHS9U9
Emmanuel Gromer
18 Apr 14 23:54:04
$MPC TODD HALE: Remembering the wreck of the Twin Star Rocket http://t.co/REvr9dNUzQ
Emmanuel Gromer
18 Apr 14 23:48:04
$MPC Midlands marathoners resolute after tragedy in Boston: 'We're going to keep ... http://t.co/XutFlhv3iw
Emmanuel Gromer
18 Apr 14 22:09:34
$MPC Bexhill teacher runs Marathon http://t.co/juvn4DSZt2
Ansel Galvan
18 Apr 14 17:22:51
Are you looking to buy $SNPS $RLGY $MPC $SSO #wallstreet http://t.co/lhAYEpw206
Emmanuel Gromer
18 Apr 14 16:02:03
$MPC Career Coach, Eli Amdur: Reponses to 'Zen' article http://t.co/Ch1Ttzx66z
The Amazing Seven
18 Apr 14 16:00:36
#Stocks you might want to sell $AMT $OSK $MPC $GOOG #NSE http://t.co/81eu8oZixm
12Stocks.com
18 Apr 14 15:26:55
Weekly S&P500 #Stocks Trend $AGN $PXD $MU $TSO $SNDK $VLO $COG $WPX $FTR $NBL $COP $AA $MPC $MUR $CHK $BHI @ http://t.co/ppYlnKK6xM
Brice Latimer
18 Apr 14 15:15:09
$MOLX Are you looking for winners like $MPC $NFLX $LIVE #moneymanagement http://t.co/5mAnJP0WOJ
$Stocknewsalerts
18 Apr 14 13:06:38
$MPC New Marathon Petroleum Corporation Market Data Report
Ward Anders
18 Apr 14 10:54:40
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Derald Muniz
18 Apr 14 09:22:04
The Fab 5 update - 04/18/2014 http://t.co/zNTmq6Kmm5 $AGU $APH $HON $MPC $NEE $SNP $WDC $CLX $LYB $ALK $XLE $URI $SIAL
Braylin McQuillen
18 Apr 14 05:58:18
$MPC The Happiest Companies In America http://t.co/r3Rq78bq97
Brenden Black
18 Apr 14 05:20:36
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Mind Equity
18 Apr 14 03:42:47
Find more winners like $AFL $AXS $MPC $ABX #newsletter http://t.co/iE2L4ocnZQ
Binary Options Pro
18 Apr 14 03:27:17
RT @prefulfilloq: Are you Bullish on these #stocks $MHK $MPC $AMAT $RAX Must have http://t.co/MTaMBnUKcg
12Stocks.com
18 Apr 14 03:01:37
Weekly S&P500 #Stocks Trend $AGN $PXD $MU $TSO $SNDK $VLO $COG $WPX $FTR $NBL $COP $AA $MPC $MUR $CHK $BHI @ http://t.co/ppYlnKK6xM
Quinten Lennon
18 Apr 14 02:24:59
Are you Bullish on these #stocks $MHK $MPC $AMAT $RAX Must have http://t.co/MTaMBnUKcg
Emmanuel Gromer
18 Apr 14 01:54:08
$MPC TinCaps rally in 9th to win http://t.co/6o48fZ3qHP
Emmanuel Gromer
18 Apr 14 01:21:05
$MPC BC-AP Sports Digest http://t.co/k1lu4sVL5H
Emmanuel Gromer
18 Apr 14 00:08:04
$MPC Daily News honors local heroes http://t.co/hODk3s4GDA
Stock Herald
17 Apr 14 20:23:05
$MPC: The Happiest Companies In America http://t.co/BT6zmrCWCy
Quinten Lennon
17 Apr 14 20:11:07
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StockNews24
17 Apr 14 20:06:06
$MPC - The Happiest Companies In America -> http://t.co/qffQveT92V #stock #stocks #stockaction
Walden Gretzky
17 Apr 14 20:02:38
Are you looking for winners like $CHK $CLH $MPC $NUAN #liquidity http://t.co/sAeNbpyo9P
Basil Gall
17 Apr 14 19:30:06
Get more info on $EXC $STT $MPC $WTW #economy http://t.co/OmsBgt19Xs
Small Cap Updates
17 Apr 14 18:36:24
$MPC The Happiest Companies In America http://t.co/ZsFxni4p7Q
Robin Cage
17 Apr 14 16:33:43
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Franco Gall
17 Apr 14 15:47:50
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Yahaira Landry
17 Apr 14 13:02:52
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Major Brown
17 Apr 14 11:51:14
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Derald Muniz
17 Apr 14 10:24:38
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cneebo
17 Apr 14 09:50:17
RT @otcpicks: Marathon Petroleum $MPC Showing Bullish Technicals With Resistance At $90.55 ( http://t.co/6JbkG1Aedl )
Media Sentiment
17 Apr 14 08:51:11
$MPC received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 289
pennytrader
17 Apr 14 08:49:12
Marathon Petroleum $MPC Showing Bullish Technicals With Resistance At $90.55 ( http://t.co/vAiFNifqb0 )
OTCPicks
17 Apr 14 08:49:12
Marathon Petroleum $MPC Showing Bullish Technicals With Resistance At $90.55 ( http://t.co/6JbkG1Aedl )
Market Int Center
17 Apr 14 08:46:29
Marathon Petroleum $MPC Showing Bullish Technicals With Resistance At $90.55 ( http://t.co/xQ1cihe8S4 )
Emmanuel Gromer
17 Apr 14 07:37:37
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Investment Mogul
17 Apr 14 06:34:02
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Boston News
17 Apr 14 03:38:16
RT @EmmanuelGromer: $MPC Davidson College alum returns to Boston Marathon after trauma http://t.co/42mlpSrdZS
Emmanuel Gromer
17 Apr 14 03:29:05
$MPC Davidson College alum returns to Boston Marathon after trauma http://t.co/42mlpSrdZS
Emmanuel Gromer
17 Apr 14 03:04:35
$MPC Angola Is Moving Into Oil's Big Leagues As it Leaves Decades Of War Behind http://t.co/xLHriOeIWx
12Stocks.com
17 Apr 14 03:01:34
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12Stocks.com
17 Apr 14 03:01:33
Weekly S&P500 #Stocks Performance $AGN $EW $FTR $TSO $CHRW $PXD $TE $VLO $WIN $AEE $MUR $MPC $CHK $YHOO more@ http://t.co/RPeaHBIw7y
Emmanuel Gromer
17 Apr 14 01:51:35
$MPC Caza Oil & Gas Announces Another Strong Result on 2nd Bone Spring Well at ... http://t.co/HwgBkL17eB
Emmanuel Gromer
17 Apr 14 01:23:05
$MPC Biggest Movers in Energy Stocks Now – ALJ ECA WNR ROSE http://t.co/BD3qZREGdZ
Emmanuel Gromer
17 Apr 14 00:43:34
$MPC Angola Moves Into Oil's Big Leagues http://t.co/SAPOvWfs9v
Emmanuel Gromer
17 Apr 14 00:38:04
$MPC Caza Oil & Gas Announces Another Strong Result on 2nd Bone Spring Well at ... http://t.co/ahj4s53HLJ
				
				
By  +Follow July 30, 2013 12:20PM
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