logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Marathon Oil Climbs Higher On Early Refinery Upgrades

By  +Follow July 30, 2013 12:20PM
Share:
Tickers Mentioned:

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. 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for MPC
Sleek Money
27 Nov 14 08:55:06
Marathon Petroleum Corp’s “Buy” Rating Reiterated at Deutsche Bank $MPC http://t.co/Kvk1LjiDTq
TickerChirp
27 Nov 14 01:32:05
Leading Tweets About $MPC (Marathon Petroleum Corp symbol MPC) on 11/27/2014 http://t.co/LEBolJ9pDm
Zillion InfoTech
26 Nov 14 20:25:56
RT @zettacap: @zettacap lowest rated energy companies $MPC $COG $HP $VLO $PSX 11/26/14 #bigdata #sp500 #fintech #energy #stocks
Jeff Ho
26 Nov 14 20:20:54
RT @zettacap: @zettacap lowest rated energy companies $MPC $COG $HP $VLO $PSX 11/26/14 #bigdata #sp500 #fintech #energy #stocks
Zettacap
26 Nov 14 20:18:53
@zettacap lowest rated energy companies $MPC $COG $HP $VLO $PSX 11/26/14 #bigdata #sp500 #fintech #energy #stocks
Joetta Lee
26 Nov 14 19:25:09
Is it breakout time on $MPC $MCHP $GD $RT #liquidity RATE_LIMIT_EXCEEDED
Kael Harter
26 Nov 14 17:43:23
$HSH It could be breaktout time on $MPC $CYN $GAIN #overvalued http://t.co/WJRKsdFIRh
Lettie Hatfield
26 Nov 14 16:02:10
Awesome #Stock #Research on $HCA $MPC $PAY $SSO View now http://t.co/pI0bz1qxBH
Henrietta Major
26 Nov 14 16:01:17
Looking for more info on $EA $MPC $UAL $QLYS #investing http://t.co/i7P2qA1iBT
Octavius Chandler
26 Nov 14 16:01:14
Looking for research on $MPC $GWR $FII $USD #equity http://t.co/MhLhcEkVD9
Sol Tillery
26 Nov 14 15:27:16
Latest Earnings info on $NNN $MPC $CCO $GOOG #StockMarket http://t.co/ztJKmEAHVb
Rae Stubbs
26 Nov 14 14:59:44
$JCI Should you buy $MPC $XLS $RAX Goto http://t.co/dfORxPTKyt
Saran Linton
26 Nov 14 14:50:20
Avoid mistakes like $MPC $AVB $ECL $NUAN I suggest http://t.co/s5NgtbR9Vg
Milagro Galloway
26 Nov 14 14:17:42
Do you need #Stock #Research on $MPC $ADP $MCO $CI Visit http://t.co/q2g4QWSbAS
Devon Dube
26 Nov 14 14:14:50
#Stock Watchlist. Dont be left behind $CSE $TFSL $MPC $YOD Must see http://t.co/kWYGPkGw0Z
Horacio Beebe
26 Nov 14 14:01:08
Insider Trading alerts on $ARIA $DST $MPC $YOD #financialnews http://t.co/s2XelmA7dW
Large Void Bot
26 Nov 14 14:00:27
Popular: $KMI, $QQQ, $AAPL, $RNA, $EIGI, $DSKY, $PNNT, $BDSI, $XNET, $MPC, $CIEN, $PMCS, $ENOC, $BAH, $AVP, $MWA, $LUV
Ali Tyree
26 Nov 14 13:57:50
Top #Stocks today. Find out why. $SBH $IRM $MPC $SSO View now http://t.co/fIRPMIZWDN
4-traders.com
26 Nov 14 13:50:04
MARATHON PETROLEUM : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agree... http://t.co/PH2bb28OGO $MPC
$Stocknewsalerts
26 Nov 14 13:47:54
$MPC ALERT: Marathon Petroleum Corporation SEC Filing From our Stock News Alerts App
NASDAQ
26 Nov 14 13:47:07
$MPC - Current Report Filing (8-k) http://t.co/Q17eyWEjXF
BV Basic Materials
26 Nov 14 13:46:04
$MPC Marathon Petroleum Corp files Form 8-K (Events or Changes Between Quarterly Reports) SEC Filing.. http://t.co/VqglAwe0Zc
Horacio Beebe
26 Nov 14 12:48:27
Are you thinking of Investing in $MPC $ADP $HCP $GAIN #equity http://t.co/g3WBg38Pv0
Farrah Ledoux
26 Nov 14 12:18:45
$NCLH Stocks to Watch this week $MPC $CVC $TSLA #Stock http://t.co/VygCWgRAXY
Sheba Li
26 Nov 14 12:04:38
$ORLY #Best #Pennystock research $MPC $LUV $IGN #NSE http://t.co/QxM4bp9tYj
Laurinda Bell
26 Nov 14 11:59:47
Get the latest on $GOOG $CPA $MPC $RAX View now http://t.co/mP3jY1DgY3
Charlotte Christman
26 Nov 14 11:46:54
Should you hold or add to $MPC $IHS $CTAS $IBM #financialnews http://t.co/6ImsOS3Hi2
MICHAEL FILLOON
26 Nov 14 11:17:55
Marathon Petroleum buy ratingreiterated at Deutsche Bank $114 PT http://t.co/otCeZuBrnd $MPC #MPC via @RatingsNetwork http://t.co/ucgCUgqgg3
Cinthia Batson
26 Nov 14 11:07:13
Find more winners like $SJM $GGP $MPC $USD #wealthmanagement http://t.co/XErSq5io0d
Rusty Clements
26 Nov 14 11:01:46
#Best #Pennystock research $PNR $P $MPC $NUAN #Research http://t.co/c2KUGxw0un
Juan Beyer
26 Nov 14 10:52:50
#Best #Pennystock research $MPC $GWR $FOXA $QLYS #financial http://t.co/rcjEJJmfcR
Marcelina Voss
26 Nov 14 10:46:24
Great #Stock Newsletter on $ARIA $HSH $MPC $S Check out http://t.co/vc3KigPvm4
Katheleen Ventura
26 Nov 14 10:05:10
Are you thinking of Investing in $IPGP $CME $MPC $FEYE #investing http://t.co/bKhGkIVcHo
Trinidad Franco
26 Nov 14 09:34:03
Keeping my Eye on $MPC $SD $MSG $RAX Goto http://t.co/AXUkn78ZGt
Carrie Nixon
26 Nov 14 09:25:47
Great #Stock Newsletter you must have $MPC $PNRA $EXR $DF #Research http://t.co/rME2dvtszb
Shena Fagan
26 Nov 14 09:18:32
Latest Earnings info on $EXP $MPC $BRKR $SLW Worth a look http://t.co/7qzOl93YdX
Anjelica Mccart
26 Nov 14 09:15:06
Great #Stock Newsletter you must have $MPC $BRKR $MSG $CSIQ #economy http://t.co/SGSk3M2ICZ
Audrey Machado
26 Nov 14 09:06:50
#Stock Market Reports you need on $MPC $AVB $INTC $YOD #money http://t.co/52lp0y4jQn
InterCooler
26 Nov 14 08:52:52
Marathon Petroleum Corp’s Buy Rating Reiterated at Deutsche Bank $MPC http://t.co/6h9ejYQGIN
Zackery Hardesty
26 Nov 14 08:49:58
Stocks I'm keeping my Eye on...should you? $AXS $MPC $MAR $GOOG #overvalued http://t.co/qFljm9CZFB
Katheleen Ventura
26 Nov 14 08:33:23
Shoud you sell or hold stocks like $IPGP $IP $MPC $AAPL Try this http://t.co/Ut61I020wE
Mauricio Benjamin
26 Nov 14 08:28:50
$JCI Are you hanging on to $MPC $ESS $CI View now http://t.co/aT35tP27pO
Arlen Larson
26 Nov 14 08:15:27
$IT Seeking the next stock like $MPC $ADP $DUST #equity http://t.co/cDxxsBOksa
Domenic Wooten
26 Nov 14 08:09:03
$MD #Stocks you might want to buy $MPC $ESS $GOOG Visit http://t.co/St5MF7Lz36
Lucky Jimmy
26 Nov 14 08:08:48
MPC Stock up +1.29% percent Today $MPC High is at 96.47 and the Low 95.07 with current volume of 264,623. Mara http://t.co/Fqre5Usojz
Lucky Jimmy
26 Nov 14 08:08:26
$MPC MPC up +1.29% percent Today $MPC Stock High is at 96.47 and the Low 95.07 with current volume of 264,623. Mara http://t.co/0qO6t6Tppk
Drema Deloach
26 Nov 14 07:08:08
$HTS Are you Investing in $MPC $SBNY $DF #equity http://t.co/N3OAGXg7KB
Chrissy Croteau
26 Nov 14 07:05:07
#Stock Market Reports on stocks like $MPC $DPS $MNST $SSO Give it a try http://t.co/JJELPBf9Oc
Dmitri Mercado
26 Nov 14 06:55:28
$FDO Earnings news on $MPC $AMAT $IBM Must see http://t.co/fHk9oN9k2L
Edris Levin
26 Nov 14 06:43:04
Awesome #Stock #Research $MPC $NVDA $CTAS $USD View now http://t.co/CreV1DHRK6
				
				
By  +Follow July 30, 2013 12:20PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.