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Marathon Petroleum Files For IPO

Marathon Petroleum Corp.’s pipeline unit MPLX LP filed with U.S. regulators to raise up to $365 million in an initial public offering (IPO), Reuters reported. The limited partnership, recently formed by the refiner to own, operate, develop and acquire pipelines and other midstream assets, plans to list its common units on the New York Stock

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Future Of Sunoco Gas Stations

Changes ahead for Sunoco with definitive merger agreement with Energy Transfer Partners Energy Transfer Partners, a Texas pipeline company, has received many calls about Sunoco’s gas stations since the merger was announced April 30, Martin Salinas Jr., the company’s chief financial officer, told analysts this May. Kelcy Warren, CEO of Energy Transfer Partners, bought Sunocoo

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Marathon Petroleum Corp. Receives Unsolicited Mini-Tender Offer

MPC urges shareholders to reject tender offer by TRC Capital Corp. Marathon Petroleum Corp. (MPC) has received notification of an unsolicited mini-tender offer by TRC Capital Corp. to purchase up to 2,000,000 shares (approximately 0.58%) of MPC’s outstanding common stock at a price of $41.50 per share. The offer price was 4.47% below the closing

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Marathon Petroleum Reports Strong Q3 Profits

As Marathon Petroleum cuts costs, fuel prices continue to climb, resulting in high Q3 profits. Marathon Petroleum Corp., which split from Marathon Oil Corp. earlier this year, reported soaring third quarter profits this week, according to Bloomberg Businessweek. Earnings totaled $1.13 billion, or $3.16 per share, for the three months ended Sept. 30, more than

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Marathon Petroleum Hungry For Acquisitions

Following its separation from Marathon Oil Corp., Marathon Petroleum is now preparing to grow its Speedway brand.  Marathon Petroleum Corp., which spun off from Marathon Oil Corp. last month, is searching for acquisitions and seeking assets that meld with its strategy of refining oil and distributing the fuels produced, Reuters reported. “We have an appetite

Marathon Selling Minnesota Downstream Assets

Marathon Oil Corp., an integrated energy company, has announced that its wholly owned subsidiary Marathon Petroleum Co. LP has closed the transaction with ACON Investments LLC and TPG Capital for the sale of most of Marathon’s Minnesota downstream assets. ACON and TPG formed Northern Tier Energy LLC (Northern Tier Energy) to operate the assets as

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