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2014 Press Releases

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Q3 2014 Marathon Petroleum Corporation Earnings Conference Call (Live)
10/30/14 at 10:00 a.m. ET
Q3 2014 Marathon Petroleum Corporation Earnings Conference Call
Thursday, October 30, 2014 10:00 a.m. ET  
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10/01/14Purchase of Hess' Retail Operations and Related Assets Closes
FINDLAY, Ohio, Oct. 1, 2014 - Marathon Petroleum Corp. (NYSE: MPC) announced that on Sept. 30, 2014, its subsidiary, Speedway LLC, closed its acquisition of Hess' retail operations and related assets. The $2.82 billion transaction includes a $2.37 billion base purchase price, capital leases that were cash settled at closing for $263 million, and $194 million of estimated working capital, subject to post-closing adjustments. The transaction was announced May 22, 2014, and includes all of Hess' re... 
 
09/30/14Marathon Petroleum Corporation to Announce 2014 Third-Quarter Financial Results October 30
FINDLAY, Ohio, Sept. 30, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it will host a conference call on Thursday, Oct. 30, at 10 a.m. EDT to discuss 2014 third-quarter financial results, which will be released earlier that day, and to provide an update on company operations. MPC participants will be Gary Heminger, president and chief executive officer; Don Templin, senior vice president and chief financial officer; and Mike Palmer, senior vice president of Supply, Dist... 
 
09/02/14Marathon Petroleum Corporation Announces Proposed Offering of Senior Notes
FINDLAY, Ohio, Sept. 2, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it has commenced a public offering of senior notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). The offering and the actual terms of the senior notes, including principal amount, interest rate and maturity, will depend on market and other conditions. Together with borrowings under the recently announced $700 million term loan,... 
 
09/02/14Marathon Petroleum Corporation Prices $1.95 Billion Senior Notes Offering
Marathon Petroleum Corporation Prices $1.95 Billion Senior Notes Offering FINDLAY, Ohio, Sept. 2, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it has priced $1.95 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of three series of senior notes: $750 million aggregate principal amount of 3.625 percent senior notes due 2024 $800 million aggregate principal amount of 4.75 percent senior notes due 2044 $400 m... 
 
08/26/14Marathon Petroleum Corporation Enters into $700 Million Five-Year Term Loan Agreement
FINDLAY, Ohio, Aug. 26, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it has entered into a five-year senior unsecured term loan agreement with a syndicate of lenders providing commitments for $700 million in term loan borrowings. The term loan proceeds will be used to fund a portion of the purchase consideration for Speedway's acquisition of Hess Retail Holdings LLC, expected to close later this year. Borrowings under the term loan agreement are subject to customary con... 
 
08/25/14Marathon Petroleum Corporation to Present at Barclays CEO Energy/Power Conference
FINDLAY, Ohio, Aug. 25, 2014 - On Tuesday, Sept. 2, Marathon Petroleum Corporation's (NYSE: MPC) President and Chief Executive Officer Gary R. Heminger will deliver a presentation to investors and industry analysts at the Barclays CEO Energy/Power Conference. Heminger's presentation is scheduled to begin at 11:45 a.m. EDT. The live webcast and archived presentation can be viewed on Marathon Petroleum's investor relations website, http://ir.marathonpetroleum.com. The archived webcast and presenta... 
 
07/31/14Marathon Petroleum Corporation Reports Second-Quarter 2014 Results
Reported second-quarter earnings of $855 million ($2.95 per diluted share) Increased dividend 19 percent, to $0.50 per share Executed $459 million of share repurchases during second quarter and increased share repurchase authorization by $2 billion Exercised option to acquire 35 percent interest in Southern Access Extension pipeline project FINDLAY, Ohio, July 31, 2014 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2014 second-quarter earnings of $855 million, or $2.95 per ... 
 
07/30/14Marathon Petroleum Corporation Announces Additional $2 Billion Share Repurchase Authorization
FINDLAY, Ohio, July 30, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors approved an additional $2 billion share repurchase authorization through July 2016. This authorization is in addition to the previous authorization, which had $709 million remaining as of June 30, 2014. MPC may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market... 
 
07/30/14Marathon Petroleum Corporation Increases Dividend
FINDLAY, Ohio, July 30, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.50 per share on common stock, a 19 percent increase in its quarterly dividend. The dividend is payable on Sept. 10, 2014, to shareholders of record as of the close of business Aug. 20, 2014. "This is the fourth increase in MPC's dividend and represents a 32 percent compound annual growth rate from the dividend established at the time MPC became a s... 
 
06/30/14Marathon Petroleum Corporation to Announce 2014 Second-Quarter Financial Results July 31
FINDLAY, Ohio, June 30, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it will host a conference call on Thursday, July 31, at 10 a.m. EDT to discuss 2014 second-quarter financial results, which will be released earlier that day, and to provide an update on company operations. MPC participants will be Gary Heminger, president and chief executive officer; Don Templin, senior vice president and chief financial officer; and Mike Palmer, senior vice president of Supply, Dist... 
 
05/30/14Marathon Petroleum Provides Update Concerning Weather Impact on Garyville Refinery Operations
FINDLAY, Ohio, May 30, 2014 -Marathon Petroleum Corporation's (NYSE: MPC) Garyville refinery was impacted by a tornado that occurred on May 28. As a result of this severe weather, the refinery experienced damage to a cooling water system that serves part of the refinery causing the No. 1 crude unit and other units to be taken off-line. Based on MPC's initial assessment of the damage and necessary repairs, the crude unit is anticipated to be operational by mid-June. The company does not expect t... 
 
05/28/14Marathon Petroleum Corporation Announces Retirement of Vice President and Controller Michael G. Braddock and Appointment of John J. Quaid as Vice President and Controller
FINDLAY, Ohio, May 28, 2014 - Michael G. Braddock, vice president and controller of Marathon Petroleum Corporation (NYSE: MPC), has announced his intention to retire effective Oct. 1, 2014. Until his retirement, Mr. Braddock will continue as vice president and chief accounting officer of both MPC and MPLX LP. In conjunction with Mr. Braddock's pending retirement, MPC announced the appointment of John J. Quaid to the position of vice president and controller, effective June 23, 2014. "Durin... 
 
05/22/14Speedway to Acquire Hess Retail
Accelerates MPC's strategy to grow higher-valued, stable cash flow retail business Positions Speedway as one of the largest company-owned and -operated convenience store chains in the U.S. Creates substantial commercial and operational synergies and marketing enhancements Leverages integrated refining and transportation logistics operations Provides outlet for incremental 200,000 barrels per day of refined products FINDLAY, Ohio, May 22, 2014 - Marathon Petroleum Corporation (NYSE: M... 
 
05/01/14Marathon Petroleum Corporation Reports First-Quarter 2014 Results
Reported first-quarter earnings of $199 million ($0.67 per diluted share) Completed refining turnarounds totaling approximately $470 million Acquired biodiesel production facility on April 1 Acquired additional 7 percent interest in Explorer Pipeline Returned $812 million of capital to shareholders FINDLAY, Ohio, May 1, 2014 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2014 first-quarter earnings of $199 million, or $0.67 per diluted share, compared with $725 million, or $2.17 p... 
 
04/30/14Marathon Petroleum Corporation Announces Dividend
FINDLAY, Ohio, April 30, 2014 - Marathon Petroleum Corporation (NYSE: MPC) today announced its board of directors declared a dividend of $0.42 per share on common stock. The dividend is payable June 10, 2014, to shareholders of record as of the close of business May 21, 2014. On May 1, MPC will provide an update on its 2014 first-quarter results through an earnings news release, to be followed by a conference call scheduled for 10 a.m. EDT that day. Interested investors can listen to the confer... 
 
04/01/14Marathon Petroleum Corporation to Announce 2014 First-Quarter Financial Results May 1
FINDLAY, Ohio, April 1, 2014 - Marathon Petroleum Corporation (NYSE: MPC) will host a conference call on Thursday, May 1, at 10 a.m. EDT to discuss 2014 first-quarter financial results, which will be released earlier that day, and to provide an update on company operations.MPC participants will be Gary Heminger, president and chief executive officer; Don Templin, senior vice president and chief financial officer; and Mike Palmer, senior vice president of Supply, Distribution and Planning. The ca... 
 
02/04/14Marathon Petroleum Corporation to Present at Credit Suisse Energy Summit
FINDLAY, Ohio, Feb. 4, 2014 - On Tuesday, Feb. 11, Marathon Petroleum Corporation's (NYSE: MPC) President and CEO Gary R. Heminger will deliver a presentation to investors and industry analysts at the Credit Suisse 2014 Energy Summit in Vail, Colo. Heminger's presentation is scheduled to begin at 12:00 p.m. MST (2:00 p.m. EST). The live webcast and archived presentation can be viewed on Marathon Petroleum's Investor Relations website, http://ir.marathonpetroleum.com. The archived webcast and pr... 
 
02/03/14Marathon Petroleum Corporation Announces Purchase of Biodiesel Facility from Felda Iffco
FINDLAY, Ohio, Feb. 3, 2014 - Marathon Petroleum Corporation (NYSE: MPC) today announced that it has signed an agreement to purchase a facility in Cincinnati, Ohio from Felda Iffco Sdn Bhd, Malaysia. The plant currently produces several products including biodiesel and glycerin. The capacity of the plant is 4,100 barrels per day. The transaction is expected to close in April 2014. The details of the transaction are not being disclosed. "MPC has been a producer and large blender of ethanol ... 
 
02/03/14Marathon Petroleum Corporation Announces 2014 Annual Meeting of Shareholders
FINDLAY, Ohio, Feb. 3, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its 2014 annual meeting of shareholders will be held at the company's headquarters in Findlay, Ohio, on April 30, 2014 at 10 a.m. EDT. In addition, the company announced that March 3, 2014, has been fixed as the record date for determination of the shareholders of the company entitled to notice of, and to vote at, the annual meeting. About Marathon Petroleum Corporation MPC is the nation's fourth-la... 
 
01/29/14Marathon Petroleum Corporation Reports Fourth-Quarter and Full-Year 2013 Results
  Fourth-quarter adjusted earnings of $633 million ($2.10 per diluted share); full-year adjusted earnings of $2.17 billion ($6.84 per diluted share)  Midstream equity investments in Sandpiper and Southern Access Extension pipelines announced  Record annual Speedway financial performance; expanded marketing footprint  $578 million of capital returned to shareholders in fourth quarter; $3.28 billion returned during 2013  FINDLAY, Ohio, Jan. 29, 2014 - Marath... 
 
01/27/14Marathon Petroleum Corporation Announces Dividend
FINDLAY, Ohio, Jan. 27, 2014 - Marathon Petroleum Corporation (NYSE: MPC) today announced its board of directors declared a dividend of $0.42 per share on common stock. The dividend is payable March 10, 2014, to shareholders of record as of the close of business Feb. 19, 2014. On Jan. 29, MPC will provide an update on its 2013 fourth-quarter and full-year results through an earnings news release, to be followed by a conference call scheduled for 10 a.m. EST that day. Interested investors can li... 
 
01/02/14Marathon Petroleum Corporation to Announce 2013 Fourth-Quarter and Full-Year Financial Results Jan. 29
FINDLAY, Ohio, Jan. 2, 2014 - Marathon Petroleum Corporation (NYSE: MPC) announced today that it will host a conference call on Wednesday, Jan. 29, at 10 a.m. EST to provide an update on company operations and to discuss 2013 fourth-quarter and year-end financial results, which will be released earlier that day. MPC participants will be Gary Heminger, president and chief executive officer; Don Templin, senior vice president and chief financial officer; and Mike Palmer, senior vice president of ... 
 

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