Wall Street Transcript Interview with Pamela K.M. Beall, the President of MPLX LP (MPLX)

Wall Street Transcript

67 WALL STREET, New York - July 3, 2014 - The Wall Street Transcript has just published its Oil & Gas Review 2014 Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Oil & Gas Review 2014

Companies include: MPLX LP (MPLX) and many more.

In the following excerpt from the Oil & Gas Review 2014 Report, the President of MPLX LP (MPLX) discusses company strategy and the outlook for this vital industry:

TWST: Does Marathon Petroleum remain your largest or most significant customer?

Ms. Beall: Yes, and it probably will be for the foreseeable future. About 90% of the revenue is derived from MPC, and so naturally most of our business will revolve around the MPC operations. As you may know, Marathon Petroleum is the fourth-largest refiner in the United States today. It's the largest refiner in PADD 2, which includes the Mid-Continent part of the United States, and MPC's operations are situated very near some of the growing shale oil and gas developments where we see a lot of production growth. That will benefit MPC, and it will also create a need for midstream infrastructure investments to move production of oil and gas to consuming refineries, including Marathon Petroleum's refineries.

And then in addition to the shale growth, what's going on in Canada with the oil-sands production also creates opportunity for Marathon Petroleum. MPC completed work on a significant investment in its Detroit refinery in 2012 so it could process more heavy Canadian crude, and then MPLX has an operation in Wood River, Illinois, where MPC can move heavy Canadian crude down the Mississippi River to its refinery in Garyville, Louisiana.

So that's another opportunity for MPC and other refineries, to focus on how to get those new sources of crude and other feedstocks into the refineries to take advantage of the growth in North American sources and attractively priced crude oil. So a lot of work is being done where we can build new or modify existing pipelines or pipeline connections that will allow us to deliver attractively priced crude and feedstocks into those refineries.

TWST: The other 10% of the revenue being from third-party customers, are there plans to grow that? What are you anticipating in the future in that respect?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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