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MPC’s Refining Earnings Outlook for Q2 2018

Michelle Rey
MPC’s Refining Earnings Outlook for Q2 2018

In Q1 2018, Marathon Petroleum’s (MPC) refining segment’s operating loss expanded to $133 million from $70 million due to the dropdown of assets to MPLX (MPLX), MPC’s MLP. Also, MPC’s gross refining and marketing margin contracted YoY (year-over-year) by $1.10 to $10.60 per barrel, primarily due to a narrower blended LLS (Louisiana Light Sweet) 6-3-2-1 crack.