|May 16, 2013|
|07:37 EDT||MPC, TSO, DK, WNR, PBF, ALJ, VLO||Morgan Stanley to host a conference|
Refining Corporate Access Day is being held in New York on May 16.
News For ALJ;DK;MPC;PBF;TSO;VLO;WNR From The Last 14 Days
Check below for free stories on ALJ;DK;MPC;PBF;TSO;VLO;WNR the last two weeks.
|December 4, 2013|
|10:02 EDT||MPC||Marathon Petroleum to invest $2.4B in Pipeline Transportation during FY14-FY16|
MPC CFO Don Templin emphasized the company's balanced approach to business investment and capital returns, and provided investors with a look at the company's 2014-2016 capital investment profile. Templin noted that over the next three years, MPC expects to invest $640M in midstream assets that are a part of its Refining & Marketing segment; $2.4B in Pipeline Transportation, including MPLX; and $925M on growing the Speedway convenience store segment. This represents a $2.4B increase compared with the amount spent on these segments during the previous three-year period. Templin also pointed out that MPC intends to return 100% of its through-cycle free cash flow to shareholders via dividends and share repurchases. "Our sharp focus on shareholder returns since becoming a publicly traded company in July 2011 has resulted in cumulative capital returns of $4.6B through Q3"
|December 2, 2013|
|13:45 EDT||VLO||Valero Energy, Venezuela PDVSA in talks to restart 5 units, Reuters says |
Valero Energy and Venezuela's state-run oil company, PDVSA, are evaluating the restart of 5 units at the 235K barrel per day Aruba refinery, which was closed last year due to high expenses, according to Reuters, citing three sources familiar with the situation. Reference Link
|10:00 EDT||MPC||On The Fly: Analyst Upgrade Summary|
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|07:53 EDT||MPC||Marathon Petroleum upgraded to Buy from Hold at Deutsche Bank|
Price target raised to $108 from $80.
|06:43 EDT||MPC||Marathon Petroleum upgraded to Buy from Hold at Deutsche Bank|
|November 26, 2013|
|15:45 EDT||MPC||Marathon Petroleum to host analyst and investor day|
Analyst and Investor Day to be held in New York on December 4 at 8:30 am. Webcast Link
|November 25, 2013|
|16:41 EDT||MPC||Marathon Petroleum commits to Sandpiper Project |
Marathon Petroleum (MPC) and Enbridge Energy Partners (ENB) announced that MPC will serve as an anchor shipper for the Sandpiper Project. MPC will fund 37.5% of the construction of the Sandpiper Project, which will become part of Enbridge Energy Partners' North Dakota System when it is completed. Sandpiper is targeted to be operational in early 2016. In exchange for MPC's commitment to participate in the open season for Sandpiper and its investment in this project, MPC will earn an approximate 27 percent interest in Enbridge Energy Partners' North Dakota System when Sandpiper is placed into service. MPC will also have the option to increase its ownership interest to 30 percent through additional investments in future system improvements. It will expand and extend the Bakken takeaway capacity of the North Dakota System by 225,000 bpd to a total of 580,000 bpd. The Sandpiper pipeline is currently estimated to cost approximately $2.6B.
|16:32 EDT||MPC||Enbridge's $2B Sandpiper Project secures anchor shipper |
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