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Marathon Petroleum Corp

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  • NEW YORK, March 31- Last year's spike in the price of ethanol blending credits cost independent refiners at least $1.35 billion, more than three times as much as the year before, according to a Reuters' review of securities filings.

  • *Coast Guard says will re-open channel' as soon as we can'. TEXAS CITY, Texas March 24- The closure of the vital Houston Ship Channel looked set to extend to a fourth day after the Coast Guard struggled to finish cleaning up after an oil barge spill on Monday, threatening to force deeper production cuts at local refiners.

  • *Coast Guard says will re-open channel' as soon as we can'. "We will begin the process of a tapered... not a floodgate resumption of marine traffic," Captain Brian Penoyer, commander of U.S. Coast Guard sector Houston- Galveston and captain of the Port of Houston, told reporters on Monday.

  • A Coast Guard spokesman declined to discuss the timeline. The closure of the channel on Saturday has led to a queue of more than 80 vessels trying to move into or out of the Gulf of Mexico, with shipping delays forcing Exxon Mobil Corp to cut production at its largest refinery.

  • HOUSTON, March 24- Exxon Mobil Corp cut production at its largest refinery on Monday as the U.S. Coast Guard was preparing for a possible re-opening of the Houston Ship Channel by late afternoon to return the supply of crude oil for more than one-tenth of the nation's refining capacity.

  • As of 7 a.m. CST, the channels to Houston and Texas City, Galveston and the Intracoastal Waterway remained shut near the entrance to Galveston Bay, where heavy fuel oil washed ashore and out into the Gulf of Mexico.

  • March 17- The U.S. Department of Energy on Monday released results from its bid to sell 5 million barrels of oil from the nation's Strategic Petroleum Reserve.

  • Obama made the announcement in Upper Marlboro, Maryland, about 20 miles from Washington, at a distribution center for Safeway grocery stores, next to a trucking rig that had been redesigned to increase fuel economy.

  • HOUSTON, Jan 29- Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices and rising exports helped profits.

  • HOUSTON, Jan 29- Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices on the Gulf Coast helped profits.

  • Jan 29- Marathon Petroleum Corp, the third-largest stand-alone U.S. refining company, on Wednesday posted a quarterly profit that topped estimates as refining margins were better than expected. For the fourth quarter, Marathon reported net income of $626 million, or $2.07 per share, compared with $755 million, or $2.24 per share, in the year-ago period.

  • Jan 29- Marathon Petroleum Corp, the third-largest stand-alone U.S. refining company, posted a 17 percent drop in quarterly profit on Wednesday due to shrinking crude discounts and rising maintenance costs.

  • Midwest to the Gulf Coast, traders are on high alert for a flood of crude they expect to drown local prices. Since late last year, analysts and traders have warned that the Gulf Coast will choke with so much oil that it may become the next Cushing- a storage and pricing hub so bloated that it depresses U.S. oil prices.

  • NEW YORK, Jan 9- Independent U.S. refiner PBF Energy has begun talks with a half-dozen of its rivals to consider jointly lobbying Washington against lifting a decades-old ban on U.S. crude oil exports.

  • NEW YORK, Jan 8- Independent U.S. refiner PBF Energy has begun talks with a half-dozen of its rivals to consider jointly lobbying Washington against lifting a decades-old ban on U.S. crude oil exports, sources said on Wednesday.

  • *Libya's El Sharara field to reach full production by Wednesday. Brent crude for February delivery was 8 cents higher at $107.43 per barrel at 0525 GMT, after settling up 62 cents on Tuesday.

  • *Libya's El Sharara field to reach full production by Wednesday. Brent crude for February delivery was 13 cents higher at $107.48 per barrel at 0351 GMT, after settling up 62 cents on Tuesday.

  • SINGAPORE, Jan 8- U.S. oil futures rose for the second day in early Asian trading, supported by frigid weather in North America that is hurting some refinery operations and new worries over Libyan supplies, although a stronger dollar is likely to cap gains.

  • *Libya armed forces warn oil tankers away from seized ports. NEW YORK, Jan 7- Oil rose on Tuesday as frigid weather in North America hurt some refinery operations and worries grew over Libyan output and fighting in Iraq. "The refineries shutting down is the story of the day," said Joseph Posillico, senior vice president at Jefferies Bache in New York.

  • *Libya armed forces warn oil tankers away from seized ports. NEW YORK, Jan 7- Oil rose on Tuesday as frigid weather in North America hurt some refinery operations and as new worries arose over Libyan output and fighting in Iraq.

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