08FEB2019 - NEWS - Marathon Petroleum Corporation posted rise in number of barrels of crude processed per day during fourth quarter

Marathon Petroleum Corporation posted a 56 percent jump in the number of barrels of crude it processed per day during the fourth quarter and the refiner’s margins rose, helped by access to cheap oil from Canada and its purchase of rival Andeavor. At its refineries in the U.S. Midwest, Marathon has been processing large amounts of Canadian crude, which has turned cheaper relative to the benchmark West Texas Intermediate because of transport bottlenecks and a storage glut in Canada. Refiners such as Marathon process crude into diesel, gasoline and other products. Some of them faced here challenges after the United States imposed sweeping sanctions on Venezuela's state oil company PDVSA.

Published by Editor - www.Livebunkers.com at 08-Feb-2019 06:50:40 [UTC] , contact editor at editor@livebunkers.com