Marathon Petroleum The Projected value and The Intensity of the Refinement are Strong

Marathon Petroleum The Projected value and The Intensity of the Refinement are Strong

(Reuters) – US refiner Marathon Petroleum (NYSE: MPC) on Tuesday posted the first-minute gains on Wall Street plans to benefit from strong refining, as demand for refined oil and refineries nears the end of a pandemic. move between solid components.
Shares of the company rose 3.8% to $ 92.48.

Global oil demand has receded, while Russia’s western blockade of Ukraine has shut down oil production worldwide.
“Year after year, the system in demand is, in many respects, positive in the market as it has reached stability after COVID-COVID,” Chief Executive Officer Michael Hennigan said in a statement.
The company expects the U.S. clean-up system to run at a high rate of deployment in the coming region to meet growing demand.
Overall, the stock, represented by demand, stood at 19.8 million barrels per day (bpd) in the fourth week of April, near the pre-season low, according to US Energy Information Management data

Marathon said its stock and market capitalization rose nearly 51% to $ 15.31 per barrel in the 15th quarter ended March 31st.
Crude consumption was 91%, bringing in total 2.8 million bpd, compared to 83% of total 2.6 million bpd a year ago.
For the current quarter, it expects an input of 2.9 million bpd.
Profit and net profit from operating operations stood at $ 768 million, compared to a loss of $ 598 million last year.
A Findlay, Ohio analyst said net worth was $ 845 million, or $ 1.49 per share, for the reported quarter, compared to a loss of $ 242 million, or 37 cents per share, a year ago.

Analysts expect a value of $ 1.11 per share, according to Refintiv IBES.
The Marathon results followed strong funding from other energy companies, including Valero Energy Corp (NYSE: VLO) and Phillips 66 (NYSE: PSX).

Marathon Petroleum The Projected value and The Intensity of the Refinement are Strong

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