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Marathon, MPLX Pare 2021 Spending Plans as Pandemic Outlook Offers Hopes, Warnings
Industry Segment: Petroleum Refining | Word Count: 799 Words
SUGAR LAND--February 3, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Marathon Petroleum Corporation (NYSE:MPC) (MPC) (Findlay, Ohio) sees a light at the end of the pandemic tunnel, as the refining giant pointed to improved market conditions in fourth-quarter 2020, when a slight recovery in fuel demand narrowed its quarter-over-quarter net loss. Still, MPC and MPLX LP (NYSE:MPLX), a master limited partnership that focuses on midstream and processing, have reduced their capital-spending outlooks for 2021. Industrial Info is tracking more than $15.4 billion in active projects from MPC worldwide, including about $2.2 billion worth under construction in the U.S.
Within this article: Details on some of the highest-valued projects from MPC and MPLX, including the South Texas Asset Repositioning (STAR) program at the Galveston Bay and Texas City refineries in Texas; a major pipeline from the Permian to the Texas Gulf Coast; and a series of gas-processing projects.
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