Marathon Weathers Winter Storm Uri, Jumps on Renewable Fuels Bandwagon

SUGAR LAND--May 5, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Like other Texas industrial asset holders, Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio) took a hit when Winter Storm Uri came through the state; however, the outlook for the company is growing more positive in the face of vaccine rollouts and increasing demand for transportation fuels, although these still remain lower than historical levels. For the first quarter of 2021, Marathon said it saw positive earnings before interest, taxes, depreciation and amortization (EBITDA) in its Refining & Marketing segment for the first time since the onset of the COVID-19 pandemic, driven by higher refining margins. Additional changes are on the horizon as, like other refiners, Marathon begins rolling out plans to produce renewable fuels.