Marathon Petroleum Outlines $1.3 Billion Capital Spending for 2023

February 1, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio) plans to spend $1.3 billion on capital items in 2023, with a large chunk of its growth capital allocated for "low-carbon opportunities," the refiner said Tuesday. Approximately 70% of overall spending is focused on growth capital and 30% on sustaining capital, the company said in its fourth-quarter 2022 earnings announcement.