Marathon Petroleum Takes Big Earnings Hit, Expansions Proceed

SUGAR LAND--October 28, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream company, refiner and retailer Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio) reported net earnings of $145 million for third-quarter 2016, compared to $948 million in the same quarter last year. Lower refining margins and an impairment charge for a pipeline project were partially to blame for the significant drop in earnings. Industrial Info is tracking $3.09 billion of projects belonging to Marathon Petroleum.