Findlay, OH-based Marathon Petroleum Corp.’s (MPC) CEO last Thursday introduced a revamped executive team to take over once its multi-billion-dollar merger with Andeavor is completed.

MPC CEO Gary Heminger would continue in the top spot with Andeavor CEO Gregory Goff becoming executive vice chairman at the newly combined company. MPC President Donald Templin would become president of refining, crude, and supply in the new company.

The Andeavor closing is on track for completion before the end of the year, and Heminger said he is “very optimistic about the prospects for our business,” citing strong global demand, wider crude differentials what he called the “changing dynamics” of the low-sulfur fuel market.

“Our team has made significant progress toward completing the combination,” said Heminger, noting that more than $1 billion worth of synergies are expected to be uncovered through the merger.

MPC late last April agreed to take over Andeavor, a combination that would, among other things, build a massive Permian Basin footprint.

The midstream arm MPLX is opening natural gas processing plant operations in the Marcellus and in Oklahoma within the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties. It also is building a 200 MMcf/d gas processing plant in the Permian’s Delaware sub-basin.

For 2Q2018, MPC reported earnings of $1.06 billion ($2.27/share), compared with $483 million (93 cents) for the same quarter in 2017. Income from operations of $1.71 billion, compared with $982 million for the same period last year.