Marathon Petroleum Corp. Chairman and CEO Gary Heminger, 66, plans to step down in 2020 after more than eight years at the helm to assuage the concerns of activist investors.
Articles from Elliott
Activist hedge fund Elliott Management Corp., whose funds collectively own about 2.5% of Marathon Petroleum Corp. (MPC), is pushing the Findlay, OH-based operator to separate its midstream, refining and convenience store businesses to unlock more value.
The U.S. Senate confirmed Howard “Skip” Elliott to serve as administrator of the Pipeline and Hazardous Materials Safety Administration (PHMSA) Thursday, but a motion to confirm Kevin McIntyre and Richard Glick to FERC was set aside after one senator objected.
BHP Billiton should jettison its U.S. petroleum business (offshore and on), which is undervalued by the market, does not contribute value to the company and does not mesh with BHP’s traditional mining operations, an activist shareholder said Monday in a letter to company directors.
The combination of oilfield technology advances and the accelerated investment interest in the Permian Basin has breathed new life into southeastern New Mexico, an Occidental Petroleum Corp. (Oxy) senior executive said Tuesday.
The rupture of a 12-inch DCP Midstream pipeline Friday night in Jackson County, LA, resulted in no injuries and was under control soon after, according to a report filed with the U.S. National Response Center.