Heminger

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.

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.

Shipper interest is high to reverse the Capline oil pipeline, which would carry Canadian heavy crude supply to the Gulf Coast for potential refining or export, Marathon Petroleum Corp. (MPC) CEO Gary Heminger said Thursday.

With optimism generated by global production restraints and the new political order in Washington, DC, Marathon Petroleum Corp. (MPC) and master limited partnership (MLP) MPLX LP are planning to spend up to $3.4 billion in capital expenditures (capex) this year while accelerating up to $1.4 billion in dropdowns to the pipeline partnership.

A gradual, steady upward trend in global oil prices helped by an OPEC production freeze next month could eventually send crude prices into the $60/bbl range by year-end, according to Gary Heminger, CEO of refiner Marathon Petroleum Corp. (MPC).

A gradual, steady upward trend in global oil prices helped by an OPEC production freeze next month could eventually send crude prices into the $60/bbl range by year-end, according to Gary Heminger, CEO of refiner Marathon Petroleum Corp. (MPC).

Echoing some of the criticism from Congress toward the U.S. Commerce Department on its handling of proposals to allow crude oil condensate exports (see Shale Daily, July 10), Marathon Petroleum Corp. (MPC) CEO Gary Heminger on Thursday said the uncertainty is counterproductive economically. He made the remarks during a 2Q2014 conference call reporting greatly increased quarter-over-quarter results.