Marathon, MPLX Pare 2021 Spending Plans as Pandemic Outlook Offers Hopes, Warnings
Industry Segment: Petroleum Refining | Word Count: 799 Words
Attachment: MPC4Q20
SUGAR LAND February 3, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) Marathon Petroleum Corporation (NYSE:MPC) (MPC) (Findlay, Ohio) sees a light at the end of the pandemic tunnel, as the refining giant pointed to improved market conditions in fourth-quarter 2020, when a slight recovery in fuel demand narrowed its quarter-over-quarter net loss. Still, MPC and MPLX LP (NYSE:MPLX), a master limited partnership that focuses on midstream and processing, have reduced their capital-spending outlooks for 2021. Industrial Info is tracking more than $15.4 billion in active projects from MPC worldwide, including about $2.2 billion worth under construction in the U.S.