MPC Q1 Refining, Marketing Adjusted EBITDA DN 51.3% on Yr


   
   OAKHURST, N.J. (DTN) --- Marathon Petroleum Corp.'s refining and marketing 
segment adjusted EBITDA was $1.9 billion in the first quarter, down from $3.9 
billion for the first quarter 2023 amid lower market crack spreads and a 
decline in throughputs.

   R&M segment adjusted EBITDA was $7.73 bbl for the quarter profiled versus 
$15.09 bbl for the first quarter 2023. Segment adjusted EBITDA excludes 
refining planned turnaround costs which totaled $648 million in the first 
quarter compared to $357 million in the same quarter last year.

   R&M margin was $18.99 bbl for the quarter profiled, down from $26.15 bbl for 
the first quarter 2023. Crude capacity utilization was approximately 82% 
resulting in total throughput of 2.7 million bpd for the quarter reviewed.

   The company completed $648 million in planned turnaround activity in the 
first quarter, the highest level in company history. Turnarounds lowered 
utilization to 82%, which contributed to refining operating costs per barrel of 
$6.14.

   Midstream segment adjusted EBITDA was $1.6 billion in the first quarter 
versus $1.5 billion for the first quarter 2023. The results were primarily 
driven by higher rates and processing volumes.




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