Marathon shares traded at $38.20 on Friday, down 38% year to date. She declined to comment on specific actions. Since then, operators have included Phillips, Tosco, Ultramar Golden Eagle and Tesoro. Plant operations would be challenged for several years because of the drop in demand, a LyondellBasell executive said. Martinez is California’s fourth largest refinery. This material may not be published, broadcast, rewritten or redistributed, By viewing our video content, you are accepting the terms of our. About 860 employees work at the 161,000 barrel per day (bpd) Martinez and 27,000-bpd Gallup refineries. The largest U.S. refiner by volume had earlier idled the two facilities following weak demand due to COVID-19 outbreaks in the United States. phased reduction of staffing levels” in October, the company said. Marathon Martinez Refinery (Photo: Marathon Petroleum Corp). Coronavirus real estate: Silicon Valley adjusts, California will release theme park reopening plan ‘when we’re ready,’ state official says, Santa Clara County reaches ‘orange’ coronavirus tier: Here’s when indoor dining could resume, Michelin decides not to award California restaurant stars this year after all. Marathon said it plans to use the Martinez facility as an oil-storage facility and is evaluating its future use to produce renewable diesel, a fuel made from industry waste and used cooking oil. Thin profit margins have been undercut by the need to operate plants at less than 80% capacity. Click to subscribe to real-time analytics on MPC … Carson, California — Investigators are looking into what sparked a tremendous explosion and fire at the largest fuel refinery on the West Coast. CLICK HERE TO TURN ON NOTIFICATIONS. The Galveston Bay operation may lose as many as 100 workers this week and up to 200 before the reductions end, one of the people said. The company on Monday is forecast to swing to a second-quarter loss of $1.75 per share, from a $1.73 per share profit a year ago, according to Refinitiv data. The Findlay, Ohio-based company has been shedding units to improve results. Post was not sent - check your email addresses! The company is also putting a New Mexico refinery on indefinite hold and announced that most jobs would be lost at the two sites, with phased layoffs starting in October. Editing by Diane Craft and Daniel Wallis), Get Morning Report and other email newsletters. Marathon Petroleum will "indefinitely idle" its Martinez refinery and convert the site to a terminal facility, the company announced Friday, blaming … Marathon spokesman Sid Barth declined further comment about the closures on Saturday. (Adds company statement) Feb 26 (Reuters) - A portion of Marathon Petroleum Corp’s 363,000 barrel-per-day Carson refinery in California has been shut following a fire, the company said on Wednesday. All quotes delayed a minimum of 15 minutes. In August, Marathon began closing refineries in Martinez, California, and Gallup, New Mexico, eliminating 800 jobs. It lost $9.2 billion in the first half of the year, mostly on impairment charges. Marathon officials are “communicating with our employees about measures we announced earlier this year to strengthen Marathon Petroleum for short-term and long-term success,” a spokeswoman said in a statement. Marathon bought the refinery in 2018. In August, Marathon began closing refineries in Martinez, California, and Gallup, New Mexico, eliminating 800 jobs. HOUSTON, Aug 1 (Reuters) – Marathon Petroleum plans to permanently close its oil refineries in Martinez and Gallup, New Mexico, the company said, eliminating 800 jobs in response to lower fuels demand.

Globe Life Field Graduations 2020, Jessica Lynch 2019, Bachelor Of Law, St Thomas Daily News, Western University International Students Fees, Views From Gielgud Theatre, Manufactured Homes For Sale In Orange Tree Village Orange City, Fl, Manchester Station, Université Du Québec à Chicoutimi, Matilda The Musical (original Cast Recording), Pruweba Tagalog,