Marathon Petroleum NEWS

U.S. oil refiner Marathon Petroleum Corp posted a smaller-than-expected quarterly loss on Monday. The demand recovery helped Marathon post a smaller adjusted loss of $868 million, or $1.33 per share, for the second quarter, compared with analysts’ estimate of a $1.75 loss. Investors had been worried about the refiner’s large debt due over the next five years. About half of the company’s $32 billion in total debt is outstanding through 2025.

Fluor Corp has reported completion of substantial engineering for Marathon Petroleum’s Tier 3 gasoline sulfur standard reconfiguration project at the Galveston Bay refinery. Fluor is offering engineering, procurement and construction management services for the Texas refinery to achieve newly-formulated U.S. Environmental Protection Agency Tier 3 gasoline sulfur norms, by 2020.