Marathon Petroleum stock adds Gulf Coast project detail after Q3 surge
Published on 11/10/2026 at 16:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGulf Coast investment focus deepens
- Marathon Petroleum plans a 90,000-barrel-per-day distillate hydrotreater at its Galveston Bay refinery.
- The company expects lower fourth-quarter throughput after full utilization in the third quarter.
- Execution of the refinery sale and future refining margins remain key investor issues.
Marathon Petroleum has added a more specific Gulf Coast investment project to the portfolio reset that followed its strong third quarter. The company is advancing a 90,000-barrel-per-day distillate hydrotreater at its Galveston Bay refinery, designed to increase ultra-low-sulfur diesel production.
AD HOC NEWS reported that Marathon Petroleum maintained its 2026 capital-spending outlook, excluding MPLX, at 1.5 billion US dollars. Management plans to direct capital toward projects that meet return thresholds, with the Gulf Coast as the main priority.
Refining strength meets lower throughput
Marathon Petroleum reported adjusted third-quarter net income of 7.5 billion US dollars, or 26.93 US dollars per diluted share, compared with 915 million US dollars and 3.01 US dollars per share a year earlier. Adjusted EBITDA rose to 11.7 billion US dollars from 3.2 billion US dollars, while the Refining & Marketing segment generated 9.9 billion US dollars versus 1.8 billion US dollars.
The company agreed to sell its St. Paul Park and Mandan refineries and related midstream assets for 4.2 billion US dollars. Marathon Petroleum expects to receive 3.45 billion US dollars, while MPLX is to receive 750 million US dollars for associated logistics assets. Closing is expected by the end of 2026.
Management expects fourth-quarter crude throughput of 2.83 million barrels per day and total refinery throughput of 3.08 million barrels per day. Planned refining turnaround costs of 230 million US dollars could weigh on near-term operating performance after third-quarter crude utilization reached 100 percent.
Marathon Petroleum stock traded at 342.20 euros on Lang & Schwarz at 14:38 CET on Tuesday, November 10, 2026.
Marathon Petroleum Corporation
- ISIN: US56585A1025
- Stock symbol: MPC
- Primary exchange: New York Stock Exchange
- Lang & Schwarz quote: 342.20 euros on Tuesday, November 10, 2026, at 14:38 CET
- WKN: A1JEXK
US energy shares remain sensitive to crude prices, refined-product demand and broader market risk appetite. The S&P 500 provides the wider market backdrop for the sector.
