Marathon posts strong Q1 refining results as focus shifts more toward renewables

摘要

Marathon Petroleum has earmarked $1.7 billion for 2022 capital expenditures, with 50% of the $1.3 billion growth spending going towards the conversion of its Martinez, California, refinery into a renewable fuel facility, CEO Mike Hennigan said Feb. 2. Evaluating feedstock supply for the plant is part of the reason Marathon did not disclose capital spending until now, Hennigan said on the Q4 2021 results call.