Reuters reported exclusively that Marathon Petroleum Co, the largest U.S. independent refiner, is exploring the sale of assets of its pipeline subsidiary MPLX LP worth as much as $15 billion. The divestment would give the Findlay, Ohio-based company a cash boost at a time when a looming economic slowdown triggered by the global coronavirus outbreak and lower oil prices are weighing on its prospects. Marathon’s shares have lost half their value in the last three weeks.
Reuters reveals Marathon Petroleum exploring $15 billion MPLX asset sale
11 March 2020, 12:00 am. 1 minute
Type: Reuters Best
Sectors: Commodities & Energy
Win Types: Exclusivity
Story Types: Exclusive / Scoop