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Marathon Petroleum (NYSE:MPC) mentioned it has extinguished a hearth at its 578K bbl/day Garyville refinery in Louisiana, which exploded into flames at ~9:30 this morning native time; 5 folks have been injured within the explosion and hearth, in keeping with Reuters.
It isn’t but recognized if any damages have been important sufficient to halt processing models on the advanced, however the incident may threaten to scale back gasoline provides and lift pump costs; greater than 10% of refining capability within the area already is idle for repairs and different upkeep work, Bloomberg stories.
Marathon Petroleum shares not too long ago rose to three-year highs after beating This fall earnings estimates and increase its inventory buyback program.
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