Should I take this as a good sigh? Or is it just the usual calm before the storm?
7 replies (most recent on top)
@2d5 the loss reports was based on oil futures contracts. They get oil would go lower and those contracts were likely worthless when the Iran war kicked off. Can't speak to what plays MPC has going but I can't see how you equate what PSX announced to MPC.
Once turnarounds are over this spring and MPC acknowledges the same losses the PSX just announced (~1B), they will have to go after personnel to keep the stop price up. Not to mention, little by little, legacy Marathon management has been being eliminated, so a big reduction is coming.
forget worrying about layoffs. people quitting is the problem now with what the media is showing overseas.
New CFO, capital budgets being cut, contract staff being reduced. I foresee layoffs before the end of 2027.
@dy Likely angling for a third large GC refinery.
MPC literally already owns two of the largest Gulf Coast refineries.
Where is MPC on acquiring a large Gulf Coast refinery? Possibly put on hold due to President Trump's Iran war? If MPC doesn't strike now, higher future cost of capital coupled with stagflation may put this acquisition out of reach.