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With gasoline exports on the rise, refinery CEO sees global demand increasing in 2018 [CNBC]

MARATHON PETROLEUM (MPC)  More Company Research Source: CNBC
Last marathon petroleum earnings: 7/26 07:05 am Check Earnings Report
US:NYSE Investor Relations: ir.marathonpetroleum.com
PDF show chapters The oil price recovery has sparked a resurgence in U.S. production, and for refinery giants like Marathon Petroleum Corporation , that translates into profits, CEO Gary Heminger told CNBC on Thursday. [Gasoline exports have] been, really, I think, one of the most important fundamentals of the refining industry over the last five, six years, Heminger told Mad Money host Jim Cramer in an interview. We exported 314,000 barrels per day in the fourth quarter . Exported. That's about 17 percent of what we make. So that is very important, to be able to hit the foreign markets. Foreign markets will likely drive Marathon's success in 2018 as well, according to Heminger's forecasts. We're expecting 2018, globally, to be up about 1.5 million barrels per day, the CEO said. That's going to require more and more exports from the U.S. And the U.S. Gulf Coast refineries, they're the best engines in the world. Much of Marathon's refinery net [Read more]

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