Marathon Petroleum Corp

The California Supreme Court ruled that cities cannot require taxpayers to complete extra local procedures before seeking a tax refund in court. This decision provided Marathon Petroleum with a procedural victory in its tax dispute with the City of Carson over additional taxes owed under an oil-industry business license tax.

Marathon Petroleum reported its highest profit in four years, driven by increased crack spreads due to supply disruptions in the Strait of Hormuz, resulting in a quarterly net income of $5.1 billion.

Michigan regulators approved Marathon Petroleum's air quality permit for a Detroit refinery expansion, despite concerns about increased emissions in an environmentally burdened community. The decision follows a July power outage that caused gas flaring and health concerns. The permit includes extended air monitoring and conditions addressing external utility losses.

A power outage affecting 400,000 DTE customers during the July 4 weekend sparked criticism from Democratic state Senate candidates and led to a Michigan Public Service Commission investigation. The outage, linked to a storm and a Marathon Petroleum refinery flaring event, caused community disruptions including carbon monoxide poisoning and food spoilage, with candidates demanding utility reforms.

Ohio attorney general candidates are demanding transparency from JobsOhio after a Democratic candidate filed an ethics complaint against Josh Rubin, the agency's board chair and CEO of CJR Group, which represents American Electric Power. The complaint alleges potential conflicts of interest involving a $100 million fund for nuclear reactor development, with JobsOhio facing longstanding controversies over corporate ties and financial incentives.

California gas stations including BP, Circle K, 7-Eleven, Walmart, Marathon Petroleum, and Albertsons are accused of using AI to inflate prices and violating antitrust law.

California gas stations including BP, Circle K, 7-Eleven, Walmart, Marathon Petroleum, and Albertsons are accused of using AI to inflate prices, allegedly violating antitrust law.

California gas stations including BP, Circle K, 7-Eleven, Walmart, Marathon Petroleum, and Albertsons are accused of using AI to inflate prices and violating antitrust law.

The Iran war has boosted U.S. oil producers and refiners, with stock prices rising 20%-70% this year due to higher crude prices and demand. Analysts suggest elevated prices may persist through 2027-2028, driven by global reserve rebuilding and geopolitical shifts. Companies like Chevron, Exxon Mobil, and U.S. shale producers have seen significant gains.

Iran warns that U.S. President Donald Trump's blockade against Iran is 'doomed to fail' as oil prices surge to a four-year high. Oil prices rose over 10% due to fears of prolonged supply disruptions amid Trump's threats of intensified military action against Iran.