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MarketScreener Homepage  >  Equities  >  Nyse  >  Marathon Petroleum Corporation    MPC

MARATHON PETROLEUM CORPORATION

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Equatorial Guinea Pushes Ahead With Building Of Oil Refinery for Local Supply

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09/22/2020 | 04:02am EDT

By Emmanuel Tumanjong

 

The government of Equatorial Guinea has said a new oil refinery expected to be built in the months ahead will cost between $55 million and $76 million.

The modular refinery, to be operated by U.S. energy company Marathon Petroleum, will have a capacity of between 5,000 and 10,000 barrels daily and will drill its crude from the Alba and Alen wells.

It will enable the Central African nation to produce oil for local consumption and help it cut imports of refined oil and halt shortage of refined hydrocarbons products.

Minister for Mines and Hydrocarbons Gabriel Mbaga Obiang Lima said the investment will start in the first quarter of 2021.

The push for the building of the refinery comes after a study into the feasibility of the project was completed in June by V-Fuels Oil and Gas Engineering.

 

Write to Barcelona Editors at barcelonaeditors@dowjones.com

 


Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.01% 1902.53 Delayed Quote.25.27%
LONDON BRENT OIL 0.42% 42.58 Delayed Quote.-34.86%
MARATHON PETROLEUM CORPORATION -3.81% 28.25 Delayed Quote.-53.11%
SILVER 0.53% 24.5048 Delayed Quote.35.77%
WTI 0.50% 41.048 Delayed Quote.-33.28%
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Financials (USD)
Sales 2020 75 834 M - -
Net income 2020 -10 543 M - -
Net Debt 2020 29 825 M - -
P/E ratio 2020 -1,75x
Yield 2020 8,21%
Capitalization 18 382 M 18 382 M -
EV / Sales 2020 0,64x
EV / Sales 2021 0,55x
Nbr of Employees 60 910
Free-Float 66,0%
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Technical analysis trends MARATHON PETROLEUM CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 16
Average target price 46,47 $
Last Close Price 28,25 $
Spread / Highest target 134%
Spread / Average Target 64,5%
Spread / Lowest Target 13,3%
EPS Revisions
Managers
NameTitle
Michael J. Hennigan President, Chief Executive Officer & Director
John P. Surma Non-Executive Chairman
David R. Sauber SVP-Labor Relations, Operations & Health Services
Donald C. Templin Chief Financial Officer & Executive Vice President
Donald W. Wehrly Chief Information Officer & Vice President
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