Marathon Petroleum expects $3.1 billion in annual distributions from MPLX
MPC•Marathon Petroleum expects $3.1 billion in annual distributions from MPLX, enough to more than cover standalone capital spending and dividends. It forecasts fourth-quarter 2026 refinery utilization of 95% and midstream adjusted EBITDA growth in the mid-single digits.
1. 2026 outlook
Marathon Petroleum expects fourth-quarter 2026 refinery utilization of 95%, compared with 100% in the third quarter, and throughput of 3.08 million barrels daily. It forecasts operating costs of $5.60 per barrel, refining turnaround costs of $230 million and distribution costs of $1.73 billion. Midstream adjusted EBITDA is expected to grow by mid-single digits, following third-quarter adjusted EBITDA of $1.88 billion.
