Strong Financial Performance: Marathon Petroleum Corporation (MPC) reported a second-quarter net income of $3.96 per share, with adjusted EBITDA reaching approximately $3.3 billion, reflecting a $1.3 billion sequential increase primarily driven by robust performance in the Refining and Marketing (R&M) segment. The R&M segment achieved an adjusted EBITDA of $6.79 per barrel, showcasing the company's effective operations and commercial strategy.

Record Refinery Utilization and Margin Capture: Refineries operated at 97% utilization, setting records at several locations. Margins were exceptional, with a capture rate of 105%, attributed to higher prices for diesel and jet fuel amidst low diesel inventories. This performance signals strong demand and profitability potential in a refining environment where favorable market conditions are expected to sustain.

Strategic Focus on Portfolio Optimization: MPC is actively optimizing its portfolio, evidenced by a $425 million divestiture of its interest in ethanol facilities, allowing for the monetization of assets at compelling multiples without affecting its market position. Simultaneously, MPLX (the Midstream segment) announced a strategic acquisition worth under $2.4 billion, expanding its gas gathering capabilities in the Delaware Basin, which is expected to be accretive to cash flows.