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MI - Marathon Petroleum to spin off Speedway, mull MPLX moves - November 2019
Marathon Petroleum will form a special board committee to review options for its midstream business, including master limited partnership MPLX. The downstream company also announced it will spin off its Speedway retail store operations. In addition, MPLX announced it had trimmed 2020 capex plans by $600 million to $2 billion. MPC has faced some activist shareholder pressure of late, but CEO Gary Heminger said a strategic review has been ongoing since January. “With a......
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