Bloomberg News

Marathon Gets 1 Million Barrels From U.S. Oil Reserve

August 31, 2012

(Corrects name of company in first paragraph.)

Marathon Petroleum Corp. (MPC:US) will borrow 1 million barrels of sweet crude oil from the U.S. Strategic Petroleum Reserve to resolve short-term supply impacts from Hurricane Isaac, the Energy Department said.

The loan, which is distinct from a release from the strategic inventories, will be provided in response to a request from Marathon under short-term contractual agreements, the agency said today in a statement. 

To contact the reporter on this story: Katarzyna Klimasinska in Washington at kklimasinska@bloomberg.net

To contact the editor responsible for this story: Jon Morgan at jmorgan97@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • MPC
    (Marathon Petroleum Corp)
    • $79.63 USD
    • 1.84
    • 2.31%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus