Marathon and Teamsters Union End Strike, Sign a Seven-Year Deal

Core Insights - Marathon Petroleum Corporation (MPC) has successfully resolved a three-month strike at its Detroit refinery, resulting in a seven-year collective bargaining agreement with the Teamsters union, which represents 275 workers [1][2]. Collective Agreement and Benefits - The new collective bargaining agreement includes a 24.5% wage increase over the contract's duration, employer-paid healthcare coverage, union security, and access to the Teamsters Central States Pension Fund [2]. - The agreement was reached after more than a year of negotiations and marks the first major strike at the Detroit refinery in 30 years, highlighting the importance of the workforce's contributions [2][3]. Operational Impact - During the strike, managerial staff managed daily operations at the Detroit refinery, which processes approximately 140,000 barrels of oil per day, converting Canadian crude into gasoline, distillates, and petrochemicals [4]. - The strike occurred during a challenging period for MPC, as the company faced the lowest profit margins in years [4]. Resumption of Operations - With the resolution of the strike, MPC is set to resume normal operations at the Detroit refinery, enhancing its energy production and distribution capabilities as union members return to work [5].