Core Viewpoint - Marathon Petroleum exceeded Wall Street's profit expectations for the fourth quarter, driven by robust refining margins [1] Group 1: Financial Performance - The company reported a significant increase in profits, attributed to strong refining margins [1] - The fourth-quarter results surpassed analysts' forecasts, indicating a positive trend in financial performance [1] Group 2: Industry Context - The refining sector is experiencing favorable conditions, contributing to improved margins for companies like Marathon Petroleum [1] - Strong demand for refined products has bolstered the overall profitability of the refining industry [1]

Core Insights - Phillips 66 (PSX) is scheduled to report its fourth-quarter 2025 results on February 4, 2026, with earnings per share (EPS) estimated at $2.11, indicating a significant improvement from the previous year [1] - The consensus estimate for fourth-quarter revenues is projected at $30.2 billion, reflecting an 11.3% decline compared to the same period last year [1][7] - PSX has exceeded earnings estimates in three of the last four quarters, with an average surprise of 18.3% [2] Earnings Predictions - The model predicts an earnings beat for PSX, supported by a positive Earnings ESP of +0.88% and a Zacks Rank of 3 (Hold) [4] - The average WTI spot prices for the last quarter of 2025 were $60.89, $60.06, and $57.97 per barrel for October, November, and December, respectively, compared to higher prices in the same months of 2024 [6] Price Performance and Valuation - PSX's stock has increased by 21.8% over the past year, closely aligning with the industry average of 21.9% [8] - The current trailing 12-month EV/EBITDA ratio for PSX is 14.68, indicating it is trading at a premium compared to the industry average of 4.77 [11] Industry Context - The EIA projects the average WTI price for 2026 to be $52.21 per barrel, down from $65.40 per barrel in 2025, suggesting a favorable environment for refining companies like PSX [15] - Valero Energy reported fourth-quarter 2025 adjusted earnings of $3.82 per share, surpassing estimates, while Marathon Petroleum Corp. (MPC) is set to report on February 3, with a current Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [16]

Core Viewpoint - Chinese independent refiners are increasingly purchasing discounted Iranian heavy crude oil to compensate for the halted shipments from Venezuela, following the U.S. assertion of control over the OPEC producer last month [1] Group 1 - The shift in sourcing is a direct response to the disruption of Venezuelan oil supplies [1] - The involvement of independent refiners indicates a strategic move to secure alternative crude oil sources amid geopolitical tensions [1] - The discounted prices of Iranian heavy crude make it an attractive option for these refiners [1]

Core Insights - Kuwait's al-Zour refinery has achieved record-high fuel oil exports in January following a recovery from an outage, with a significant portion of its shipments directed towards Southeast Asia [1] Group 1 - The al-Zour refinery ramped up fuel oil exports to all-time highs in January [1] - The increase in exports comes after the refinery recovered from an operational outage [1] - Most of the refinery's cargoes are being shipped to Southeast Asia, indicating a strategic market focus [1]

Negotiators for the United Steelworkers union (USW) and Marathon Petroleum continued to meet on Saturday, just hours ahead of a deadline for possible strikes at multiple U.S. refineries and chemical p... ...

Core Viewpoint - United Steelworkers members at BP's Whiting refinery rejected a contract extension offer, indicating potential labor unrest at the largest refinery in the U.S. Midwest [1] Group 1: Company Overview - BP operates a refinery in Whiting, Indiana, with a capacity of 440,000 barrels per day, making it a significant player in the U.S. Midwest refining sector [1] Group 2: Labor Relations - The United Steelworkers union members voted against BP's proposal to extend their contract by 28 days, which may lead to negotiations or disruptions in operations [1]

FINDLAY, Ohio, Jan. 30, 2026 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) announced today that its annual meeting of shareholders will take place April 29, 2026, at 10 a.m. ET in a virtual-only format via live webcast. Shareholders of record as of March 3, 2026, are entitled to notice of and to vote at the annual meeting. The company's proxy statement will include additional information regarding how shareholders may access and participate in the virtual annual meeting. About Marathon Petroleum Cor ...

Core Insights - Mexico's new Olmeca refinery, also known as Dos Bocas, is beginning to reduce the country's reliance on fuel imports from the United States, marking a significant shift in energy independence [1][4] - The refinery, which has a nameplate capacity of approximately 340,000 barrels per day, is the largest in Mexico and was completed after a lengthy and costly process [2][3] - U.S. fuel exports to Mexico have reached their lowest level in 16 years, attributed to the increased production from the new refinery and other operational refineries [4] Refinery Performance - The Dos Bocas refinery has significantly contributed to the increase in Mexico's refining output, with production rates improving from less than 100,000 barrels per day to operating at 77.5% of its installed capacity by December [5] - Overall, Pemex's refineries achieved their highest run rates since 2015, indicating a positive trend in domestic fuel production [4][6] - Despite improvements, the average run rates of Mexico's refineries remain below their maximum capacity, with actual run rates at 1.14 million barrels per day compared to a maximum of 1.98 million barrels [6] Market Dynamics - The revival of Mexico's refining capacity is negatively impacting U.S. refiners, who have traditionally relied on heavy crude imports from Mexico [6] - Mexico's crude oil exports have declined significantly, with daily averages dropping from approximately 1.1 million barrels in 2020 to 503,000 barrels by December 2025 [6] - The flagship grade, Maya, saw a drastic reduction in outbound shipments, falling 86% from 2020 levels, indicating a shift in the supply dynamics in the North American oil market [6]

Core Viewpoint - Valero Energy (VLO) shares have performed strongly over the past year, gaining 35% due to a favorable refining macro environment compared to 12 months ago [1] Company Performance - The company reported another strong quarter, indicating continued robust performance [1] - Ongoing capital returns have supported the share price, contributing to its strong performance [1]

Core Viewpoint - Valero Energy (VLO) shares have performed strongly over the past year, gaining 35% due to a favorable refining macro environment compared to 12 months ago [1] Company Performance - The company reported another strong quarter, indicating continued robust performance [1] - Ongoing capital returns have supported the share price, contributing to its strong performance [1]