-- US downstream and midstream energy company Marathon Petroleum (MPC) Tuesday reported its Q1 results, showing relatively steady refining inputs and a decline in pipeline and terminal throughputs.
For the quarter ended March 31, net refinery throughputs were largely unchanged from a year earlier at around 2.9 million barrels per day. Crude oil capacity utilization also remained flat at 89%, with crude oil refining capacity little changed at about 3.0 million barrels per calendar day.
On the Gulf Coast, net refinery throughput rose year over year to 1.21 mmbbls/d from 1.16 mmbbls/d. On the West Coast, throughput also climbed to 529,000 barrels per day from 504,000 b/d.
However, lower refinery inputs in Mid-Continent offset these increases. Net refinery throughput in the region dropped to 1.1 mmbbls/d from 1.2 mmbbls/d.
During the period, the company's refining segment processed 48% sour crude oil and 52% sweet crude oil. This compares with the previous year's mix of 46% sour and 54% sweet crude.
The company projects refinery throughputs will increase to about 3 mmbbls/d in Q2.
In the midstream segment, the company saw pipeline throughputs declining year over year to 5.8 mmbbls/d from 6.0 mmbbls/d. Terminal throughputs also dropped to 3.0 mmbbls/d from 3.1 mmbbls/d.
At the same time, gathering system throughputs eased to 6.49 million cubic feet per day from 6.52 mcf/d, and natural gas processed fell to 9.4 mcf/d from 9.8 mcf/d.
The company also said its renewable diesel business posted a lower utilization level due to planned downtime at the Martinez Renewables joint venture facility, which weighed on the segment margin.