Marathon Petroleum: 2012 Refining Capacity to Rise

CBS News reported that Marathon Petroleum Corp.’s (NYSE:MPC) stated crude oil refining capacity will rise by about 50,000 barrels per January, 2012.

As quoted in the market news:

The company said it expects to spend about $1.2 billion in 2012 on capital projects, mainly to increase its ability to refine difficult-to-process crudes such as Canadian heavy oil sands and to improve access to inland crude oil, receive new crude oil production from eastern Ohio’s Utica shale and expand its gasoline and convenience store chain Speedway.

Click here to read the full CBS News report.