Marathon Petroleum Reports Third Quarter Results

Reuters reported that Marathon Petroleum Corporation (NYSE:MPC) announced its third quarter net income of $1.13 billion.

As quoted in the market news:

• Earnings per diluted share increased to $3.16 from $0.77 in third quarter 2010

• Refining & Marketing pre-tax segment income from operations of $1.7 billion, up from $352 million in third quarter 2010

• Further strengthened financial position

• 25 percent increase in quarterly dividend

• Detroit Heavy Oil Upgrade Project on budget and on schedule

Click here to read the full Reuters report