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Marathon Petroleum turns refining strength into bigger shareholder returns

Marathon Petroleum profit surges as refining margins fund dividend and buyback push

Marathon Petroleum reported a sharp third-quarter earnings increase, powered by much stronger refining margins and full refinery utilisation. The company also lifted its dividend, added US$5 billion to its buyback authorisation and agreed to sell two refineries for US$4.2 billion.
Maxwell Dee
4 Nov 2026