Quarterly guidance

Refining & Marketing throughput
2.8 million barrels per day, representing 95% utilization.
Refining & Marketing turnaround expenses
$230 million.
Renewable diesel utilization
85%.
Renewable diesel turnaround costs
$65 million.

Annual guidance

2026 turnaround expenses
$1.350 billion.

Outlook

Refining environment
Management expects an enhanced mid-cycle environment through the end of the decade with elevated margins through at least mid-2027.
Demand
Consumer demand remains resilient across gasoline, diesel, and jet, both domestically and internationally.
Gulf Coast investment
The company plans to invest proceeds from the asset sale into Gulf Coast opportunities to enhance reliability and lower operating costs.
MPLX growth
MPLX is positioned to deliver durable mid-single-digit adjusted EBITDA growth supported by new projects.
WCS differentials
Management expects heavy Canadian crude differentials to remain strong and potentially widen further.
2027 Turnarounds
Management anticipates 2027 will be a lighter year for turnaround activity compared to 2026.