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US refining's wild west: Marathon to shut Martinez, Gallup
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Report summary
On Friday 31 July, reports emerged that Marathon Petroleum is planning to permanently idle its refineries in Gallup, New Mexico and Martinez, California following several months of shutdowns at both sites as a result of the coronavirus pandemic’s impact on refined product demand. The plans to shut down two sites which Marathon acquired as part of its 2018 purchase of Andeavor speak to several trends in the US refining sector amidst a period of historically weak margins.
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