Summary
Marathon Petroleum Corporation (MPC) filed an 8-K on March 18, 2019, primarily to correct a typographical error in its previously filed 2018 Form 10-K. The correction pertains to the sources of crude oil for the years 2018, 2017, and 2016, specifically revising the amounts sourced from Canada and the Middle East/other international locations for 2018. This filing clarifies that the correction does not impact any previously reported financial results or operational disclosures. Investors can use the revised table to gain a more accurate understanding of MPC's crude oil sourcing strategy and its geographic diversification, particularly noting the significant increase in U.S. sourced crude oil in 2018, likely influenced by the Andeavor acquisition which closed in October 2018.
Key Highlights
- 1MPC filed an 8-K to correct a typographical error in its 2018 10-K regarding crude oil sourcing.
- 2The correction specifically amends data for crude oil sourced from Canada and the Middle East/other international locations in 2018.
- 3The revised table supersedes and replaces the original crude oil supply information in the 2018 Form 10-K.
- 4This filing explicitly states that no previously reported financial results or other disclosures are changed.
- 5The provided table shows crude oil supply in mbpd for 2018, 2017, and 2016, with figures for the United States, Canada, and the Middle East/other international.
- 6Total crude oil supply increased from 1,699 mbpd in 2016 to 2,081 mbpd in 2018.
- 7Crude oil sourced from the United States significantly increased from 986 mbpd in 2016 to 1,319 mbpd in 2018.