Business

Marathon Petroleum to close its Martinez refinery and convert it to an oil-storage facility


HOUSTON, Aug 1 (Reuters) – Marathon Petroleum plans to permanently close its oil refineries in Martinez and Gallup, New Mexico, the company said, eliminating 800 jobs in response to lower fuels demand.


“Most jobs at these refineries will no longer be necessary, and we expect to begin a phased reduction of staffing levels” in October, the company said.


The largest U.S. refiner by volume had earlier idled the two facilities following weak demand due to COVID-19 outbreaks in the United States.


“Most jobs at these refineries will no longer be necessary, and we expect to begin a phased reduction of staffing levels” in October, the company said.


“We will continue to utilize our integrated system to meet customer commitments,” the company said in a statement on its website.


(Reporting by Gary McWilliams and Erwin Seba in Houston; Editing by Diane Craft and Daniel Wallis)






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