MPLX Sees Huge Growth In 4th Quarter 2018

02/08/19 – 7:52 A.M.

Marathon subsidiary MPLX saw an 82% rise in profit in the fourth quarter of 2018. On top of that, revenue climbed 58% to $1.72 billion. Over 90 percent of MPLXs revenue is fee-based. It charges fees to oil producers and others to use its pipelines and other transportation and storage assets. That means it has less risk than refiners or producers when commodity prices swing.

Overall MPLX saw a 129% increase in profit for 2018 as a whole and revenue rose 66%.