FINDLAY, Ohio, March 16, 2018 /PRNewswire/ -- MPLX LP
(NYSE: MPLX) has reviewed the March
15 Federal Energy Regulatory Commission (FERC) policy
revision, in which FERC no longer will allow master limited
partnership interstate natural gas and oil pipelines to recover an
income tax allowance in cost-of-service rate filings. The
partnership expects these revisions to have a de minimis effect on
its earnings and cash flow.
About MPLX LP
MPLX is a diversified, growth-oriented master limited
partnership formed in 2012 by Marathon Petroleum Corporation
(MPC) to own, operate, develop and acquire midstream energy
infrastructure assets. MPLX is engaged in the gathering,
processing and transportation of natural gas; the gathering,
transportation, fractionation, storage and marketing of NGLs; and
the transportation, storage and distribution of crude oil and
refined petroleum products through a marine fleet and approximately
10,000 miles of crude oil and light product pipelines.
Headquartered in Findlay, Ohio, MPLX's assets
consist of a network of crude oil and products pipelines and
supporting assets, including storage facilities (tank farms)
located in the Midwest and Gulf Coast regions of the
United States; 62 light-product
terminals with approximately 24 million barrels of storage
capacity; storage caverns with approximately 2.8 million barrels of
storage capacity; a barge dock facility with approximately 78,000
barrels per day of crude oil and product throughput capacity; and
gathering and processing assets that include approximately 5.9
billion cubic feet per day of gathering capacity, 8.2 billion cubic
feet per day of natural gas processing capacity and 610,000 barrels
per day of fractionation capacity. In
addition, MPLX provides fuels distribution services to
MPC and owns refining logistics assets consisting of tanks with
storage capacity of approximately 56 million barrels as well as
refinery docks, loading racks and associated piping.
Forward-looking statement
This press release contains forward-looking statements within
the meaning of federal securities laws regarding MPLX LP
("MPLX"). These forward-looking statements relate to, among other
things, expectations, estimates and projections concerning the
business and operations of MPLX. You can identify
forward-looking statements by words such as "anticipate," "expect,"
"could," "may," "should," "would," "will" or other similar
expressions that convey the uncertainty of future events or
outcomes. Such forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties and
other factors, some of which are beyond our control and are
difficult to predict. Factors that could cause MPLX's actual
results to differ materially from those implied in the
forward-looking statements include: the actual impact of the policy
revision on our earnings and cash flow; other adverse changes in
laws or regulatory matters; continued/further volatility in and/or
degradation of market and industry conditions; other risk factors
inherent to MPLX's industry; and the factors set forth
under the heading "Risk Factors" in MPLX's Annual Report
on Form 10-K for the year ended Dec. 31, 2017, filed with
the Securities and Exchange Commission (SEC). In
addition, the forward-looking statements included herein could be
affected by general domestic and international economic and
political conditions. Unpredictable or unknown factors not
discussed here or in MPLX's Form 10-K could also
have material adverse effects on forward-looking statements. Copies
of MPLX's Form 10-K are available on the SEC website
or by contacting MPLX's Investor Relations
office.
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SOURCE MPLX LP