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  "documentTitle": "Marathon Petroleum Corporation (MPC)",
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  "authorName": "Elliott Management",
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  "presentationDate": "2016-11-01 00:00:00",
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  "notes": "Uses red/blue color coding to distinguish Marathon (red) from peers (blue) and indicate retail ownership status.",
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      "text": "Marathon’s refineries exhibit no higher utilization than merchant refiner peers who do not own retail.",
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      "text": "refinery utilization: 94%",
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      "text": "Source: Company financials; Analyst reports; EIA.",
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      "text": "(1) Averages of 2013-YTD 2016 utilization... (2) MPC PADD 2 utilization is Midwest Region... (3) PADD 2 comps are PSX Central Corridor... (4) % of PADD-wide Refining Capacity...",
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