04/30/18 – 5:46 P.M.

Marathon Petroleum Corporation reported higher earnings for the first quarter of 2018. The company posted earnings of $37 million for the first three months of the year. That’s compared to $30 million from last year.

The Midstream segment posted an income of $567 million, largely driven by MPLX. In 2017, the Midstream segment had an income of $309 million. The company reported that this increase is partially due to assets being moved from refining and marketing to MPLX. This also partially explain a loss in the refining and marketing segment. They posted $133 million losses this year compared to $70 million last year.

Speedway also saw a decrease in profit. They reported $95 million of income in 2018 compared to $135 in 2017 in the first quarter. The company reported that this is due to higher operating costs.

Despite the rising operating costs and moving assets, the company posted $440 million in income from operations. Up from the $291 million of income in 2017