4/27/17 – 7:35 A.M.

Marathon Petroleum is off to a better start in 2017 compared to last year. First quarter numbers reported by the company today show $30 million in net income through the end of March. That’s compared to $1 million during the same time in 2016. When factoring in all segment operations, the company posted $292 million in income, up $217 million from last year.

CEO Gary Heminger says the company also completed the largest quarterly turnaround in its history for the refining and marketing segment. He added, “With this turnaround activity at our three Gulf Coast refineries complete, we are positioned to take advantage of increasing refinery margins, favorable crude oil and refinery feedstock purchase costs, and seasonal improvement in consumer demand for our products.”

On its own, the refining and marketing segment posted a $70 million loss in the first quarter. That’s better than the $86 million loss from the same segment in 2016. Marathon says the loss was due to a $1.78 per barrel increase in the gross margin offset by higher direct operating costs resulting from increased turnaround activity.

Speedway saw $135 million in operational income for the first three months of the year. That’s down from $167 million last year. The company says most of the difference comes from the absence of a $24 million gain from the sale of a retail location in the first quarter of 2016.

The midstream segment had a strong first quarter, posting $309 million in income, up $120 million compared to 2016. Midstream operations include MPLX. The company says increased processing drove gains for the midstream segment.