Full-Time
Updated on 9/4/2026
Downstream energy company refining and marketing
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Findlay, OH, USA
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Bachelor's
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Company Size
10,001+
Company Stage
IPO
Headquarters
Findlay, Ohio
Founded
1887
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"We're going to have to draw a line in the sand": Locked-out Martinez refinery workers speak out. Around 120 members of United Steelworkers Local 5 at Marathon Petroleum's Martinez, California refinery have been locked out after the company refused their offer to return to work while contract negotiations continued. The workers went on strike April 27 over chronic understaffing, forced overtime and unsafe conditions, as well as Marathon's refusal to extend to Martinez the four-year national agreement covering most US refinery workers. In June, the USW offered to return unconditionally and continue bargaining without a contract. Marathon refused to bring the entire workforce back, turning the strike into a lockout. Workers say Marathon is seeking to eliminate 46 jobs despite staffing studies showing the need for additional operators, while also pushing for more overtime and shorter training periods for new operators. The attack at Martinez is aimed at further breaking up the national bargaining framework covering roughly 30,000 refinery and petrochemical workers. More than 800 workers at BP's Whiting, Indiana refinery have also been locked out since March 19 after rejecting a concessions contract by 98.3 percent. Last August, workers voted for a mandatory National Oil Bargaining Program calling for a 25 percent wage increase over four years, protections against job losses from artificial intelligence and improved healthcare. Instead, the USW and lead company Marathon reached a pattern agreement in February providing only 15 percent over four years, with no guarantees against job losses from AI. Refinery workers across the country reacted with anger, and many told the WSWS they wanted strike action to enforce the program they had voted for. But outside of the two lockouts, the United Steelworkers has kept refinery workers on the job. Conditions exist for a far broader struggle. Around 23,000 USW members at US Steel and Cleveland-Cliffs are working under 30-day contract extensions following the September 1 expiration of their agreements. In Hamilton, Ontario, more than 1,200 National Steel Car workers have been on strike since August 12 against the piecework system and other attacks. At Martinez, workers said chronic understaffing is at the center of the safety crisis at the plant. Several staffing studies had already established the need for more operators, they said, but the company refused to discuss staffing during bargaining. It later proposed eliminating 46 jobs while demanding still more overtime. The normal schedule is supposed to be four 12-hour shifts followed by four days off. But two of the four "off" days can be made mandatory workdays. "Some guys were working 13-in-ones," one veteran operator said, meaning 13 days straight followed by a single day off. "At the 14th day, the company's like, 'Okay, you have to take a day off.'" Workers said understaffing can force operators to postpone routine rounds and other essential tasks to meet production demands. Operators are responsible for monitoring temperatures, inspecting lines and detecting leaks in a facility where mistakes can have catastrophic consequences. Marathon is also seeking to reduce the amount of time required to qualify new operators. Workers connected this directly to the November 2023 furnace fire that left operator Jerome Serrano with third-degree burns over more than 80 percent of his body. "He should still have been training," one worker said. "Should he even have been out there is the question, right?" Managers and scabs are operating the facility while experienced unit operators and trained emergency responders remain outside. "They've got the managers in there doing 13-in-ones for four months," a veteran operator said. "You don't think they get fatigued? You don't think they get tired? It's just a matter of time before they make a mistake and something happens." Martinez operators are also part of the mutual-aid emergency response system among Bay Area refineries. "If something happens at a sister refinery down the road, the community is all at risk because we can't be over there to help." Workers increasingly see the company's objective as breaking their organization and establishing a precedent for future attacks. One said he feared Marathon was "trying to write the playbook on how to break [us] here." The offensive is taking place amid enormous corporate profits. Marathon reported $5.1 billion in net income in the second quarter, more than four times the $1.2 billion it made in the same quarter of 2025, and returned $2.8 billion to shareholders. Its refining and marketing earnings soared as refining margins rose sharply. "We're out here asking for them to put some money into the safety of this place, for our community and for ourselves," one operator said. "It's completely unfair." The discussion broadened to the cost-of-living crisis and growing social inequality. One veteran operator said he was poorer in real terms than when he first hired in, despite years of work and enormous amounts of overtime. "Everything's gone up. Medical, everything, and wages are not keeping up. And my story is not unique. It's going across the entire country." "We're working 60-plus hours a week just to try to float, stay ahead," he added. "At some point, we're going to have to make a stand as all workers in this country. We need to make a stand that enough is enough." He pointed to the growth of the federal debt and the policies pursued since the 2008 financial crash as expressions of a deeper economic crisis. The gross federal debt crossed $40 trillion in August, while the Congressional Budget Office projects federal net interest costs of more than $1 trillion this year. "On paper, we look richer because we make more dollars," he said, "but those dollars aren't buying the same thing as they were just 10, 15 years ago. But it's the middle class and the workers who are paying the real penalty." Workers also connected corporate profits with war. "Whether it's war or locking us out, only ones getting rich are the ones at the top," one said. The National Steel Car strike provides a concrete example of how workers can begin overcoming the isolation of separate struggles. The National Steel Car Rank-and-File Committee (NSC-RFC), founded by shop-floor workers during the 2023 strike, has called for workers to take control of the present struggle and expand it throughout North America. It has appealed directly to steelworkers in the United States to form their own rank-and-file committees and prepare common action. It has also called on railroad workers in Canada and the United States not to handle NSCX cars that continue generating revenue for National Steel Car during the strike. Martinez workers responded strongly when WSWS reporters described the NSC struggle. "I support him. I support him," one operator said when asked what he would say to a Canadian USW striker. "You have to strike for your rights." The discussion turned to the trade war between Washington and Ottawa and the attempt to present workers in different countries as competitors. Asked whether US and Canadian workers had the same interests, one operator replied, "Yeah. Absolutely. I don't think we're enemies or competitors." He extended the same point to Mexico. "Everybody just wants to provide for their family and live a good life," he said. "I don't think the borders change that in any country." These sentiments point to the way forward. The Martinez and Whiting lockouts, the National Steel Car strike and the developing contract battles at US Steel and Cleveland-Cliffs must be united into a common movement, rather than kept separate by company, industry or national border. The example of the NSC-RFC shows that the initiative must come from workers themselves. Rank-and-file committees should be built at Martinez, Whiting and throughout the refinery industry to establish direct communication with one another, send delegations to steel plants and other workplaces and prepare coordinated action. These committees should link up with the NSC-RFC and the International Workers Alliance of Rank-and-File Committees to organize the broadest possible fight against job cuts, unsafe conditions, falling living standards, trade war and war. "Eventually at some point we're going to have to draw a line in the sand and say no more," a Martinez worker said. "Maybe that's what it's going to take. Everybody coming out together and striking."
2026 Central Texas ORBIE Awards recognize top technology executives in Central Texas. Leading CIOs honored for leadership, innovation, and business impact at the Central Texas ORBIE Awards on August 28, 2026, at the JW Marriott Austin. AUSTIN, Texas, Aug. 31, 2026 (GLOBE NEWSWIRE) - The 2026 Central Texas ORBIE Awards honored leading chief information officers (CIOs) from for their exceptional leadership. Hosted by CentralTexasCIO, one of over 50 Inspire Leadership Network chapters, the prestigious award honors CIOs who drive business transformation and industry impact. View finalists, partners, and more on the Digital ORBIE Feature. This exclusive event brought together top executives and industry leaders from Central Texas. The morning honored excellence in technology leadership across six award categories at the JW Marriott Austin. "Behind every technology innovation is a CIO leading the vision and shaping the strategy," said Kevin Harwood, CentralTexasCIO Chair. "The ORBIE Awards are the ultimate recognition program for the leaders behind the work." Meet the 2026 Central Texas ORBIE Award Winners: * Ehren Powell, Chief Digital Officer, Marathon Petroleum, received the Leadership ORBIE. * Cynthia Carbrey, CIO Global, Kautex Textron, received the Global ORBIE for organizations over $2.5 billion annual revenue and multi-national operations. * Linda Albornoz, Senior EVP and CIO, Frost Bank, received the Large Enterprise ORBIE for organizations over $2 billion annual revenue. * Vivek Sagi, Chief Product and Technology Officer, Bumble Inc., received the Enterprise ORBIE for organizations over $800 million annual revenue. * Kevin Harwood, CTO, Tecovas, received the Large Corporate ORBIE for organizations over $350 million annual revenue. * GS Jha, Global CIO and CISO, QuantumScape Inc., received the Corporate ORBIE for organizations up to $350 million annual revenue. About the ORBIE: The ORBIE is the preeminent executive recognition for C-suite leaders. Since 1998, the ORBIE Awards have recognized leadership excellence, building relationships between executives and trusted business partners, and inspiring the next generation of leaders. Finalists and winners are selected through an independent peer-adjudicated process led by prior ORBIE recipients based on the following criteria: * Leadership and management effectiveness * Business value created by technology innovation * Engagement in industry and community endeavors Central Texas ORBIE Keynote & Attendance: The keynote address for the Central Texas ORBIE Awards was delivered by Ehren Powell, Chief Digital Officer, Marathon Petroleum, who was interviewed by Lou Senko, Chief Customer Experience Officer, Q2. Over 250 guests attended, representing leading Central Texas organizations and their technology partners. The following partners made the 2026 Central Texas ORBIE Awards possible: * Underwriters: Rimini Street and SBase Technologies * Gold Partners: Comcast Business, Sutherland Global, and Velocity * Silver Partners: Adastra, Amazon Web Services, Cloudflare, Myriad360, EPAM NEORIS, SHI International, Spectrum Business/Ring Central, and Waterloo Data * Bronze Partners: Between Pixels, Coforge, Darwinbox, Everforth Quinnox, HotelKey, Sonata Software, and Tech Mahindra * Media Partner: Austin Business Journal * Nonprofit Partner: Year Up United About CentralTexaxCIO: CentralTexasCIO is the preeminent peer leadership network of chief information officers (CIOs) in Central Texas. As one of over 50 chapters of the Inspire Leadership Network, CentralTexasCIO belongs to a national membership organization exclusively comprised of C-suite leaders from public and private businesses, government, education, healthcare, and nonprofit institutions. CentralTexasCIO is led by a CIO Advisory Board, with support from an executive director and staff. Underwriter executives support the chapter and ensure the programs remain member-led and exclusive to qualified CIOs and members. About Inspire Leadership Network: Inspire Leadership Network is the preeminent peer leadership network of C-suite executives. With over 2,000 members across over 50 chapters, Inspire members serve public and private businesses, government, education, healthcare, and non-profit institutions. Inspire exists to help leaders thrive in today's most challenging executive roles. Media Contact Nicole Lammes [email protected]
Trump to host oil executives after accusing refiners of gouging consumers. By Jarrett Renshaw Reuters Updated August 31, 2026 3:40 AM Gift Article Aug 31 (Reuters) - President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran. On Tuesday, he is expected to host many of those companies at the White House to celebrate efforts to keep the market well supplied in hopes of managing gasoline prices currently averaging over $4 a gallon. The timing has created an unusual calculation for executives. Companies received invitations only late last week, with few details about the event or even who else would attend, according to people familiar with the plans, leaving some to consider whether sending their CEOs could turn a traditional White House meeting into an uncomfortable encounter with an unpredictable president. "You want to be at the table, but you also have to think about what could happen once you're there. You don't want your CEO to be embarrassed," said one company official involved in advising what executives would attend. Another company official said there were some concerns about the event, but the gathering also offered executives a rare opportunity to raise issues directly with Trump, including the administration's biofuel policy and the Jones Act, which can affect the cost and availability of fuel shipments between U.S. ports. "There are certainly concerns about the optics, but you also don't want to miss an opportunity to have a direct conversation with the president about issues that are important to the industry," the official said. There is reason for caution. At a White House meeting in January, Exxon CEO Darren Woods drew Trump's ire by calling Venezuela "uninvestable" in its current form. Trump later said he was "inclined to keep Exxon out" of Venezuela, accusing the company of "playing too cute." Exxon, the nation's third-largest refiner by capacity, was not invited to Tuesday's meeting, according to sources. The White House did not comment on the attendee list, and Exxon did not respond to requests for comment. Invited companies span the refining industry, from large integrated oil companies to smaller independent fuel makers. They include Marathon Petroleum, Delek US Holdings, Chevron, PBF Energy and Valero Energy, according to people familiar with the plans. None of the companies responded to requests for comment about any concerns over attending the meeting. EXPANDING REFINING CAPACITY The White House says the meeting will focus on expanding U.S. refining capacity, arguing years of Democratic policies led to refinery closures and discouraged investment in new facilities and expansions. The U.S. is operating at nearly 100% of its existing refining capacity, a White House official said, leaving the administration focused on "concrete, near-term steps" to increase capacity and ultimately lower gasoline prices for consumers. The meeting comes as the administration works to increase flows of Venezuelan crude to U.S. refineries, the official said. Trump has made cheaper energy a centerpiece of his economic agenda, but has increasingly trained his ire on refiners as pump prices have remained elevated, accusing them of profiteering even as he courts their support for his broader push to expand U.S. energy production. Gasoline prices have remained elevated throughout much of the year, surging after the Iran conflict began in late February and climbing above $4 a gallon in the spring. Heading into the Labor Day weekend, prices are at their highest level ever for this point in the year, with the American Automobile Association saying August is on track to be the most expensive for that month on record. U.S. refiners enjoyed bumper profits in the second quarter as gasoline and diesel margins surged and overseas buyers turned to the U.S. for fuel as global supplies were disrupted. Marathon, Phillips 66 and Valero - three of the largest U.S. refiners - reported a combined $12.6 billion in second-quarter profits, according to Reuters. Stephen Brown, a former Washington energy lobbyist and consultant who has advised CEOs on presidential politics, said he would not recommend sending a CEO to the event given Trump's treatment of the industry in recent months. "This event is a made-for-TV moment, strictly performative, that can only embarrass the company," Brown said. (Reporting By Jarrett Renshaw; Editing by Nathan Crooks and Chris Reese) This story was originally published August 31, 2026 at 3:13 AM.
Verdantix announces Octave as title sponsor of Transform Industrial Agility Summit 2027. 24 August 2026 Key highlights * 10+ senior industrial leaders confirmed to take the stage at inaugural Transform Industrial Agility Summit. * Verdantix analysts to share new benchmark data on AI investment returns and provide one-to-one briefings for delegates. Verdantix today announced that Octave is the title sponsor of its inaugural Transform Industrial Agility Summit, taking place on Tuesday 16 March 2027 at The Westin Oaks hotel at the Galleria, Houston, Texas. The new summit will convene 150 senior leaders across engineering, maintenance, operations, supply chain, IT and digital transformation functions. Attendees and speakers will share their insights on how industrial executives can translate AI ambition into frontline operational outcomes, strengthen decision-making and improve resilience in the face of global disruption. Octave is a global leader in enterprise software, turning data into decisive action and intelligence into a competitive edge. Its software solves for and simplifies complexity, from design and build to operations and the protection of people, property and assets. Its solutions are designed to scale up what's possible from day one onwards, from factory floors to entire cities. The summit will bring together a senior speaker line-up from leading industrial organizations, including: * Jonathan Alexander, Global Manufacturing AI & Advanced Analytics Manager at Albemarle * Prathibha Prabakaran, Enterprise Data and AI Architecture and Strategy at Amtrak * Mauro Rossi, Senior Reliability Engineer at Anglo American * Lisa Williams, Senior Director, Operations Talent Strategy and Employee Experience at Dow * Tanushri Jain, Key Account Director, Joint Venture Operations at Dow * Dr. Sumesh Arora, Program Manager - Workforce Strategies at Entergy * Srinivas Pradeep, AI Leader at Glencore * Vino Kingston, Enterprise Data & AI Transformation Leader at Lockheed Martin * Daniel Byrne, formerly Senior Director, Digital Transformation, at Marathon Petroleum * Nena Fremin, M&E IT Senior Manager - Manufacturing, Maintenance and Reliability Applications at Olin * Sam Fellows, Vice President of Direct Store Delivery at Rich Products Corporation Alongside the practitioner line-up, Verdantix analysts will present findings from its year-long Industrial Agility research programme, including benchmark data on where industrial organizations are currently seeing returns on their AI investments - and where they are not. Delegates at the conference will have direct access to Verdantix analysts across the day for one-to-one briefings on their own operational and transformation priorities. "Industrial leaders are under pressure to move AI initiatives from the pilot stage and demonstrate measurable impact - from predicting maintenance needs before failures occur and reducing downtime, to improving asset performance as well as operational efficiency and enabling faster, more informed decisions," said Malavika Tohani, Research Director at Verdantix. "To do that with confidence and create measurable value, leaders need independent, real-world examples they can trust, and that is what Transform Industrial Agility 2027 will deliver. Industrial buyers are actively looking for hard evidence of what works before they commit budget. We are delighted to have Octave on board as title sponsor, which demonstrates their commitment to sharing insights and best practices across the industrial community, and to helping organizations turn data and intelligence into measurable operational outcomes." Jay Allardyce, Chief Product Officer at Octave, said: "Industrial organizations are being asked to run more complex assets with fewer experienced people, and to do it with less margin for error. At Octave, we believe the measure that matters is operational - fewer unplanned outages, projects that land on schedule, decisions that hold up under scrutiny. Technology earns its place when it changes those numbers." "We are proud to support the inaugural Transform Industrial Agility Summit as title sponsor, bringing together the leaders accountable for those outcomes to share what has actually worked, challenge conventional thinking and set a higher bar for what industrial performance looks like - leveraging the power of AI." Software vendors and service firms are invited to explore remaining sponsorship opportunities for the Industrial Agility Summit. Senior practitioners can register for a complimentary ticket to attend or propose to speak, sharing perspectives on operational challenges and transformation strategies. For sponsorship enquiries, please contact Savva Ermoyenous, Account Director at [email protected]. Media contact. Olivia Russell Senior Marketing Manager
Are Phillips 66 (PSX) and Marathon Petroleum Corporation (MPC) still attractive after the $180 billion deal collapse? Published on August 20, 2026 at 6:43 pm by laiba immad in hedge funds, news. Reports surfaced on August 14that refining giants Phillips 66 (NYSE:PSX) and Marathon Petroleum Corporation (NYSE:MPC) held preliminary talks earlier this year regarding a potential $180 billion mega-merger. The deal ultimately collapsed, largely due to regulatory hurdles; combining the two entities would have concentrated roughly 25% of U.S. refining capacity under one roof, triggering intense antitrust scrutiny. With sources indicating talks are unlikely to resume anytime soon, investors are left evaluating how each company performs independently in a volatile energy market. Q2 2026 financial benchmark: strong execution across the board. Both refining juggernauts delivered powerhouse operational and financial metrics in the second quarter of 2026, benefiting from expanding crack spreads and robust demand. Phillips 66 (NYSE:PSX) posted reported earnings of $3.8 billion ($9.55 per share) and adjusted earnings of $3.8 billion ($9.41 per share), a steep sequential recovery from Q1. Operating cash flow reached $7.25 billion, enabling the company to aggressively pay down $6.6 billion in total debt, reducing net debt to $16.5 billion, while returning $887 million to shareholders via dividends and share buybacks. Operationally, PSX achieved 96% refining utilization, $24.08/bbl in realized refining margins, and record volumes in its Midstream NGL fractionation and LPG export businesses. Marathon Petroleum Corporation (NYSE:MPC) delivered an equally formidable quarter, generating $5.1 billion in net income attributable to MPC, or $17.73 per diluted share, and $8.5 billion in adjusted EBITDA. MPC's Refining & Marketing segment generated $6.66 billion in adjusted EBITDA, supported by strong refining margins of $36.33 per barrel and 94% crude capacity utilization. Leveraging its robust cash balance of $7.8 billion, MPC returned over $2.8 billion to shareholders during the quarter alone. When comparing raw earnings and capital returns, Marathon Petroleum outpaced Phillips 66 in top-line net profit ($5.1 billion vs. $3.8 billion) and per-barrel refining margins ($36.33 vs. $24.08). However, Phillips 66 demonstrated superior debt reduction and operational diversification across its midstream, chemicals, and renewable fuel segments. Bull and bear cases. Phillips 66's bull case is supported by its diversified portfolio beyond traditional refining, including chemicals through CPChem and expanding midstream assets such as the Zeus Gas Plant and Dos Picos II. The company's focus on strengthening its balance sheet, including billions of dollars in debt reduction during a single quarter, provides greater financial resilience, while its renewable fuels business has returned to profitability. However, the bear case is that prioritizing debt reduction limits the company's near-term share repurchase capacity compared with peers. Additionally, lower per-barrel refining margins relative to Marathon Petroleum make Phillips 66 less directly leveraged to short-term increases in refining crack spreads. Marathon Petroleum's bull case centers on its strong cash-generation capabilities and industry-leading refining margins of $36.33 per barrel. Its aggressive shareholder return strategy, supported by $6.1 billion in remaining share repurchase authorization, provides significant capital-return potential. High-return yield-enhancement projects at El Paso and Robinson, combined with steady growth from midstream subsidiary MPLX, further strengthen the long-term outlook. On the downside, Marathon's heavy reliance on refining makes it more vulnerable to regional margin compression, unplanned operational downtime, and rising costs. Operating costs increased to $5.72 per barrel in Q2, partly due to planned refinery turnarounds, creating additional pressure on near-term profitability. Insider Monkey's hedge fund data analysis. Insider Monkey's hedge fund database reveals shifting institutional interest in both refining stocks heading into 2026. Phillips 66 saw a slight decline in hedge fund ownership, held by 61 funds in Q4 2025 before settling at 64 funds in Q1 2026. High-profile positions include Paul Singer's Elliott Management, holding 19.25 million shares ($3.25 billion, representing 14.36% of its portfolio), and Cliff Asness's AQR Capital Management, which increased its stake by 33% to 4.49 million shares ($758.95 million). Marathon Petroleum experienced a drop in hedge fund conviction, moving from 64 fund holdings in Q4 2025 down to 54 funds in Q1 2026. Despite the net exit of some funds, top managers added aggressively: Cliff Asness's AQR Capital Management expanded its position by 92% to 828,334 shares ($211.78 million), while Maxime Fortin's Squarepoint Ops increased its holding by 50% to 554,045 shares ($141.65 million). Conclusion: what investors should watch next. While a combination between PSX and MPC would have created an unmatched refining empire, antitrust realities mean investors must trade them on their individual merits. Moving forward, investors should closely track refining crack spreads, domestic fuel demand, and how management teams allocate excess cash. For Phillips 66 (NYSE:PSX), monitor whether its massive debt reduction translates into accelerated stock buybacks in future quarters. For Marathon Petroleum Corporation (NYSE:MPC), watch whether it can sustain its premium margin capture while maintaining its aggressive capital return cadence. While we acknowledge the risk and potential of PSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PSX and that has 10,000% upside potential, check out our report about this cheapest AI stock.