50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Marathon, Teamsters reach pay deal at Detroit refinery

Published 16/12/2024, 07:34 am
© Reuters. A Marathon sign is seen outside Marathon Petroleum (MPC.N) Detroit refinery in Detroit, Michigan U.S., September 9, 2024. REUTERS/Rebecca Cook
MPC
-

(Reuters) -Teamsters members working at Marathon Petroleum (NYSE:MPC)'s Detroit refinery have voted to ratify a seven-year collective bargaining agreement, the company and the union said on Sunday, three months after workers walked off the job.

"The process to safely welcome our employees back to the refinery is already in progress," the Findlay, Ohio-based company said.

Over 200 Teamsters at Marathon's Detroit refinery had called for the strike on Sept. 4 after months of pay and safety-related negotiations and mediations with the refiner yielded no results. Their previous contract expired in January this year.

© Reuters. A Marathon sign is seen outside Marathon Petroleum (MPC.N) Detroit refinery in Detroit, Michigan U.S., September 9, 2024. REUTERS/Rebecca Cook

Marathon representatives and Teamsters had several negotiating sessions under a federal mediator since workers went on strike.

The 140,000 barrel-per-day (bpd) Detroit refinery is one of Marathon's 13 refineries with approximately 2.9 million bpd of crude oil refining capacity.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.