Marathon Petroleum, which owns the refinery along the Big Sandy River near Catlettsburg, Ky., saw improved profits in the first quarter as it processed more crude oil at its refineries.
Sometimes annual reports issued by publicly traded companies to their stockholders contain bits of information that people in communities where they operate might find interesting. Here are three that could be of interest to Tri-State residents.
A CSX hydrogen fuel cell locomotive, manufactured at the Locomotive Shop in Huntington is shown in this undated photo.
Submitted photo
CSX
The hydrogen-powered locomotive built in Huntington last year received attention in CSX Corp.ÈËÑýÉ«Ç鯬™s annual report this week.
ÈËÑýÉ«Ç鯬œCSXÈËÑýÉ«Ç鯬™s innovation initiatives have extended into alternative fuels and next-generation locomotives,ÈËÑýÉ«Ç鯬 the annual report said. ÈËÑýÉ«Ç鯬œBuilding on a successful pilot of B20 biodiesel with Wabtec, the company unveiled its first hydrogen fuel cell locomotive, manufactured at its Locomotive Shop in Huntington, WV. Battery powered and hydrogen-based locomotives are now being tested for operational viability, demonstrating CSXÈËÑýÉ«Ç鯬™s pursuit of zero-emissions rail solutions. These efforts are complemented by investments in employee training to foster a workforce skilled in advancing sustainable technologies.ÈËÑýÉ«Ç鯬
The locomotive was converted from an existing diesel locomotive using a hydrogen conversion kit developed by Canadian Pacific Kansas City. It was built less than 12 months after the collaboration between CSX and CPKC was announced in the summer of 2023.
CSXÈËÑýÉ«Ç鯬™s annual report also discussed the coal-hauling operations.
ÈËÑýÉ«Ç鯬œThe coal business shipped 736 thousand carloads (12% of volume) and generated $2.2 billion in revenue (15% of revenue) in 2024. The Company transports domestic coal, coke and iron ore to electricity-generating power plants, steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Most of the export coal the Company transports is used for steelmaking, while the majority of domestic coal the Company ships is used for electricity generation,ÈËÑýÉ«Ç鯬 the annual report said.
Production employee Todd Drown processes bulb flats at Steel of West Virginia on Thursday, June 17, 2021, in Huntington.
Sholten Singer | The Herald-Dispatch file photo
Steel of West Virginia
The steel industry had problems last year, and Huntington-based Steel of West Virginia was no exception.
Steel of West Virginia saw a drop in production volumes last year as did other facilities in parent company Steel DynamicsÈËÑýÉ«Ç鯬™ long products operations, according to information in Steel DynamicsÈËÑýÉ«Ç鯬™ annual report to shareholders. Steel of West Virginia shipped 321,647 tons of product, down from 378,515 tons in 2023 and 363,832 tons in 2022.
Steel of West VirginiaÈËÑýÉ«Ç鯬™s customers are primarily original equipment manufacturers, producing solar panel structures, truck trailers, industrial lift trucks, merchant products, guardrail posts, manufactured housing, mining, and off-highway construction equipment, according to the annual report.
ÈËÑýÉ«Ç鯬œSteel of West VirginiaÈËÑýÉ«Ç鯬™s flexible manufacturing capabilities enable us to meet demand for a variety of custom-ordered and designed products. Many of these products are produced in small quantities for low volume end-uses resulting in a wide variety of customers, the largest of which are in the truck trailer and industrial lift truck industries,ÈËÑýÉ«Ç鯬 the report said.
Marathon Petroleum, which owns the refinery along the Big Sandy River near Catlettsburg, Ky., saw improved profits in the first quarter as it processed more crude oil at its refineries.
Courtesy of Marathon Petroleum
Marathon Petroleum
About a third of the crude oil refined by Marathon Petroleum comes from Canada and other foreign sources, and White House talk of tariffs concerns the company.
ÈËÑýÉ«Ç鯬œIn early 2025, the new U.S. presidential administration announced broad-based tariffs on goods imported from certain countries where we purchase feedstocks, including a ten percent tariff on energy resources such as crude oil, natural gas and NGLs imported from Canada,ÈËÑýÉ«Ç鯬 Marathon PetroleumÈËÑýÉ«Ç鯬™s annual report says.
ÈËÑýÉ«Ç鯬œSome of these tariffs have been stayed for brief periods of at least 30 days. If the provisions of those tariffs are maintained as proposed, we would expect added market volatility, with the longer term impacts to our refining and marketing margin uncertain. In addition, retaliatory tariffs imposed by other countries or other potential government actions, would likely result in further adverse impacts.ÈËÑýÉ«Ç鯬
Over the past three years, domestic sources provided about two-thirds of MarathonÈËÑýÉ«Ç鯬™s crude oil. About 19% to 22% came from Canada, with other nations supplying the remainder.
MarathonÈËÑýÉ«Ç鯬™s refinery at Catlettsburg, Kentucky, is the fourth-largest of the companyÈËÑýÉ«Ç鯬™s 14 refineries in terms of refining capacity, according to the annual report. The Catlettsburg refinery processes sweet and sour crude oils, including production from the nearby Utica Shale, into gasoline, distillates, asphalt, natural gas liquids and petrochemicals, propane and heavy fuel oil. The report does not say how much crude oil the refinery receives from domestic or foreign sources.
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