Marathon Petroleum to pay $86 million to settle Texas fire lawsuits
(Reuters) - U.S. oil refiner Marathon Petroleum Corp said on Thursday it would pay $86 million to settle lawsuits that allege injuries due to a January 2016 fire at its Galveston Bay, Texas refinery.
The company recorded an $86 million charge in its second-quarter earnings statements as a result. On a per-share basis, the charge was about 10 cents.
The charge was higher than the $40 million or 5 cents per share Marathon last week said it would incur as a result of the expected settlement.
(Reporting by Anirban Paul in Bengaluru; Editing by Sai Sachin Ravikumar)
