Marathon Petroleum
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 16 refineries and over 3 million barrels per day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company which owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.
Operations
The company owns:- 16 refineries with a total crude oil throughput of 2,913,900 barrels per calendar day :
| # | Name | Location | Throughput |
| 1 | Anacortes Refinery | Anacortes, Washington | 119,000 barrels per calendar day |
| 2 | Canton Refinery | Canton, Ohio | 93,000 barrels per calendar day |
| 3 | Catlettsburg Refinery | Catlettsburg, Kentucky | 277,000 barrels per calendar day |
| 4 | Detroit Refinery | Detroit, Michigan | 140,000 barrels per calendar day |
| 5 | Dickinson Refinery | Dickinson, North Dakota | 19,000 barrels per calendar day |
| 6 | El Paso Refinery | El Paso, Texas | 131,000 barrels per calendar day |
| 7 | Gallup Refinery | Gallup, New Mexico | 26,000 barrels per calendar day |
| 8 | Galveston Bay Refinery | Texas City, Texas | 585,000 barrels per calendar day |
| 9 | Garyville Refinery | Garyville, Louisiana | 564,000 barrels per calendar day |
| 10 | Kenai Refinery | Kenai, Alaska | 68,000 barrels per calendar day |
| 11 | Los Angeles Refinery | Wilmington, California | 363,000 barrels per calendar day |
| 12 | Mandan Refinery | Mandan, North Dakota | 71,000 barrels per calendar day |
| 13 | Martinez Refinery | Martinez, California | 161,000 barrels per calendar day |
| 14 | Robinson Refinery | Robinson, Illinois | 245,000 barrels per calendar day |
| 15 | Salt Lake City Refinery | Salt Lake City, Utah | 61,000 barrels per calendar day |
| 16 | St. Paul Refinery | St. Paul Park, Minnesota | 98,000 barrels per calendar day |
- The Speedway LLC retail chain, which includes approximately 4,000 retail outlets, is the second largest chain of company-owned and operated retail gasoline and convenience stores in the United States.
- Leasehold or ownership interests in approximately 8,400 miles of petroleum pipelines and 5,000 miles of natural gas and natural gas liquids pipelines as well as related transportation and distribution assets such as railcars, barges, and processing terminals.
- A 20.4% interest, including a controlling 2% general partner interest, in MPLX, a public master limited partnership that owns pipelines and other midstream assets related to the transportation and storage of crude oil.
History
Former parent company
, the company's former parent, dates back to 1887 when several small oil companies in Ohio banded together to form The Ohio Oil Company. In 1889, it was purchased by John D. Rockefeller's Standard Oil. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. In 1962, the company changed its name to "Marathon Oil Company". From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel.In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation.
Predecessor company
The predecessor company of Marathon Petroleum Corporation, Marathon Petroleum Company LLC, formerly known as Marathon Ashland Petroleum LLC, was formed by the merger of the refining operations of Marathon Oil and Ashland Inc. in 1998. In 2005, the company became a 100% owned subsidiary of Marathon Oil.In 2006, Marathon began using STP-branded additives in its gasoline.
In 2009, the company completed a $3.9 billion expansion of its refinery in Garyville, Louisiana, that increased the plant’s capacity by 180,000 barrels per day.
In 2010, the company sold its 74,000 barrel-per-day refinery in St. Paul Park, Minnesota, along with associated terminals, pipelines, and inventory as well as 166 SuperAmerica convenience stores to Northern Tier Energy for $900 million.
Post-corporate spin-off from Marathon Oil
On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off.In June 2012, Wheeling, West Virginia-based Tri-State Petroleum signed a contract to switch 50 stations in Ohio, Pennsylvania, and West Virginia to the Marathon brand. Most of Tri-State's stations before the deal were ExxonMobil-branded stations, the majority Exxon as well as a few scattered Mobil stations in the immediate Wheeling area. Included in the deal were 18 Exxon stations in the Pittsburgh metropolitan area, significantly boosting Marathon's presence in the Pittsburgh market, where former parent company U.S. Steel is based. Before the deal, Marathon had a much smaller presence in Western Pennsylvania, while having a somewhat larger presence in West Virginia and an almost ubiquitous presence in Southern Ohio.
In 2013, Marathon purchased numerous assets from BP including a 451,000 barrel per day refinery in Texas City, Texas, four light product distribution terminals, and retail marketing contracts for 1,200 retail stations throughout the southeastern United States.
In 2014, Speedway LLC, a subsidiary of the company, purchased the retail operations of Hess Corporation for $2.82 billion.