Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. [17], On April 30, 2018, Marathon agreed to buy Andeavor, an independent refinery and oil company based in the Western United States, for $23 billion. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict and many of which are beyond our control. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. You can identify our forward-looking statements by words such as "anticipate," "believe," "budget," "commitment," "design," "estimate," "expect," "focus," "forecast," "forward," "goal," "guidance," "imply," "intend," "look," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "project," "projection," "proposition," "prospective," "pursue," "schedule," "seek," "strategy," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. 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. Add alert for MPC Ticker: MPC; CUSIP Number: … We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. Ms. Mannen holds a bachelor's degree in accounting and a master of business administration degree from Rider University. From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. They are Marathon gas stations in the sense the corporation owns them. 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. Funds that own Marathon Oil Corporation also own: Comcast Corporation (CMCSA) NVIDIA … FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25.Ms. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. The … Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. [4]. 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. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Marathon Pipe Line LLC (MPL) is headquartered in Findlay, Ohio, and is a subsidiary of MPLX LP, a diversified, growth-oriented master limited partnership formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. 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. "I'm excited for the perspective and business insights Maryann will add to our executive team, as we work together to continue strengthening our financial and competitive positions.". In 2005, the company became a 100% owned subsidiary of Marathon Oil. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. The company operates the nation's largest refining system. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. Marathon Petroleum Corporation (NYSE: MPC) today (Jan 13) announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25.Ms. Ms. Mannen will succeed retiring CFO Donald C. Templin. Under pressure from activist investors, Marathon … In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. Marathon Petroleum last fall revealed plans to separate its Speedway unit as part of an effort to appease activist investors including Elliott Management and D.E. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] [11], 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. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the … For consumers, the stations represent Speedway gas. Stay up to date with Marathon Petroleum stock news. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations in one of the biggest acquisitions in the world since the coronavirus pandemic hit this year. Industry. [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. The company operates the nation's largest refining system. Marathon Petroleum is an independent refiner with 14 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.8 million barrels per day. What company owns Marathon Oil? Marathon Oil (NYSE:MRO) became two companies June 30 when the refining and marketing assets of the business, commonly referred to as downstream, were spun off into Marathon Petroleum … What company owns Marathon Oil? MPC's marketing system includes branded locations across the United States , including Marathon … Find the latest Institutional Holdings data for Marathon Petroleum Corporation Common Stock (MPC) at Nasdaq.com. 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 … MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. Marathon Petroleum Corporation (MPC) is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day in its six-refinery system. Marathon Petroleum, which owns and operates roughly 4,000 convenience stores in the U.S. largely under the Speedway brand, last fall said it planned to … The company operates the nation's largest refining system. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. It also has long … Who owns Marathon Oil Corporation? Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. Marathon Petroleum is an independent refiner with 14 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.8 million barrels per day. Type Public . Invest in Marathon Petroleum stock and others with any dollar amount. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … As of December 31, 2015, the company had 2.163 billion barrels of oil equivalent (1.323×10 GJ) of estimated proven reserves, of which 44% was in the United States, 32% was in Canada, 12% was in Equatorial Guinea, and 11% was in other countries in Africa, primarily Libya. Add alert for MRO Ticker: MRO; CUSIP Number: 565849106; Top investors of Marathon Oil Corporation stock. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. From 2011 to 2017, she was Chief Financial Officer at FMC Technologies, prior to its merger with Technip SA, which Ms. Mannen played a key role in negotiating and executing. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Type Public . In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we have included in MPC's Form 10-K for the year ended Dec. 31, 2019, Forms 10-Q and other SEC filings, cautionary language identifying important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. [10], 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. Each company owns 50% of PTC. The company operates the nation's largest refining system. Cullen Frost Bankers Inc. lifted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The company operates the nation's largest refining system. The company operates the nation's largest refining system. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Buy Marathon Petroleum stock (MPC). Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25.Ms. [20] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. Marathon will close the Martinez Refinery and the Gallup Refinery in 2020. This merger brings the SuperAmerica convenience stores back to Speedway. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. Marathon Petroleum General Information Description. More information is available at www.marathonpetroleum.com. Announces Successful Completion Of Andeavor Combination, Creating The Leading US Refining, Midstream And Marketing Company, "Fortune 500 Companies 2018: Who Made the List", Marathon Petroleum Won’t Restart Two Idled Oil Refineries, https://www.cspdailynews.com/company-news/ranking-top-40-c-store-chains-2019-update#page=3, Marathon Petroleum 2015 Form 10-K Annual Report, "Marathon Signs Definitive Agreements With ACON Investments and TPG Capital For Sale Of Minnesota Downstream Assets", "Gas station operator converting 18 to Marathon brand", "Purchase of BP's Texas City Refinery and Related Assets Closes", "Purchase of Hess' Retail Operations and Related Assets Closes", "Marathon Petroleum sued in Texas court over Jan. 11 refinery fire: lawyers", "Marathon Petroleum to pay 86 million to settle Texas fire lawsuits", "Marathon Petroleum Corporation - Investor Relations - News Release", "Marathon-Andeavor merger checks the boxes where it counts: Texas, Mexico and the high seas", http://ir.marathonpetroleum.com/file/Index?KeyFile=395197014, http://ir.marathonpetroleum.com/file/Index?KeyFile=400741555, http://ir.marathonpetroleum.com/file/Index?KeyFile=400742219, "Marathon Petroleum to Sell Gas-Station Chain to 7-Eleven Owners for $21 Billion", "Marathon Petroleum Revenue 2010-2019 | MPC", https://en.wikipedia.org/w/index.php?title=Marathon_Petroleum&oldid=994727944, Non-renewable resource companies established in 1998, Companies listed on the New York Stock Exchange, Pages with non-numeric formatnum arguments, Articles with dead external links from March 2020, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, Total rated crude oil refining capacity - 3,067,000 BPCD (2020), 3,900 company-owned and operated convenience stores, Leasehold or ownership interests in approximately 8,400 miles (13,500 km) of, A 20.4% interest, including a controlling 2%. The company operates the nation's largest refining system. This page was last edited on 17 December 2020, at 06:43. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the … Is Marathon gas owned by BP? Gary Heminger, the longtime CEO of Marathon Petroleum, who spun the company out of Marathon Oil in 2012 and will lead the combined companies, has shares worth about $230 million. About Marathon Petroleum CorporationMarathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. Marathon Petroleum also has announced the unanimous decision of its board to maintain its current midstream structure, with the company retaining the general partner of MPLX LP, which owns and operates gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. Is Marathon gas owned by BP? MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. Who owns Marathon Petroleum Corp? Marathon Petroleum is an independent refiner with 16 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Marathon Petroleum. [18][19] On October 1, 2018, the merger was completed. The stores are owned and operated by the corporation, selling Marathon gas under the Speedway name. She is a member of the Owens Corning board of directors and has served as the audit committee chair since 2019. Findlay, Ohio-based Marathon Petroleum operates 16 refineries and a marketing system that includes about 7,800 branded U.S. locations, including about 5,600 Marathon retail outlets. See Marathon Petroleum real time stock price, historical quotes and price charts. [10], In 2006, Marathon began using STP-branded additives in its gasoline. Ohio-based Marathon Petroleum Corp. owns the Speedway gas station chain. Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. Cullen Frost Bankers Inc. lifted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. Type. These forward-looking statements relate to, among other things, expectations, estimates and projections concerning the business and operations, strategy and value creation plans of MPC. Marathon Petroleum (NYSE: MPC), a refiner and operator of the Marathon and Arco brand gas stations, said Mannen has nearly a decade of experience … France raises food sovereignty concern about Couche-Tard's $20 billion offer for Carrefour, https://www.marathonpetroleum.com/Investors/, http://www.prnewswire.com/news-releases/marathon-petroleum-corp-names-maryann-t--mannen-as-chief-financial-officer-301207086.html. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. (Exxon would offset its Pittsburgh losses by taking over the retail contracts of several Shell stations in the area, leaving Shell with a significantly reduced presence, while the Mobil brand was withdrawn from the Northern Panhandle of West Virginia altogether.) Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. 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. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. 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