About Marathon Petroleum CorporationMarathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 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. Facebook; Twitter; WhatsApp; SMS; Email; Print; Save; 7-Eleven owner is buying Marathon Petroleum… [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. 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. 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. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. The company operates the nation's largest refining system. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … Marathon will close the Martinez Refinery and the Gallup Refinery in 2020. David WetheBloomberg Thursday Oct 31, 2019 at 12:46 PM. [4]. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Marathon Petroleum is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, according to people familiar with the matter. [14], In 2014, Speedway LLC, a subsidiary of the company, purchased the retail operations of Hess Corporation for $2.82 billion. Industry. The company operates the nation's largest refining system. 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. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Type Public . 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. 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. Is Marathon gas owned by BP? The retail network will become an independent company by year-end 2020. She is a member of the Owens Corning board of directors and has served as the audit committee chair since 2019. They are Marathon gas stations in the sense the corporation owns them. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. What company owns Marathon Oil? Marathon Petroleum General Information Description. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. [8], 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. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. Marathon will acquire all of Andeavor's outstanding shares. 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. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the … The company operates the nation’s largest refining system. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. [18][19] On October 1, 2018, the merger was completed. [12], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. 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. [10], In 2006, Marathon began using STP-branded additives in its gasoline. Funds that own Marathon Oil Corporation also own: Comcast Corporation (CMCSA) NVIDIA … Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. 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. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. 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. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. 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. This page was last edited on 17 December 2020, at 06:43. Marathon Oil, 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 addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. The … The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. 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 … Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. Is Marathon gas owned by BP? The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. 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. Ms. Mannen will succeed retiring CFO Donald C. Templin. [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. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. Stay up to date with Marathon Petroleum stock news. Who owns Marathon Petroleum Corp? The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Add alert for MPC Ticker: MPC; CUSIP Number: … Marathon Petroleum has received a letter from two large shareholders calling for the ouster of the fuel maker’s chief executive. 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. What company owns Marathon Oil? In 1962, the company changed its name to "Marathon Oil Company". Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. For consumers, the stations represent Speedway gas. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. Type Public . Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. Marathon Petroleum (NYSE: MPC), a refiner and operator of the Marathon and Arco brand gas stations, said Mannen has nearly a decade of experience … Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] Marathon Petroleum. Who owns Marathon Oil Corporation? FINDLAY, Ohio — After a 10-month strategic review process, Marathon Petroleum Corp. (MPC) is spinning off Speedway LLC. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 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. 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 which owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. The company operates the nation's largest refining system. 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. Marathon Petroleum is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, according to people familiar with the matter. Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak. Speedway LLC, a Marathon Petroleum subsidiary, owns … [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. Invest in Marathon Petroleum stock and others with any dollar amount. Marathon 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 in one of the biggest acquisitions in the world since the coronavirus pandemic hit this year. Marathon Petroleum General Information Description. 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. 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. [13], 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. CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the … Findlay, Ohio-based Marathon owns and operates roughly 4,000 convenience stores in the U.S., largely under the Speedway brand. France raises food sovereignty concern about Couche-Tard's $20 billion offer .. MPLX's Proposed Sale of Javelina Fractionation Plant Marks 'Solid First Step'.. Under pressure from activist investors, Marathon … [2] Marathon Petroleum ranked No. 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. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. In 2005, the company became a 100% owned subsidiary of Marathon Oil. The company operates the nation's largest refining system. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. The company operates the nation's largest refining system. 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. 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 … [23], (Non-Executive Chairman of the Board of Directors), Post-corporate spin-off from Marathon Oil, 2018 acquisition of Andeavor, sale of Speedway LLC, "Marathon Petroleum Corporation 2017 Annual Report (Form 10-K)", Marathon Petroleum Corp. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … 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. It also has long … [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. 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. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. The company operates the nation's largest refining system. Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. The company said in October that current Chairman and CEO Gary Heminger will retire in April after 45 years with the company. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. Ohio-based Marathon Petroleum Corp. owns the Speedway gas station chain. 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. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. 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. See Marathon Petroleum real time stock price, historical quotes and price charts. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. Copies of MPC's Form 10-K, Forms 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office. Type. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 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. [15], In 2016, a fire at the Galveston Bay refinery in Texas City, Texas, injured three contract workers, resulting in a lawsuit seeking $1 million in damages. 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. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. This merger brings the SuperAmerica convenience stores back to Speedway. Marathon Oil and Ashland Inc. formed a joint venture named Marathon Ashland Petroleum LLC, which added refineries in Catlettsburg (Kentucky), Canton (Ohio) and St. Paul Park (Minnesota) as well as a private inland barge fleet. Mannen will succeed retiring CFO Donald C. Templin. Mannen will succeed retiring CFO Donald C. Templin. 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. MPC's marketing system includes branded locations across the United States , including Marathon … Since 2017, Ms. Mannen has served as Executive Vice President and Chief Financial Officer of TechnipFMC, a leading global engineering services and energy technology company incorporated in the United Kingdom and headquartered in Paris and Houston, with listings on the NYSE and Euronext Paris. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. Marathon Petroleum to spin off Speedway stations and find a new CEO . MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. 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%. : New york Marathon 2016 results the firm also owns and operates retail convenience.... 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