Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Service Company, Marathon Canadian Oil Sands [14], 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. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. 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. Thermal cracking gave way to the new process of catalytic “cat” cracking, increasing refinery yield. Marathon will acquire all of Andeavor's outstanding shares. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. We also have international operations in Equatorial Guinea. Holding Limited. Copyright © 2020 RPCD Holdings LLC. 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's marketing system includes branded locations across the United States, including Marathon branded outlets. 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. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Included in the acquisition were 10 refineries: Anacortes (Washington), Dickinson (North Dakota), El Paso (Texas), Gallup (New Mexico), Kenai (Alaska), Los Angeles (California), Mandan (North Dakota), Martinez (California), Salt Lake City (Utah) and St. Paul Park (Minnesota), approximately 3,300 retail stations and the general partner of Andeavor Logistics. 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=981147162, 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%. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. [11], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. [9], 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. MPC formed MPLX LP, a midstream master limited partnership. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. The Ohio Oil Company officially changed its corporate name to Marathon Oil Company in conjunction with the company’s 75th anniversary. [12], 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. The Supreme Court broke up the Standard Oil trust. 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. [8] In 1889, it was purchased by John D. Rockefeller's Standard Oil. [20][21], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. (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.) 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. All Rights Reserved. Lincoln Oil Refining Company was purchased, which included the Robinson refinery in Illinois and 17 Linco brand service stations in Robinson and Terre Haute, Indiana. It included the Marathon product name, the Pheidippides Greek runner trademark, and the “Best in the Long Run” slogan. [11], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. [19] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. MPC purchased the Cincinnati biodiesel facility. See insights on Marathon Oil including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. The Aurora Gasoline Company was purchased. A $3.2 billion major expansion project at the Garyville refinery was completed. [19] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. The acquisition included 1,256 stores in 16 states. The company operates the nation’s largest refining system with more than 3 million barrels per day of crude oil capacity across 16 refineries. On July 1, 2011, Marathon Petroleum Corporation (MPC) became a stand-alone refining, marketing and transportation company, headquartered in Findlay, Ohio. 1962. MPLX completed construction of the Cornerstone Pipeline in 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 Oil is incorporated in Ohio. Marathon Oil is an independent exploration and production (E&P) company based in Houston. [10], 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. [12], 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. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.[3]. The Ohio Oil Company was the first to introduce the metal credit plate, the precursor to the credit card, to build loyalty. Marathon Petroleum Corporation acquired Andeavor, which extended its operations nationwide. [15] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. [9], In 2006, Marathon began using STP-branded additives in its gasoline. Corporate headquarters were moved to Findlay, Ohio. Emro was first recognized as Convenience Store Chain of the Year. The Pheidippides trademark ended its 31-year run. [16], On April 30, 2018, Marathon agreed to buy Andeavor, an independent refinery and oil company based in the Western United States, for $23 billion. [2] Marathon Petroleum ranked No. 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 1889, it was purchased by John D. Rockefeller's Standard Oil. Ohio Oil was again an independent company. Emro Marketing Company and Super America Group merged to form Speedway SuperAmerica LLC. Ohio Oil Company’s stock was publicly traded on the New York Stock Exchange for the first time. 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.

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