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Marathon Petroleum

Marathon Petroleum

Marathon Petroleum Corporation is a Findlay, Ohio-based company that provides oil refining, marketing, and pipeline transportation services.

OverviewStructured DataIssuesContributors

Contents

marathonpetroleum.com
Is a
Organization
Organization
Company
Company

Company attributes

Industry
Petroleum
Petroleum
Location
Findlay, Ohio
Findlay, Ohio
United States
United States
B2X
B2C
B2C
0
B2B
B2B
CEO
Michael J. Hennigan
Michael J. Hennigan
0
Pitchbook URL
pitchbook.com/profiles.../51441-04
Parent Organization
Marathon Oil Corporation
Marathon Oil Corporation
Subsidiary
MPLX
MPLX
ARCO
ARCO
Number of Employees (Ranges)
10,001+
Phone Number
+141942221210
Number of Employees
17,7000
Full Address
539 South Main Street Findlay, OH 458400
CIK Number
1,510,295
Place of Incorporation
Delaware
Delaware
DUNS Number
968393996
IRS Number
271,284,632
Founded Date
1887
0
Competitors
Marathon Oil Corporation
Marathon Oil Corporation
Valero Energy
Valero Energy
Stock Symbol
MPC
Exchange
New York Stock Exchange
New York Stock Exchange
Glassdoor ID
7657
Former CEO
Gary R. Heminger
Gary R. Heminger
NAICS Code
324,1100
Patents Assigned (Count)
40
Legal Entity Identifier
3BNYRYQHD39K4LCKQF120
Country
United States
United States
Headquarters
Findlay, Ohio
Findlay, Ohio

Other attributes

Block Explorer URL
marathonpetroleum.com
Company Operating Status
Active
Invested in
LF Bioenergy
LF Bioenergy
Public/Private
Public0
SIC Code
2,911
Ticker Symbol
MPC
Wikidata ID
Q458363

Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly-traded entity. In October 2018, Marathon Oil completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.

Marathon Petroleum operates in two segments: Refining and Marketing and Pipeline Transportation.

Refining and Marketing: The unit’s operations include 16 refineries, located in the West Coast, Gulf Coast and the Mid-Continent regions of the United States, having a combined crude processing capacity of more than 3 million barrels per day. Additionally, Marathon Petroleum – through its marketing organization – sells transportation fuels, asphalt and specialty products throughout the country to support commercial, industrial and retail operations. In 2021, the Refining & Marketing segment recorded a profit of $1 billion.

Midstream: This unit mainly reflects Marathon Petroleum’s general partner and majority limited partner interests in MPLX LP and Andeavor Logistics LP - publicly-traded master limited partnerships that own and operate gathering and processing assets along with crude transportation and logistics infrastructure. Marathon Petroleum owns 63.6% each of MPLX’s and ANDX’s common units. The 'Midstream' segment reported total earnings of $4.1 billion in 2021.

Last year, Marathon Petroleum sold its Speedway business to Japanese retail group Seven & i Holdings – owner of the 7-Eleven convenience store chain – for $21 billion.

As of Dec 31, the company had cash and cash equivalents of $5.3 billion and a total debt, including that of MPLX, of $25.5 billion.

In 2020 Marathon Petroleum had approximately 12,000 retail and marketing locations in North America, before selling Speedway to 7-Eleven in May 2021, which represented approx. 3,800 locations.

Key financial and operating data

2020
2019
2018

Convenience stores at period-end

3,839

3,898

3,923

Merchandise margin (in millions)

1,846

1,827

1,486

Merchandise sales (in millions)

6,384

6,305

5,232

Same store gasoline sales volume (period over period) (loss)

(20.0)%

(3.3)%

(1.5)%

Same store merchandise sales (period over period)

(0.2)%

5.4%

4.2%

Refined product sales volumes by product group (mbpd)

2020
2019
2018

Asphalt

86

93

70

Distillates

1,040

1,205

847

Feedstocks and petrochemicals

323

345

289

Gasoline

1,669

1,967

1,416

Heavy fuel oil

35

53

37

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

Marathon Petroleum Corporation success story | American petroleum refining company| Michael Hennigan

https://www.youtube.com/watch?v=HsPbQjOF82w

Web

February 21, 2021

MPC's Jacqui Schlachter: State of American Energy

https://www.youtube.com/watch?v=EhUqH2DP10s

Web

January 17, 2022

Watch: One-million-pound project completed at Robinson refinery

https://www.youtube.com/watch?v=G52RYVPl-dw

Web

December 6, 2021

References

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