The merger brought together several descendents of the Standard Oil trust, as Ashland had acquired several smaller Standard spinoffs while Marathon itself was directly owned by Standard Oil. 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. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. Seven & I Holdings, parent company of 7-Eleven, acquired the chain in 2020 and the sale was completed on May 14, 2021. The Speedway LLC retail chain included approximately 4,000 retail outlets, and was the second largest chain of company-owned and operated retail gasoline and convenience stores in the United States.Marathon closed the Gallup Refinery in 2020 and is expected to complete conversion of the Martinez Refinery to a renewable fuels manufacturing facility in 2023.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.
Leasehold or ownership interests in approximately 8,400 miles (13,500 km) of petroleum pipelines and 5,000 miles (8,050 km) of natural gas and natural gas liquids pipelines as well as related transportation and distribution assets such as railcars, barges, and processing terminals.16 refineries with a total crude oil throughput of 2,913,900 barrels per calendar day (bpcd):.2.4 2018 acquisition of Andeavor, sale of Speedway LLC.2.2 Post-corporate spin-off from Marathon Oil.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's marketing system includes branded locations across the United States, including Marathon branded outlets. In the 2020 Forbes Global 2000, Marathon Petroleum was ranked as the 197th-largest public company in the world. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.įollowing 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 Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio.
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