Headquarters: Findlay, OH, United States
Founded: November 9, 2009
CEO: Mr. Michael J. Hennigan
USD as of July 1, 2023
Marathon Petroleum Corporation is a petroleum refining company. It operates in the refining, marketing, and transportation of petroleum products, petrochemicals, and gasoline marketed notably in Marathon branded outlets, as well as in its retail subsidiary Speedway LLC. Marathon Oil operates 16 refineries throughout the United States with more than 3 million barrels of crude oil capacity per day.
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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures aromatics, propane, propylene, and sulfur. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets; and through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. It also owns and operates crude oil, natural gas, and refined product pipelines. As of December 31, 2021, the company operated 7,159 brand jobber outlets in 37 states, the District of Columbia, and Mexico through independent entrepreneurs. Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.
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Marathon Petroleum Corporation has the following listings and related stock indices.
Petroleum Petrochemicals Gasoline, Pipeline transport Oil refining Marketing
Mike Hennigan (President and Chief Executive Officer) John P. Surma (Non- Executive Chairman of the Board of Directors)
Revenue: US$69.032 Billion (Fiscal Year Ended December 31, 2020)
Operating income: –US$12.247 Billion (Fiscal Year Ended December 31, 2020)
Net income: –US$9.977 Billion (Fiscal Year Ended December 31, 2020)
Total assets: US$85.158 Billion (Fiscal Year Ended December 31, 2020)
Total equity: US$29.252 Billion (Fiscal Year Ended December 31, 2020)