Marathon Petroleum Corp

Description

Marathon Petroleum Corp is an energy company that is engaged in refining and midstream business.

The public company was founded in 1887 as The Ohio Oil Company. The firm went public in 1930 with the listing on New York Stock Exchange. Its stocks trade under the ticker ‘MPC’.

In 1960, Marathon Pipe Line was created as the firm’s subsidiary. Two years later, the firm rebranded itself as Marathon Oil Company. In 1977, it acquired Grayville refinery in Louisiana and several other businesses in the following decades.

Marathon Petroleum Corporation was formed as a standalone marketing, transportation, and refining publicly traded entity in 2011.

The energy company provides additional services, gas stations, and refining facilities.

Today, it claims to be the largest independent crude oil refining company in the United States. It is engaged in marketing, transportation, and refining of petroleum products. The oil and gas producer claims to promot inclusion and diversity, energy conservation, wildlife preservation and reduction of carbon emissions.

In March 2021, the energy firm announced its intent to convert the California-based Martinez refinery into a renewable fuel manufacturing facility.

The energy infrastructure company claims to have 13 refineries in 12 states of the US with an estimated processing capacity of 11 billion cubic feet/day.

It provides gas and fuel services under the brand, Marathon and Arco.

Marathon Petroleum Corp operates as an integrated petroleum refining firm that owns and operates a network of terminal, barges, and pipelines.

The transportation links and connects the refinery for shipping various intermediate products. The firm claims to optimize its operations by efficiently utilizing its processing capacity.

Under the midstream segment, the oil and gas company operates through its sponsored master limited partnership, MPLX.

The firm partnership transports, distributes, stores and markets refined products and crude oil via pipelines, towboats & barges, terminals, etc. In addition, it processes and transports logistics assets, natural gas, fractionates, natural gas liquids, crude oil, and various refined petrochemical products.

ARCO and Marathon gas stations are located across Northern Mexico and the United States. The firm also produces various industrial products such as asphalt, feedstock and petrochemicals.

The integrated refinery firm operates through various partners and subsidiaries, including Speedway, Super America, Western Refining, LOOP LLC, Virent Energy Systems Inc, Capline Pipeline Company LLC, Cantennial Pipeline LLC, MPC Investment LLC, and Tesoro Companies INC.