Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corporation (MPC) is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day in its six-refinery system. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. Marathon Oil (NYSE:MRO) became two companies June 30 when the refining and marketing assets of the business, commonly referred to as downstream, were spun off into Marathon Petroleum … Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. The company operates the nation's largest refining system. More information is available at www.marathonpetroleum.com. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. The company operates the nation's largest refining system. Cullen Frost Bankers Inc. lifted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. The company operates the nation's largest refining system. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. Add alert for MPC Ticker: MPC; CUSIP Number: … In 2005, the company became a 100% owned subsidiary of Marathon Oil. As of December 31, 2015, the company had 2.163 billion barrels of oil equivalent (1.323×10 GJ) of estimated proven reserves, of which 44% was in the United States, 32% was in Canada, 12% was in Equatorial Guinea, and 11% was in other countries in Africa, primarily Libya. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. Mannen will succeed retiring CFO Donald C. Templin. 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. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. Marathon Oil and Ashland Inc. formed a joint venture named Marathon Ashland Petroleum LLC, which added refineries in Catlettsburg (Kentucky), Canton (Ohio) and St. Paul Park (Minnesota) as well as a private inland barge fleet. Who bought or sold Marathon Oil Corporation this quarter? From 2011 to 2017, she was Chief Financial Officer at FMC Technologies, prior to its merger with Technip SA, which Ms. Mannen played a key role in negotiating and executing. Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. MPC's marketing system includes branded locations across the United States , including Marathon … The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. 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 General Information Description. Each company owns 50% of PTC. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. [11], 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. The retail network will become an independent company by year-end 2020. [12], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. Under pressure from activist investors, Marathon … The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. Invest in Marathon Petroleum stock and others with any dollar amount. Marathon Petroleum to spin off Speedway stations and find a new CEO . Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 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 … Marathon Petroleum is preparing to spin off its gas-station chain and considering shaking up its executive leadership to appease activist shareholders, according to people familiar with the matter. Marathon Petroleum, which owns and operates roughly 4,000 convenience stores in the U.S. largely under the Speedway brand, last fall said it planned to … In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Buy Marathon Petroleum stock (MPC). (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.) FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. Marathon Oil, the company's former parent, dates back to 1887 when several small oil companies in Ohio banded together to form The Ohio Oil Company. [23], (Non-Executive Chairman of the Board of Directors), Post-corporate spin-off from Marathon Oil, 2018 acquisition of Andeavor, sale of Speedway LLC, "Marathon Petroleum Corporation 2017 Annual Report (Form 10-K)", Marathon Petroleum Corp. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the … Ms. Mannen will succeed retiring CFO Donald C. Templin. Is Marathon gas owned by BP? Marathon Petroleum has received a letter from two large shareholders calling for the ouster of the fuel maker’s chief executive. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Facebook; Twitter; WhatsApp; SMS; Email; Print; Save; 7-Eleven owner is buying Marathon Petroleum… David WetheBloomberg Thursday Oct 31, 2019 at 12:46 PM. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. Before that, she served as the company's Deputy Chief Financial Officer and Treasurer from 2010 to 2011 and Vice President of Administration from 2007 to 2010. Emro Marketing Company and Super America Group merged to form Speedway SuperAmerica LLC. 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. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … The company operates the nation's largest refining system. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict and many of which are beyond our control. Since 2017, Ms. Mannen has served as Executive Vice President and Chief Financial Officer of TechnipFMC, a leading global engineering services and energy technology company incorporated in the United Kingdom and headquartered in Paris and Houston, with listings on the NYSE and Euronext Paris. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25.Ms. The stores are owned and operated by the corporation, selling Marathon gas under the Speedway name. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). The company operates the nation's largest refining system. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Ohio-based Marathon Petroleum Corp. owns the Speedway gas station chain. Marathon Petroleum is an independent refiner with 16 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Marathon Petroleum General Information Description. She is a member of the Owens Corning board of directors and has served as the audit committee chair since 2019. Speedway LLC, a Marathon Petroleum subsidiary, owns … CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. [10], In 2006, Marathon began using STP-branded additives in its gasoline. This merger brings the SuperAmerica convenience stores back to Speedway. Type. You can identify our forward-looking statements by words such as "anticipate," "believe," "budget," "commitment," "design," "estimate," "expect," "focus," "forecast," "forward," "goal," "guidance," "imply," "intend," "look," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "project," "projection," "proposition," "prospective," "pursue," "schedule," "seek," "strategy," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. 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