The company operates the nation's largest refining system. Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. [10], In 2006, Marathon began using STP-branded additives in its gasoline. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. Prior to joining FMC Technologies in 1986, Ms. Mannen was Finance Manager for Sheller-Globe Corporation. Before the deal, Marathon had a much smaller presence in Western Pennsylvania, while having a somewhat larger presence in West Virginia and an almost ubiquitous presence in Southern Ohio. Stay up to date with Marathon Petroleum stock news. Type. The … The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. David WetheBloomberg Thursday Oct 31, 2019 at 12:46 PM. Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. What company owns Marathon Oil? Marathon Petroleum to spin off Speedway stations and find a new CEO . The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. 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 … [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. In 2005, the company became a 100% owned subsidiary of Marathon Oil. These forward-looking statements relate to, among other things, expectations, estimates and projections concerning the business and operations, strategy and value creation plans of MPC. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we have included in MPC's Form 10-K for the year ended Dec. 31, 2019, Forms 10-Q and other SEC filings, cautionary language identifying important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Marathon Petroleum is an independent refiner with 14 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.8 million barrels per day. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. Copies of MPC's Form 10-K, Forms 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office. 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. Marathon Petroleum last fall revealed plans to separate its Speedway unit as part of an effort to appease activist investors including Elliott Management and D.E. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. 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. [2] Marathon Petroleum ranked No. 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. In 1962, the company changed its name to "Marathon Oil Company". Buy Marathon Petroleum stock (MPC). Under pressure from activist investors, Marathon … 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. 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. 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. The company operates the nation's largest refining system. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Who owns Marathon Petroleum Corp? They are Marathon gas stations in the sense the corporation owns them. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann brings the financial acumen and strategic leadership experience critical for delivering our business transformation objectives, including strict capital discipline and overall expense management to lower our cost structure," said President and Chief Executive Officer Michael J. Hennigan. [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. 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. Marathon Petroleum. 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. You might be interested: New york marathon 2016 results. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. 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 … Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. "I'm excited for the perspective and business insights Maryann will add to our executive team, as we work together to continue strengthening our financial and competitive positions.". In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. What company owns Marathon Oil? Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. It also has long … [14], In 2014, Speedway LLC, a subsidiary of the company, purchased the retail operations of Hess Corporation for $2.82 billion. Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. [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. [20] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … [9] In 1889, it was purchased by John D. Rockefeller's Standard 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. FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. FINDLAY, Ohio, Nov. 11, 2020 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Donald C. Templin, executive vice president and chief financial officer, has elected to retire from the company, effective in January 2021.A nationwide search for the company's next CFO is ongoing. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Ms. Mannen holds a bachelor's degree in accounting and a master of business administration degree from Rider University. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Marathon Petroleum has received a letter from two large shareholders calling for the ouster of the fuel maker’s chief executive. 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. 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. [12], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. Gary Heminger will also retire from his role as Marathon chairman and CEO. Add alert for MPC Ticker: MPC; CUSIP Number: … Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. This page was last edited on 17 December 2020, at 06:43. The company operates the nation's largest refining system. Invest in Marathon Petroleum stock and others with any dollar amount. 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. Mannen will succeed retiring CFO Donald C. Templin. 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. 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. 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