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From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak. 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. 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. 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. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Findlay, Ohio-based Marathon owns and operates roughly 4,000 convenience stores in the U.S., largely under the Speedway brand. Is Marathon gas owned by BP? CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. 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. [17], On April 30, 2018, Marathon agreed to buy Andeavor, an independent refinery and oil company based in the Western United States, for $23 billion. In 2005, the company became a 100% owned subsidiary of Marathon Oil. This merger brings the SuperAmerica convenience stores back to Speedway. Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. [13], In 2013, Marathon purchased numerous assets from BP including a 451,000 barrel per day refinery in Texas City, Texas, four light product distribution terminals, and retail marketing contracts for 1,200 retail stations throughout the southeastern United States. 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. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. 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. Type Public . Ms. Mannen will succeed retiring CFO Donald C. Templin. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. 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. 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. Add alert for MRO Ticker: MRO; CUSIP Number: 565849106; Top investors of Marathon Oil Corporation stock. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. [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 company operates the nation's largest refining system. 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 … Speedway LLC, a Marathon Petroleum subsidiary, owns … 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. You might be interested: New york marathon 2016 results. The company said in October that current Chairman and CEO Gary Heminger will retire in April after 45 years with the company. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … [18][19] On October 1, 2018, the merger was completed. "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.". Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] 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. FINDLAY, Ohio — After a 10-month strategic review process, Marathon Petroleum Corp. (MPC) is spinning off Speedway LLC. The company operates the nation's largest refining system. [4]. 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. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … 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. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. 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. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. 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. Stay up to date with Marathon Petroleum stock news. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum General Information Description. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. 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. 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. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. Mannen will succeed retiring CFO Donald C. Templin. Most of Tri-State's stations before the deal were ExxonMobil-branded stations, the majority Exxon as well as a few scattered Mobil stations in the immediate Wheeling area. 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. The company operates the nation's largest refining system. [8], In June 2012, Wheeling, West Virginia-based Tri-State Petroleum signed a contract to switch 50 stations in Ohio, Pennsylvania, and West Virginia to the Marathon brand. [10], In 2006, Marathon began using STP-branded additives in its gasoline. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. [15], In 2016, a fire at the Galveston Bay refinery in Texas City, Texas, injured three contract workers, resulting in a lawsuit seeking $1 million in damages. The company operates the nation's largest refining system. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States , including Marathon … Find the latest Institutional Holdings data for Marathon Petroleum Corporation Common Stock (MPC) at Nasdaq.com. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations in one of the biggest acquisitions in the world since the coronavirus pandemic hit this year. 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. 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. Marathon Petroleum. 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 Corporation is engaged in refining, ... MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets. Each company owns 50% of PTC. 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. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Add alert for MPC Ticker: MPC; CUSIP Number: … Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. 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. 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. 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