More information is available at www.marathonpetroleum.com. The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. This page was last edited on 17 December 2020, at 06:43. [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. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Funds that own Marathon Oil Corporation also own: Comcast Corporation (CMCSA) NVIDIA … In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. 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. This merger brings the SuperAmerica convenience stores back to Speedway. Mannen will succeed retiring CFO Donald C. Templin. Marathon Petroleum also has announced the unanimous decision of its board to maintain its current midstream structure, with the company retaining the general partner of MPLX LP, which owns and operates gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. [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. [10], In 2006, Marathon began using STP-branded additives in its gasoline. Marathon Petroleum Corporation (NYSE: MPC) today (Jan 13) announced that Maryann T. Mannen will join the company as Executive Vice President and Chief Financial Officer effective January 25.Ms. Add alert for MRO Ticker: MRO; CUSIP Number: 565849106; Top investors of Marathon Oil Corporation stock. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. [18][19] On October 1, 2018, the merger was completed. It also has long … Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. FINDLAY, Ohio — After a 10-month strategic review process, Marathon Petroleum Corp. (MPC) is spinning off Speedway LLC. 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 … 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. Prior to joining FMC Technologies in 1986, Ms. Mannen was Finance Manager for Sheller-Globe Corporation. Ms. Mannen will succeed retiring CFO Donald C. Templin. 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 last fall revealed plans to separate its Speedway unit as part of an effort to appease activist investors including Elliott Management and D.E. David WetheBloomberg Thursday Oct 31, 2019 at 12:46 PM. 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. "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. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. [14], In 2014, Speedway LLC, a subsidiary of the company, purchased the retail operations of Hess Corporation for $2.82 billion. The company operates the nation's largest refining system. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. Findlay, Ohio-based Marathon Petroleum operates 16 refineries and a marketing system that includes about 7,800 branded U.S. locations, including about 5,600 Marathon retail outlets. The company operates the nation's largest refining system. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. 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. Type Public . 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. [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. Marathon will close the Martinez Refinery and the Gallup Refinery in 2020. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. Marathon Petroleum Corporation is engaged in refining, ... MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 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 brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. 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. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. 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 Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Industry. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. (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.) 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. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Invest in Marathon Petroleum stock and others with any dollar amount. 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 firm also owns and operates midstream assets primarily through its listed MLP, MPLX. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Ms. Mannen holds a bachelor's degree in accounting and a master of business administration degree from Rider University. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. 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. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Announces Successful Completion Of Andeavor Combination, Creating The Leading US Refining, Midstream And Marketing Company, "Fortune 500 Companies 2018: Who Made the List", Marathon Petroleum Won’t Restart Two Idled Oil Refineries, https://www.cspdailynews.com/company-news/ranking-top-40-c-store-chains-2019-update#page=3, Marathon Petroleum 2015 Form 10-K Annual Report, "Marathon Signs Definitive Agreements With ACON Investments and TPG Capital For Sale Of Minnesota Downstream Assets", "Gas station operator converting 18 to Marathon brand", "Purchase of BP's Texas City Refinery and Related Assets Closes", "Purchase of Hess' Retail Operations and Related Assets Closes", "Marathon Petroleum sued in Texas court over Jan. 11 refinery fire: lawyers", "Marathon Petroleum to pay 86 million to settle Texas fire lawsuits", "Marathon Petroleum Corporation - Investor Relations - News Release", "Marathon-Andeavor merger checks the boxes where it counts: Texas, Mexico and the high seas", http://ir.marathonpetroleum.com/file/Index?KeyFile=395197014, http://ir.marathonpetroleum.com/file/Index?KeyFile=400741555, http://ir.marathonpetroleum.com/file/Index?KeyFile=400742219, "Marathon Petroleum to Sell Gas-Station Chain to 7-Eleven Owners for $21 Billion", "Marathon Petroleum Revenue 2010-2019 | MPC", https://en.wikipedia.org/w/index.php?title=Marathon_Petroleum&oldid=994727944, Non-renewable resource companies established in 1998, Companies listed on the New York Stock Exchange, Pages with non-numeric formatnum arguments, Articles with dead external links from March 2020, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, Total rated crude oil refining capacity - 3,067,000 BPCD (2020), 3,900 company-owned and operated convenience stores, Leasehold or ownership interests in approximately 8,400 miles (13,500 km) of, A 20.4% interest, including a controlling 2%. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). Buy Marathon Petroleum stock (MPC). MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Mannen will succeed retiring CFO Donald C. Templin. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the … Type. Speedway LLC, a Marathon Petroleum subsidiary, owns … Who owns Marathon Petroleum Corp? 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. 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. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. 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. The predecessor company of Marathon Petroleum Corporation, Marathon Petroleum Company LLC, formerly known as Marathon Ashland Petroleum LLC, was formed by the merger of the refining operations of Marathon Oil and Ashland Inc. in 1998. [2] Marathon Petroleum ranked No. In 1962, the company changed its name to "Marathon Oil Company". "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 has received a letter from two large shareholders calling for the ouster of the fuel maker’s chief executive. The company operates the nation's largest refining system. 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. 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's marketing system includes branded locations across the United States, including Marathon branded outlets. France raises food sovereignty concern about Couche-Tard's $20 billion offer for Carrefour, https://www.marathonpetroleum.com/Investors/, http://www.prnewswire.com/news-releases/marathon-petroleum-corp-names-maryann-t--mannen-as-chief-financial-officer-301207086.html. 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. Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. The company operates the nation’s largest refining system. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. 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. Stay up to date with Marathon Petroleum stock news. About Marathon Petroleum CorporationMarathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company said in October that current Chairman and CEO Gary Heminger will retire in April after 45 years with the company. The stores are owned and operated by the corporation, selling Marathon gas under the Speedway name. [12], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. Each company owns 50% of PTC. The company operates the nation's largest refining system. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum to spin off Speedway stations and find a new CEO . Gary Heminger will also retire from his role as Marathon chairman and CEO. What company owns Marathon Oil? See Marathon Petroleum real time stock price, historical quotes and price charts. 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