Marathon Petroleum Corporation is one of the largest petroleum refining, marketing, and midstream companies in the United States. The company was founded in 1887 as The Ohio Oil Company and has its headquarters in Findlay, Ohio. Marathon Petroleum operates in the downstream sector of the oil and gas industry, primarily engaged in refining crude oil and distributing refined petroleum products. Marathon Petroleum is listed on the New York Stock Exchange (NYSE) under the ticker symbol "MPC." It is a component of various stock market indices, including the S&P 500. The company's strong market presence and extensive refining and distribution infrastructure make it a key player in the U.S. petroleum industry.
The company's operations include a network of refineries located in various states, including Ohio, Michigan, Kentucky, Illinois, Louisiana, and Texas. These refineries have a combined capacity to process over 3 million barrels of crude oil per day, making Marathon Petroleum one of the leading refiners in the country.
Marathon Petroleum's downstream activities also involve the marketing and distribution of refined products. The company operates an extensive network of branded gas stations, convenience stores, and truck stops across the United States. Under various brands, such as Marathon, Speedway, and ARCO, Marathon Petroleum serves both retail and commercial customers, providing them with gasoline, diesel fuel, and other refined products.
In addition to its refining and marketing operations, Marathon Petroleum has a significant midstream segment. This includes transportation, storage, and wholesale marketing of crude oil and refined products. The company owns and operates an extensive pipeline network, terminals, and storage facilities, enabling the efficient movement and storage of petroleum products.
Over the years, Marathon Petroleum has grown through mergers and acquisitions, expanding its refining and marketing capabilities. The company has made strategic investments to enhance its operational efficiency and maintain its competitive position in the industry. Its ability to adapt to market changes and deliver reliable and high-quality petroleum products has contributed to its success and prominence in the U.S. energy sector.