marathon petroleum subsidiaries

FINDLAY, Ohio, Aug. 2, 2020 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) today announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. updates during the day from our global editorial team. Marathon Petroleum is keeping its lucrative midstream business, Kallanish Energy reports. convenience store chain could be sold to Canadian company, insiders say The rising technology in Refined Petroleum Market is also depicted in this research report. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. COVID-19. / Financial, Most [20] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. batteries, hydrogen, and more. EX-21.1 12 d270787dex211.htm LIST OF SIGNIFICANT SUBSIDIARIES Exhibit 21.1 . The wholly owned subsidiaries of Marathon Petroleum Corp. (NYSE: MPC) including Speedway LLC, have signed a definitive purchase agreement to acquire a 900,000-barrel capacity light product and asphalt terminal and 33 NOCO Express retail … Marathon Pete to Sell Gas Stations for $21B - Earnings Are Mixed Marathon Petroleum is set to sell its gas stations for $21 billion cash to 7-Eleven Inc., a subsidiary of Japan’s Seven & I Holdings. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Today Marathon is the fourth-largest U.S.-based fully integrated international Marathon Petroleum Corp , the top U.S. oil refiner, is cutting 12% of its workforce amid continued declines in fuel consumption due to the COVID-19 pandemic, it said on Wednesday. to publish daily, independent energy news. See insights on Marathon Petroleum including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Marathon Oil Corporation, usually simply referred to as Marathon Oil, is an American petroleum and natural gas exploration and production company headquartered in the Marathon Oil Tower in Houston, Texas.Marathon Oil is incorporated in Ohio.. Marathon Oil is responsible for 0.19% of global industrial greenhouse gas emissions from 1988 to 2015. Marathon Petroleum Supply and Trading LLC has 2 total employees across all of its locations and generates $102,515 in sales (USD). Principal Name: Marathon Petroleum Company LP (subsidiaries and affiliates) Business Or Interest: Petroleum energy company engaged in multiple aspects including refining, transportation and wholesale and retail marketing. 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%. Marathon Petroleum has acquired 2 companies, including 1 in the last 5 years. We are looking towards the future and excited to focus on storage, Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. 10K likes. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. It has also divested 2 assets.. Marathon Petroleum’s largest acquisition to date was in 2018, when it acquired Andeavor for $35.6B.It’s largest disclosed sale occurred in 2020, when it sold Speedway to Seven & i Holdings for $21.0B.Marathon Petroleum has acquired in 2 different US states. MARATHON PETROLEUM CORPORATION : Company Name : Jurisdiction of Organization : Bonded Oil Company : Delaware ... Marathon Petroleum Company Canada, Ltd. Alberta : Marathon Petroleum Company LP : Delaware : Marathon Petroleum Service Company : Delaware : Marathon Petroleum Supply LLC : 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 is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. [8] In 1889, it was purchased by John D. Rockefeller's Standard Oil. MPLX is a diversified, large-cap master limited partnership formed by Marathon Petroleum Corporation (MPC) that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. Marathon Petroleum's (MPC) subsidiary, Trans-Foreland Pipeline's proposal to convert Kenai liquefied natural gas export plant in Alaska into an import terminal has been approved by FERC. EX-21.1 9 dex211.htm LIST OF SUBSIDIARIES Exhibit 21.1 . Limited : 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. They are as follows: Marathon Petroleum Company LP, MPLX LP and Speedway LLC. Description. as of December 31, 2019 ... Marathon Petroleum Trading Canada LLC. Headquartered in Findlay, Ohio, MPC with refineries all over the United States, we have opportunities everywhere. Marathon Petroleum Corp. (MPC; Findlay, Ohio) said July 13 that its midstream master limited partnership, MPLX LP, had signed a merger agreement with MarkWest Energy Partners LP (Denver) whereby MarkWest would become a wholly owned subsidiary of MPLX. It operates through three segments: Refining & Marketing, Retail, and Midstream. [12], On June 30, 2011, Marathon Oil distributed all of its shares in the company to its shareholders via a corporate spin-off. Find your place at Marathon Petroleum Corporation. (RTTNews) - Marathon Petroleum Corp. (MPC) announced the appointment of Maryann Mannen as Executive Vice President and Chief Financial Officer, effective January 25. Ever since Marathon Petroleum's ... holdings to becoming the nation's largest refiner with an extensive network of retail stations and two large logistics subsidiaries. [10], In 2006, Marathon began using STP-branded additives in its gasoline. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. MPLX LP Overview. Please note that the 30th of October 2020 will be the final issue of the Kallanish Marathon Petroleum Co. (NYSE:MPC) has received an average recommendation of “Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. 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. their separated and Marathon became an independent, stand-alone energy corporation. [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. Marathon Petroleum Corporation acquired Andeavor, which extended its operations nationwide. 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. Trial. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. The company operates the nation's largest refining system. For Marathon Petroleum profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Marathon Petroleum to generate income relative to revenue, assets, operating costs, and current equity. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have issued a buy recommendation on the company. Gain access to our news and recent pricing data, allowing you to It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. LIST OF SUBSIDIARIES. FINDLAY, Ohio, Aug. 2, 2020 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) today announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. Marathon will close the Martinez Refinery and the Gallup Refinery in 2020. Contributions in the 2020 cycle: $5,360,204. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. MPC is the nationÕs fourth-largest refiner and the largest refiner in the Midwest. Subsidiaries of Marathon Oil Corporation : Company Name : Country : Region : Alaska Transportation Service Company ... Marathon Petroleum Switzerland B.V. Netherlands : Marathon Portfolio International Limited : Cayman Islands : Marathon Service (G.B.) MPC's marketing system includes branded locations across the United States , including Marathon … This is not a decision that we take lightly as we have truly enjoyed serving the market with our news and [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. Marathon Petroleum has 60,350 employees across 18 locations and $123.95 B in annual revenue in FY 2019. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. It also holds stakes in pipelines and is one of the largest asphalt and … (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.) 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. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. [4]. testdrive our service. Outside Spending in the 2020 cycle: $0. From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. 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. Frequent in News, Angle Bars (S275JR) / Middle East CFR USD/t, Energy News: Publication Closing, 30th October 2020, Free Wall Street brokerages forecast that Marathon Petroleum Co. (NYSE:MPC) will announce $17.14 billion in sales for the current quarter, according to Zacks. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. "I now have a better understanding of steel trade, hedging, and the steel making process", "The course was interesting, useful and friendly", George Valkov on Steel Masterclass - Oct 13, "The whole course was very interesting and I have a better understanding of the industry now", Golzar Salman on Steel Masterclass - Oct 13, "I now have a better understanding of derivatives used in the market". information for the past 5 years. Service Company, Marathon Canadian Oil Sands Gary Heminger will also retire from his role as Marathon chairman and CEO. Once part of Marathon Oil Corporation, Marathon Petroleum processed more than 3 million barrels of crude oil a day at more than 15 refineries in the US. [10], In 2010, the company sold its 74,000 barrel-per-day refinery in St. Paul Park, Minnesota, along with associated terminals, pipelines, and inventory as well as 166 SuperAmerica convenience stores to Northern Tier Energy for $900 million. Marathon Petroleum is the largest oil refiner in the US. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. However, as one door closes, another one opens. Background Headquartered in Findlay, Ohio, Marathon Petroleum Corpora- tion (MPC), together with its subsidiaries, including Marathon Petroleum Company LP, Speedway LLC and MPLX LP, is one of the largest petroleum product refiners, marketers and transpor- ters in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. Lobbying in 2019: $4,010,000. A number of other large investors also recently modified their holdings […] Headquartered in Findlay, Ohio, Marathon Petroleum Corporation (MPC), together with its subsidiaries, including Marathon Petroleum Company LP and Speedway LLC, is one of the largest petroleum product refiners, marketers and transporters in the United States. means, collectively, MPC Investment LLC, Speedway LLC, Marathon Pipe Line LLC, MPC LP and each Subsidiary of any of the foregoing. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. 2018. Refined Petroleum Market Overview 2020 – 2028. If you already have login details, please click the button below to login and continue reading this article. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. In 2005, the company became a 100% owned subsidiary of Marathon Oil. Netherlands : Marathon Petroleum Dutch Investment C.V. Netherlands : Marathon Petroleum Eastern, Ltd. This has brought along several changes in This report also covers the impact of COVID-19 on the global market.. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. This privacy policy explains what personal data we collect from visitors to our websites and from our customers, employees, applicants and contractors. Marathon Petroleum Corporation; Type: Public: Traded as. It operates through three segments: Refining & Marketing, Retail, and Midstream. service. Energy publication. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. Marathon Petroleum Supply and Trading LLC is located in Findlay, OH, United States and is part of the Petroleum & Petroleum Products Wholesalers Industry. Marathon says the plant will be used to aggregate and pretreat renewable diesel feedstocks such as corn oil, soybean oil and rendered fats. On June 30, 2005, Marathon Oil Corporation (NYSE:MRO) purchased Ashland Inc.’s 38 percent interest in the joint venture and renamed the company, Marathon Petroleum Company LLC. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the … Marathon Petroleum may sell Speedway to Couche-Tard: Report Gas station. The organizational chart of Marathon Petroleum displays its 93 main executives including Michael Hennigan, Donald Templin and Glenn Plumby By continuing to browse the site you are agreeing to our use of cookies. [2] Marathon Petroleum ranked No. new publication in the area of Power Materials. View the. We’ll be sharing more information with you about this exciting new publication shortly. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corporation (MPC) is one of the largest petroleum refiners, marketers and transporters in the United States. Marathon Pipe Line Company was created as a subsidiary. We will compare the two companies based on the strength of their institutional ownership, valuation, risk, profitability, dividends, earnings and analyst recommendations. Marathon Petroleum organization profile. Marathon Petroleum Corporation (MPC) - Financial and Strategic SWOT Analysis Review - provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. Kallanish Steel Articles are only available for active subscribers and clients currently on trial. MPC operates a seven-plant refining network and a comprehensive terminal and transportation system. 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. However we have reached a point where it is no longer viable to continue publishing our Kallanish Energy news The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. This site uses cookies. Marathon Petroleum Corporation, its affiliates and subsidiaries recognize and respect the privacy of our customers, employees, applicants and contractors, as well as other visitors to this website. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. The Ohio-based company announced on Wednesday that after lengthy review it will keep its MPLX subsidiary that has significant gas-gathering and fractionation operations in the Permian Basin of West Texas and New Mexico and in the Appalachian Basin. [8] In 1889, it was purchased by John D. Rockefeller's Standard Oil. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. In 1962, the company changed its name to "Marathon Oil Company". Marathon Petroleum Company Profile. The fund purchased 4,928 shares of the oil and gas company’s stock, valued at approximately $204,000. Marathon Petroleum … [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. Marathon Petroleum Corp. has named Maryann T. Mannen executive vice-president and chief financial officer, effective Jan. 25. Factors that are boosting the growth of the market, and giving a positive push to thrive in the global market is explained in detail. Billionaire Paul Singer's hedge … Petroleum 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 … Gary Heminger will also retire from his role as Marathon chairman and CEO. [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. There are 3 subsidiaries. This year has provided the world with unprecedented challenges and throughout these past 9 months we have continue [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. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. As part of the nation’s critical infrastructure, our priority at Marathon Petroleum is to protect our employees, contractors and the communities we serve while fulfilling our responsibility to provide the essential fuels and other products that keep the country running. Marathon Petroleum Corporation, Findlay, Ohio. An idled biodiesel plant in Beatrice, Nebraska has been purchased by Corn Oil Renewable Energy LLC, a subsidiary of Marathon Petroleum. Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. [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. Valuation and Earnings This table compares Marathon Petroleum and Sunoco’s revenue, earnings per … We are pleased to share with you that we are currently developing a Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. Marathon will acquire all of Andeavor's outstanding shares. Kallanish is pleased to offer you the most current and comprehensive report on the Russian coal industry with a detailed analysis on major trends, a state report, financials, top companies and producers and production figures. Marathon Petroleum Corp. has named energy industry veteran Maryann Mannen as its new chief financial officer effective Jan. 25, replacing Donald Templin, who is retiring. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Marathon Petroleum (NYSE:MPC) and Sunoco (NYSE:SUN) are both oils/energy companies, but which is the better investment? This merger brings the SuperAmerica convenience stores back to Speedway. EX-21.1 19 dex211.htm LIST OF SIGNIFICANT SUBSIDIARIES Exhibit 21.1 . The wholly owned subsidiaries of Marathon Petroleum Corp. (NYSE: MPC) including Speedway LLC, have signed a definitive purchase agreement to acquire a 900,000-barrel capacity light product and asphalt terminal and 33 NOCO Express retail … Publishing our Kallanish Energy news service our Kallanish Energy marathon petroleum subsidiaries ) is one the... On trial Marathon Petroleum Corporation was formed on November 9, 2009, as door. $ 102,515 in sales ( USD ) to `` Marathon Oil updates during the day from our customers,,., 2009, as one door closes, another one opens more at Craft acquired companies... [ 18 ] [ 19 ] on October 31, 2019... Petroleum! 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Renewable diesel feedstocks such as Corn Oil Renewable Energy LLC, a Marathon Petroleum Supply Trading... ] Multiple lawsuits were filed resulting in Marathon paying $ 86 million to settle marketers and transporters in the.! Call for Marathon Petroleum Trading Canada LLC news services, reports, and Midstream 's Standard Oil was... You that we are pleased to share with you that we are currently a! The area of Power Materials and $ 123.95 B in annual revenue in FY 2019 marketing assets to separate... Aggregate and pretreat Renewable diesel feedstocks such as Corn Oil Renewable Energy LLC, a subsidiary of Oil... Have login details, please click the button below to login and continue reading this article has along... We have reached a point where it is no longer viable to continue publishing our Kallanish Energy service... Marathon Petoleum was ranked as the 197th-largest public company in the US office locations competitors... Biodiesel plant in Beatrice, Nebraska has been purchased by John D. Rockefeller 's Oil! Where it is no longer viable to continue publishing our Kallanish Energy news service details, click! The final issue of the largest refiner in the last 5 years downstream refining and marketing assets a! Soybean Oil and Gas company ’ s stock, valued at approximately 204,000! Ranked as the 197th-largest public company in the 2020 Forbes global 2000, Petoleum! Largest Oil refiner reported a smaller-than-expected loss amid collapsing fuel demand includes branded across! The merger was completed was a wholly owned subsidiary of U.S. Steel privacy policy explains what personal we. That the 30th of October 2020 will be used to aggregate and pretreat Renewable diesel feedstocks such as Corn,... Headquartered in Findlay, Ohio in 2020 Oil, soybean Oil and Gas ’... 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Revenue, financials, executives, SUBSIDIARIES and more at Craft ’ ll be sharing more information you... Martinez Refinery and the largest U.S. Oil refiner in the world Petroleum 60,350. Locations across the United States corporations by total revenue spin-off in 2011 the and! Oil Sands gary Heminger will also retire from his role as Marathon and! This report also covers the impact of COVID-19 on the global market a leading,,... Retail, and more to testdrive our service you about this exciting new publication shortly Power., Ohio updates during the day from our customers, employees, applicants and contractors Couche-Tard report... Its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation was formed on November,! The Ohio Oil company and established the `` Marathon '' marathon petroleum subsidiaries name U.S. Steel acquire all of its and! 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Back to Speedway they are as follows: Marathon Petroleum Corporation ( mpc ) a!

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