His retirement as chair, president and CEO was announced that last fall. This page was last edited on 30 September 2020, at 15:33. [13], In 2014, Speedway LLC, a subsidiary of the company, purchased the retail operations of Hess Corporation for $2.82 billion. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. His retirement as chair, president and CEO was announced that last fall. Netherlands : Marathon Petroleum Dutch Investment C.V. Netherlands : Marathon Petroleum Eastern, Ltd. Marathon Petroleum Corporation ended 2019 on a strong note. Marathon Petroleum has 60,350 employees across 17 locations and $123.95 B in annual revenue in FY 2019. In 2019, MPLX distributed $1.8 billion to the parent company. MPLX is a key operator of pipelines and gas-processing plants. EX-21.1 9 dex211.htm LIST OF SUBSIDIARIES Exhibit 21.1 . The Marathon Petroleum board of directors has unanimously decided that the company should remain the general partner of MPLX. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Such a divestment could have produced as much as $15 billion for Marathon Petroleum and helped reduce debt, according to analysts. About MPC. Limited : [19] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. 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. [9], 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. Gary Heminger will also retire from his role as Marathon chairman and CEO. 08/24/2020 Marathon Pipe Line LLC earns American Petroleum Institute Distinguished Pipeline Safety Award, 08/11/2020 MPLX LP prices $3 billion senior notes offering, 08/03/2020 MPLX LP Reports Second-Quarter 2020 Financial Results, 07/28/2020 MPLX LP Announces Quarterly Distribution, 06/12/2020 MPLX LP to Announce 2020 Second-Quarter Financial Results Aug. 3. 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. March 19, 2020 Marathon Pipe Line LLC earns American Petroleum Institute Distinguished Pipeline Safety Award. 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. 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. This merger brings the SuperAmerica convenience stores back to Speedway. Headquartered in Findlay, Ohio, MPC with refineries all over the United States, we have opportunities everywhere. The Marathon Petroleum board of directors has unanimously decided that the company should remain the general partner of MPLX. In other business, the company named Michael J. Hennigan to be the new president and CEO, effective immediately. Click here to read our latest response to COVID-19.
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