Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. What company owns Marathon Oil? Funds that own Marathon Oil Corporation also own: Comcast Corporation (CMCSA) NVIDIA … MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. [18][19] On October 1, 2018, the merger was completed. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. MPC's marketing system includes branded locations across the United States , including Marathon … Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] Facebook; Twitter; WhatsApp; SMS; Email; Print; Save; 7-Eleven owner is buying Marathon Petroleum… Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. 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. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. [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 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. Emro Marketing Company and Super America Group merged to form Speedway SuperAmerica LLC. 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 Oil (NYSE:MRO) became two companies June 30 when the refining and marketing assets of the business, commonly referred to as downstream, were spun off into Marathon Petroleum … 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. 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. 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. 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. 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. [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. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the … (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 has received a letter from two large shareholders calling for the ouster of the fuel maker’s chief executive. Who owns Marathon Oil Corporation? Type. [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. 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. Type Public . Since 2017, Ms. Mannen has served as Executive Vice President and Chief Financial Officer of TechnipFMC, a leading global engineering services and energy technology company incorporated in the United Kingdom and headquartered in Paris and Houston, with listings on the NYSE and Euronext Paris. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. "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. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. This merger brings the SuperAmerica convenience stores back to Speedway. 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. Invest in Marathon Petroleum stock and others with any dollar amount. 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. Prior to joining FMC Technologies in 1986, Ms. Mannen was Finance Manager for Sheller-Globe Corporation. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. The company operates the nation's largest refining system. Marathon Petroleum Corporation is engaged in refining, ... MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets. FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. You might be interested: New york marathon 2016 results. See Marathon Petroleum real time stock price, historical quotes and price charts. 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. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. Marathon Pipe Line LLC (MPL) is headquartered in Findlay, Ohio, and is a subsidiary of MPLX LP, a diversified, growth-oriented master limited partnership formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). You can identify our forward-looking statements by words such as "anticipate," "believe," "budget," "commitment," "design," "estimate," "expect," "focus," "forecast," "forward," "goal," "guidance," "imply," "intend," "look," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "project," "projection," "proposition," "prospective," "pursue," "schedule," "seek," "strategy," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. The company operates the nation's largest refining system. Marathon will acquire all of Andeavor's outstanding shares. Mannen will succeed retiring CFO Donald C. Templin. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. Industry. France raises food sovereignty concern about Couche-Tard's $20 billion offer .. MPLX's Proposed Sale of Javelina Fractionation Plant Marks 'Solid First Step'.. It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Who bought or sold Marathon Oil Corporation this quarter? MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. [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. [4]. 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.. Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Ohio-based Marathon Petroleum Corp. owns the Speedway gas station chain. [10], In 2006, Marathon began using STP-branded additives in its gasoline. 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. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. Mannen will succeed retiring CFO Donald C. Templin. Marathon Petroleum General Information Description. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX. [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. Gary Heminger, the longtime CEO of Marathon Petroleum, who spun the company out of Marathon Oil in 2012 and will lead the combined companies, has shares worth about $230 million. For consumers, the stations represent Speedway gas. Gary Heminger will also retire from his role as Marathon chairman and CEO. Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. The … Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. 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. 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. About Marathon Petroleum CorporationMarathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Mannen will succeed retiring CFO Donald C. Templin. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … In 2005, the company became a 100% owned subsidiary of Marathon Oil. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. Type Public . 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. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. 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. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. 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. 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 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. What company owns Marathon Oil? Marathon Petroleum (NYSE: MPC), a refiner and operator of the Marathon and Arco brand gas stations, said Mannen has nearly a decade of experience … The company operates the nation's largest refining system. Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Marathon Petroleum General Information Description. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. Buy Marathon Petroleum stock (MPC). The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. 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. 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. 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. They are Marathon gas stations in the sense the corporation owns them. Marathon Petroleum Corporation was formed on November 9, 2009, as a subsidiary of Marathon Oil. FINDLAY, Ohio, Nov. 11, 2020 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Donald C. Templin, executive vice president and chief financial officer, has elected to retire from the company, effective in January 2021.A nationwide search for the company's next CFO is ongoing. The company operates the nation's largest refining system. The company operates the nation's largest refining system. The company operates the nation's largest refining system. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Ms. Mannen holds a bachelor's degree in accounting and a master of business administration degree from Rider University. 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. Marathon Petroleum. More information is available at www.marathonpetroleum.com. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Ms. 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. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. Wholly owned subsidiary of Marathon Oil s chief executive on October 31, 2019, Marathon.. 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