"Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … Marathon Petroleum General Information Description. Stay up to date with Marathon Petroleum stock news. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. Who bought or sold Marathon Oil Corporation this quarter? Marathon will close the Martinez Refinery and the Gallup Refinery in 2020. [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. [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, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. [16] Multiple lawsuits were filed resulting in Marathon paying $86 million to settle. Facebook; Twitter; WhatsApp; SMS; Email; Print; Save; 7-Eleven owner is buying Marathon Petroleum… 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. 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. 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. 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. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. FINDLAY, Ohio — After a 10-month strategic review process, Marathon Petroleum Corp. (MPC) is spinning off Speedway LLC. 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's marketing system includes branded locations across the United States, including Marathon branded outlets. 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. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Who owns Marathon Petroleum Corp? What company owns Marathon Oil? 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. BP is the single, global brand formed by the combination of the former British Petroleum , Amoco, Atlantic Richfield (ARCO) and Burmah Castrol. 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. [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. 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. 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. Type Public . 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. [20] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. Invest in Marathon Petroleum stock and others with any dollar amount. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. [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. 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 … It remained a part of Standard Oil until the Standard Oil Trust was broken in 1911. Findlay, Ohio-based Marathon owns and operates roughly 4,000 convenience stores in the U.S., largely under the Speedway brand. This page was last edited on 17 December 2020, at 06:43. [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. 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. [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. In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. 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. Marathon Petroleum stock climbed early on Tuesday as the largest U.S. oil refiner reported a smaller-than-expected loss amid collapsing fuel demand. Add alert for MRO Ticker: MRO; CUSIP Number: 565849106; Top investors of Marathon Oil Corporation stock. 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 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 … The company operates the nation's largest refining system. Marathon Petroleum Corp. buckled under pressure from activist investors and announced the spinoff of its Speedway gas-station retail business … Gary Heminger will also retire from his role as Marathon chairman and CEO. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. Marathon Petroleum Corporation is engaged in refining, ... MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets. Mannen will succeed retiring CFO Donald C. Templin. The company operates the nation’s largest refining system. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. 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. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Under pressure from activist investors, Marathon … 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. Buy Marathon Petroleum stock (MPC). 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. The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors.. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict and many of which are beyond our control. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. 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. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. 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 is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. 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. CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. 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 stores are owned and operated by the corporation, selling Marathon gas under the Speedway name. "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.". Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. 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. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] About Marathon Petroleum CorporationMarathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. Ms. Mannen will succeed retiring CFO Donald C. Templin. [18][19] On October 1, 2018, the merger was completed. Marathon Petroleum (NYSE: MPC), a refiner and operator of the Marathon and Arco brand gas stations, said Mannen has nearly a decade of experience … This merger brings the SuperAmerica convenience stores back to Speedway. The company operates the nation's largest refining system. The company operates the nation's largest refining system. What company owns Marathon Oil? Marathon Petroleum General Information Description. 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. 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. 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. The company said in October that current Chairman and CEO Gary Heminger will retire in April after 45 years with the company. Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Add alert for MPC Ticker: MPC; CUSIP Number: … They are Marathon gas stations in the sense the corporation owns them. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets. 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 firm also owns and operates midstream assets primarily through its listed MLP, MPLX. 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. Is Marathon gas owned by BP? Prior to joining FMC Technologies in 1986, Ms. Mannen was Finance Manager for Sheller-Globe Corporation. France raises food sovereignty concern about Couche-Tard's $20 billion offer .. MPLX's Proposed Sale of Javelina Fractionation Plant Marks 'Solid First Step'.. Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. [2] Marathon Petroleum ranked No. 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. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation 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. Who owns Marathon Oil Corporation? [4]. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. More information is available at www.marathonpetroleum.com. MPC's marketing system includes branded locations across the United States , including Marathon … The company operates the nation's largest refining system. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. For consumers, the stations represent Speedway gas. She is a member of the Owens Corning board of directors and has served as the audit committee chair since 2019. [21][22], In August 2020, Marathon Petroleum announced the sale of Speedway to 7-Eleven owners for $21 billion. 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 will acquire all of Andeavor's outstanding shares. In 2005, the company became a 100% owned subsidiary of Marathon Oil. Each company owns 50% of PTC. Type. Speedway LLC, a Marathon Petroleum subsidiary, owns … [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. David WetheBloomberg Thursday Oct 31, 2019 at 12:46 PM. [3] In the 2020 Forbes Global 2000, Marathon Petoleum was ranked as the 197th-largest public company in the world. [9] In 1889, it was purchased by John D. Rockefeller's Standard Oil. The fund owned 24,476 shares of the oil and gas company’s stock after selling 1,499 shares during the quarter. [10], In 2006, Marathon began using STP-branded additives in its gasoline. 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. Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. 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. "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. Ms. Mannen holds a bachelor's degree in accounting and a master of business administration degree from Rider University. 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. Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. The retail network will become an independent company by year-end 2020. As of December 31, 2015, the company had 2.163 billion barrels of oil equivalent (1.323×10 GJ) of estimated proven reserves, of which 44% was in the United States, 32% was in Canada, 12% was in Equatorial Guinea, and 11% was in other countries in Africa, primarily Libya. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. From 1982 until 2002, Marathon Oil was a subsidiary of U.S. Steel. 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%. : 565849106 ; Top investors of Marathon Oil succeed retiring CFO Donald C. 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