About the Company
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Marathon Petroleum traces its origin from a number of small oil companies in Ohio that banded together in 1887. These formed The Ohio Oil Company established in Lima, Ohio. It became the largest oil producer in the state. By 1889, the company was acquired by the Standard Oil Trust and six years later its headquarters was moved to Findlay. In 1906, the company built its first oil pipeline, which connected its facilities in Martinsville, Illinois, and Preble, Indiana. After the United States Supreme Court ordered its parent company to break up as a result of the Sherman Anti-Trust Act in 1911, Ohio Oil again became independent. It expanded its operations by purchasing oil fields outside of Ohio. The company also started oil refining. In 1924, the company discovered oil in Texas. In the same year, it acquired Lincoln Oil Refining Company. This purchase included a refinery and 17 brand service stations in Indiana. Several years later, Ohio Oil acquired Transcontinental Oil, which included – in addition to refineries, storage facilities, and filling stations – the Marathon product name. Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 13 refineries and over 3 million barrels per calendar day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. In the 2020 Forbes Global 2000, Marathon Petroleum was ranked as the 138th-largest public company in the world. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon and ARCO branded fuel stations. 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.
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