Marathon Petroleum
A major American petroleum refining, fuel marketing, and midstream infrastructure company.
Last updated November 4, 2026
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Overview
Marathon Petroleum Corporation (MPC) is an American energy company focused on petroleum refining, fuel marketing, transportation, storage, and related midstream activities. Headquartered in Findlay, Ohio, the company operates primarily in the United States and is one of the country’s largest refining businesses. Its activities span crude-oil processing, production of transportation fuels and other refined products, wholesale and branded fuel marketing, renewable-fuels infrastructure, and logistics assets. MPC also owns a controlling general-partner interest and a substantial limited-partner interest in MPLX LP, a publicly traded midstream partnership associated with the transportation, storage, gathering, processing, and fractionation of hydrocarbons. The company’s modern corporate identity dates from 2009, when Marathon Petroleum Corporation was formed as a subsidiary of Marathon Oil Corporation. Marathon Oil subsequently separated its downstream business through a 2011 spin-off, distributing MPC shares to Marathon Oil shareholders. The separation created an independently listed company centered on refining, marketing, and transportation, while Marathon Oil continued as an exploration and production business. MPC’s historical roots are considerably older than its corporate formation. The company traces lineage to The Ohio Oil Company, established in Lima, Ohio, in 1887 by a combination of smaller Ohio oil businesses. Ohio Oil became an important regional producer, was acquired by the Standard Oil Trust in 1889, and later returned to independent status after the 1911 breakup of Standard Oil. Over subsequent decades, the business expanded from oil production into refining, pipelines, storage, and branded retail marketing. Acquisitions brought the Marathon name into the organization and helped create the downstream platform that later became Marathon Petroleum. A major predecessor was Marathon Ashland Petroleum LLC, formed in 1998 through the combination of the refining operations of Marathon Oil and Ashland Inc. Ashland sold its interest in the venture to Marathon in 2005, leaving the downstream operation wholly owned by Marathon Oil. The predecessor’s portfolio included refineries, terminals, pipelines, fuel brands, and retail operations. Marathon also developed the Speedway convenience-store business, which was later separated and sold. MPC expanded substantially through acquisitions and capital projects. A large Garyville, Louisiana, refinery expansion completed in 2009 increased the facility’s capacity by approximately 180,000 barrels per day. In 2013, MPC acquired significant assets from BP, including the Texas City refinery, distribution terminals, and retail marketing contracts. The 2018 acquisition of Andeavor transformed the company into a national refining and marketing operator, adding Western U.S. refineries, logistics assets, the ARCO brand, and a wider retail footprint. The transaction made MPC the largest U.S. petroleum-refining operator at that time by aggregate capacity. MPC later pursued portfolio simplification. It announced the separation of Speedway, its convenience-store and retail-fuel business, and agreed to sell Speedway to Seven & i Holdings. The transaction closed in May 2021. MPC therefore remains principally a refining, wholesale marketing, branded fuel, and midstream company, while Speedway is no longer part of its operating portfolio. Its branded network continues to include Marathon and, following the Andeavor combination, ARCO locations in portions of the United States. The company also maintains renewable-fuels and feedstock-related facilities alongside its conventional petroleum operations.
History
Marathon Petroleum’s corporate history combines an older Ohio oil lineage with a modern downstream spin-off. Its roots reach back to 1887, when several small Ohio oil companies joined to form The Ohio Oil Company in Lima. The company became a leading producer in Ohio and was acquired by the Standard Oil Trust in 1889. Its headquarters moved to Findlay in 1895. In 1906, it built an early pipeline linking facilities in Illinois and Indiana, establishing a pattern of combining petroleum production with transportation infrastructure. After the U.S. Supreme Court required the dissolution of Standard Oil under the Sherman Antitrust Act in 1911, Ohio Oil again operated independently. It expanded beyond Ohio, entered refining, and acquired additional oil fields and downstream facilities. In 1924, it discovered oil in Texas and acquired Lincoln Oil Refining Company, including a refinery and 17 Indiana service stations. Later acquisitions brought refineries, storage facilities, filling stations, and the Marathon product name into the business. The immediate predecessor of MPC was Marathon Ashland Petroleum LLC, created in 1998 through the combination of Marathon Oil’s refining operations and Ashland Inc.’s downstream business. The combination also brought together the Speedway and SuperAmerica convenience-store networks. Ashland sold its interest to Marathon in 2005, after which the downstream business became wholly owned by Marathon Oil. The business used the marketing slogan “Fueling the American Spirit” from 2006 and introduced STP-branded additives into its fuel program during the same period. MPC was formed as a Marathon Oil subsidiary on November 9, 2009. That year it completed a major expansion at its Garyville refinery in Louisiana, adding approximately 180,000 barrels per day of capacity. In 2010, it sold the St. Paul Park refinery and related logistics assets, together with 166 SuperAmerica convenience stores, to Northern Tier Energy. On June 30, 2011, Marathon Oil completed the spin-off of MPC by distributing MPC shares to its own shareholders. Following independence, MPC expanded its marketing territory and asset base. In 2012, an agreement with Tri-State Petroleum converted 50 stations in Ohio, Pennsylvania, and West Virginia to the Marathon brand. In 2013, MPC acquired BP’s Texas City refinery, four light-product distribution terminals, and retail marketing contracts for approximately 1,200 southeastern stations. In 2014, Speedway acquired Hess Corporation’s retail operations, extending the Marathon-related retail presence into the Northeast. The most consequential expansion occurred in 2018, when MPC agreed to acquire Andeavor for approximately $23 billion. The transaction closed on October 1 and added Western U.S. refineries, logistics assets, retail marketing operations, and the ARCO brand. The combination made MPC a national refining and fuel-marketing company and substantially increased its aggregate refining capacity. MPC subsequently refocused its portfolio. In 2019 it announced plans to separate Speedway and disclosed the planned retirement of chairman and chief executive Gary Heminger. In 2020, it agreed to sell Speedway to Seven & i Holdings for approximately $21 billion; the sale closed in May 2021. MPC’s continuing business is centered on refining, wholesale and branded fuel marketing, logistics, renewable-fuels facilities, and its interest in MPLX. Its operating history also includes major safety and litigation events, including the 2016 Galveston Bay refinery fire and the 2023 Garyville refinery fire.
- 2021
Speedway is sold
[1]Seven & i Holdings completes its acquisition of Speedway, ending MPC’s ownership of the convenience-store chain.
- 2018
Andeavor acquisition closes
[1]The completed transaction expands MPC into the Western United States and adds the ARCO brand.
- 2013
BP asset acquisition
[1]MPC acquires BP’s Texas City refinery, distribution terminals, and southeastern retail marketing contracts.
- 2011
Corporate spin-off from Marathon Oil
[1]Marathon Oil distributes MPC shares to its shareholders, separating the downstream company from the exploration and production business.
- 2009
Marathon Petroleum Corporation is formed
[1]MPC is incorporated as a subsidiary of Marathon Oil, while the Garyville refinery expansion is completed.
- 2005
Marathon gains full ownership of the downstream business
[1]Ashland sells its interest in Marathon Ashland Petroleum, leaving the operation wholly owned by Marathon Oil.
- 1998
Marathon Ashland Petroleum is formed
[1]Marathon Oil and Ashland combine their refining operations to create Marathon Ashland Petroleum LLC.
- 1906
First oil pipeline
[1]The predecessor company builds a pipeline connecting facilities in Martinsville, Illinois, and Preble, Indiana.
- 1889
Acquisition by the Standard Oil Trust
[1]The Ohio Oil Company is acquired by the Standard Oil Trust.
- 1887
The Ohio Oil Company is established
[1]Several Ohio oil companies combine to form The Ohio Oil Company in Lima, creating an important predecessor to Marathon Petroleum.
Products and positioning
One of the largest U.S. refining and fuel-marketing companies, combining a substantial downstream refining system with integrated logistics and midstream interests.
Refined petroleum products
Gasoline
Gasoline is one of MPC’s principal refinery outputs and is sold through wholesale channels and branded marketing networks. Marathon-branded and ARCO-branded stations distribute gasoline in markets across the United States, while unbranded product is supplied to other fuel marketers and commercial customers.
Refined petroleum products
Diesel fuel
MPC produces and markets diesel fuel for trucking, commercial transportation, industrial use, and other distillate markets. Production is integrated with its refinery system and distribution infrastructure, including terminals, pipelines, rail, barges, and other transportation assets.
Refined petroleum products
Jet fuel
Jet fuel is produced by MPC’s refining operations and marketed to aviation-related customers and distributors. It forms part of the company’s broader slate of transportation fuels derived from crude-oil processing.
Refined petroleum products
Asphalt
Asphalt and asphalt-related products are among the heavier products generated and marketed by MPC’s refining system. They serve road construction, paving, roofing, and related infrastructure applications.
Renewable energy products
Renewable fuels
MPC operates renewable-fuels and feedstock-related facilities, including renewable-fuels production and pretreatment assets and a soybean-processing facility. These operations complement its conventional refining portfolio and support the production or preparation of lower-carbon fuel inputs.
Fuel marketing
Marathon and ARCO branded fuels
Marathon and ARCO are MPC’s principal branded fuel identities. The Marathon network has historic strength in the Midwest and Southeast, while the 2018 Andeavor acquisition expanded the company’s national reach and added ARCO, particularly in Western markets.
Controversies
2023
Garyville refinery fire
A fire at the Garyville refinery in Louisiana led to precautionary evacuations of nearby residents and some schools because of concerns about air quality. The available reference material does not establish a final cause or full legal outcome.
2016
Galveston Bay refinery fire and litigation
A fire at the Galveston Bay refinery in Texas City injured three contract workers. Multiple lawsuits were filed, and the matter was reportedly resolved through an $86 million settlement.
Marketing campaigns
- 2006Fueling the American Spirit
United States
MPC’s predecessor adopted the “Fueling the American Spirit” positioning as it emphasized employees, work ethic, and the company’s role in supplying American transportation and industry.
Outcome. Used as a principal marketing slogan during the company’s downstream-branding period.
Brand decisions
2020
Sell Speedway to Seven & i HoldingsM&ABackground
After announcing a Speedway separation, MPC selected Seven & i Holdings as the buyer for the retail and convenience-store business.
Action taken
MPC agreed to sell Speedway for approximately $21 billion, subject to regulatory approval and closing conditions.
Aftermath
The transaction closed on May 14, 2021, and Speedway ceased to be part of MPC.
Transaction value. (2020 announced; 2021 completed)
2019
Separate SpeedwayStrategyBackground
MPC announced a portfolio review and sought to focus more directly on refining, fuel marketing, and midstream activities.
Action taken
The company announced plans to spin off or otherwise separate Speedway and disclosed the planned retirement of chairman and chief executive Gary Heminger.
Aftermath
MPC ultimately sold Speedway to Seven & i Holdings rather than retaining it within the company.
2018
Acquire AndeavorM&ABackground
MPC sought to expand its refining and marketing footprint beyond its traditional Midwestern and Southeastern markets.
Action taken
MPC agreed to acquire Andeavor for approximately $23 billion; the transaction closed on October 1, 2018.
Aftermath
The deal added Western refineries, logistics infrastructure, the ARCO brand, and broader national marketing coverage.
Transaction value. (2018)
Recent events
Reported
Marathon and MPLX announce refinery sale to CUR Energy[3]
Marathon Petroleum Corporation and MPLX LP announced a deal to sell their Mandan refinery and the St. Paul Park refinery, along with supporting midstream assets, to CUR Energy, Inc. for $4.2 billion plus inventory. The deal is expected to close by the end of 2026, pending federal regulatory review.
Reported
MPLX announces sale of associated logistics assets[4]
MPLX announced the sale of associated logistics assets for $750 million in conjunction with MPC's announced sale of its St. Paul Park and Mandan refineries. The transaction is expected to close at the end of 2026.
Reported
Marathon Petroleum reports Q3 net income[5]
Marathon Petroleum Corporation reported Q3 net income of $7.4 billion.
Reported
Cognite named Marathon Petroleum’s Corporate Supplier of the Year[6]
Cognite announced it was named the Corporate Supplier of the Year winner in Marathon Petroleum Corporation’s 11th Annual Supplier Recognition Awards.
- Unconfirmed
Reported
Government contract payment of $38 million to Marathon Petroleum[7]
A government contract update reported a $38 million payment to Marathon Petroleum Company LP. The source does not identify the contracting agency, the goods or services covered, or the payment date.
Reported
Marathon Petroleum and Neste announce Martinez renewable fuels joint venture[8]
Marathon Petroleum announced definitive agreements with Neste to form a 50/50 joint venture for Marathon’s Martinez renewable fuels project. The venture remains subject to customary closing conditions and regulatory approvals.
Reported
Marathon Petroleum completes sale of Speedway to 7-Eleven[9]
Marathon Petroleum announced the close of its $21 billion sale of Speedway to 7-Eleven, Inc., a wholly owned indirect subsidiary of Seven & i Holdings.
Reported
Southwest signs SAF partnership MoUs with MPC and Phillips 66[10]
Southwest Airlines signed memoranda of understanding with Marathon Petroleum Corporation and Phillips 66 for collaboration that includes the use of commercialized sustainable aviation fuel in Southwest's operations.
Reported
Marathon Petroleum begins company-wide job cuts[11]
Marathon Petroleum began cutting jobs across the company on Tuesday, according to people familiar with the matter. The cuts included salaried staff at its Galveston Bay plant and Los Angeles refinery.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Reported
7-Eleven agrees to acquire Speedway[12]
Marathon Petroleum announced an agreement under which 7-Eleven would acquire Speedway for $21 billion in cash. The transaction was expected to close in the first quarter of 2021, subject to closing conditions and regulatory approvals.
Sources19 sources
- 1Marathon Petroleumen.wikipedia.org
- 2Marathon Petroleum official websitemarathonpetroleum.com
- 3Marathon与MPLX宣布向CUR Energy出售炼油厂kfyrtv.com
- 4MPLX宣布出售相关物流资产prnewswire.com
- 5Marathon Petroleum公布第三季度净收入news.google.com
- 6Cognite获评Marathon Petroleum年度企业供应商thesudburystar.com
- 7马拉松石油收到3800万美元政府合同付款news.google.com
- 8马拉松石油与 Neste 宣布成立 Martinez 可再生燃料合资企业prnewswire.com
- 9Marathon Petroleum 完成向 7-Eleven 出售 Speedwayprnewswire.com
- 10Southwest与MPC及Phillips 66签署可持续航空燃料合作谅解备忘录airport-technology.com
- 11马拉松石油开始全公司裁员financialpost.com
- 127-Eleven同意收购Speedwayoilandgas360.com
- 13MPLX公布2019年第四季度及全年业绩prnewswire.com
- 14Marathon partners with Neste on Martinez renewable fuels projectfinancialpost.com
- 15Marathon Partners With Neste on Renewable Fuels Projectcstoredecisions.com
- 16Marathon Petroleum Announces $21B Salerigzone.com
- 17Marathon Petroleum, top U.S. refiner, begins widespread job cutshydrocarbonprocessing.com
- 18MPLX LP Reports Second-Quarter 2020 Financial Resultsprnewswire.com
- 19Top U.S. oil refiner, Marathon Petroleum, begins widespread job cuts -sources - Oil & Gas 360oilandgas360.com
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