Marathon Petroleum Company
Encyclopedia
Marathon Petroleum Corporation is a U.S.
based oil refining, marketing, and pipeline transport company. The company was formed as a subsidiary on September 1, 2005, from the former Marathon Ashland Petroleum, LLC, and is based in Findlay, Ohio
. Marathon Petroleum operated as a subsidiary of the Marathon Oil Corporation until July 1, 2011.
Marathon Ashland Petroleum, LLC was a US based petroleum
corporation
, formed in 1998 from a merger of the downstream operations of Ashland, Inc.
, and Marathon Oil. Its corporate headquarters were in Findlay. Marathon owned 62% percent and Ashland owned 38% of this venture.
On September 1, 2001, Marathon formed Pilot Travel Centers
, LLC (PTC) in a joint venture with Pilot Corporation. Each company owned 50% of PTC. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot.
The Speedway SuperAmerica
chain of convenience store
s was a subsidiary of this now-defunct company. In addition, Marathon Ashland Petroleum owned seven refineries
and a number of other pipeline
s. Following Ashland shareholder and debt-holder approval, the company became fully owned by Marathon Oil
on June 30, 2005. The company was renamed Marathon Petroleum Company on September 1, 2005.
In 2006, Marathon began using STP
-branded additives in its gasoline, likely to compete with Chevron's
popular Techron
additive.
On January 13, 2011, Marathon Oil Company announced it would separate completely from Marathon Petroleum Company, creating 2 independent entities. As a result, Marathon Petroleum Company exists as an independent downstream oil company, with focus on refining, pipeline, and marketing. The split was expected by Marathon executives to allow Marathon Petroleum Company to focus more directly on refining, pipeline and marketing portfolio enrichment. The spin-off
was completed on July 1, 2011.
; Canton, Ohio
; Detroit, Michigan
; Garyville, Louisiana
; Catlettsburg, Kentucky
; and Texas City, Texas
. The refinery in St. Paul Park, Minnesota
was recently sold as the Garyville Major Expansion project has made this refinery obsolete.
On July 29, 2010, The Pantry, Inc., operator of Kangaroo Express stores and the leading independently operated convenience store chain in the southeastern United States, announced a fuel supply agreement with Marathon Petroleum. Under the terms of the agreement, Marathon will supply fuel to more than 600 Pantry locations, with a joint branding relationship at approximately 285 of these sites. The store and fuel forecourt re-branding was initially introduced in Charlotte, North Carolina
. Throughout the remainder of 2010, all joint brand location conversions were completed across a seven-state southeastern marketing region.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
based oil refining, marketing, and pipeline transport company. The company was formed as a subsidiary on September 1, 2005, from the former Marathon Ashland Petroleum, LLC, and is based in Findlay, Ohio
Findlay, Ohio
As of the census of 2000, there were 38,967 people, 15,905 households, and 10,004 families residing in the city. The population density was 2,266.3 people per square mile . There were 17,152 housing units at an average density of 997.6 per square mile...
. Marathon Petroleum operated as a subsidiary of the Marathon Oil Corporation until July 1, 2011.
History
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
, formed in 1998 from a merger of the downstream operations of Ashland, Inc.
Ashland, Inc.
Ashland Inc. is a Fortune 500 company which operates in more than 100 countries throughout the world. Presently based in Covington, Kentucky, in the United States, the company traces its roots back to Ashland, Kentucky .-History:...
, and Marathon Oil. Its corporate headquarters were in Findlay. Marathon owned 62% percent and Ashland owned 38% of this venture.
On September 1, 2001, Marathon formed Pilot Travel Centers
Pilot Travel Centers
Pilot Flying J is a chain of truck stops in the United States and Canada. The company is based in Knoxville, Tennessee where Pilot Corporation, the majority owner, is based. The company is owned by Pilot, FJ Management Inc., and CVC Capital Partners...
, LLC (PTC) in a joint venture with Pilot Corporation. Each company owned 50% of PTC. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot.
The Speedway SuperAmerica
Speedway SuperAmerica
Speedway LLC is the operator of a chain of combination gas stations and convenience stores in the Midwest and South of the United States operating under the Speedway brand name. Speedway LLC is a wholly owned subsidiary of the Marathon Petroleum Company...
chain of convenience store
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
s was a subsidiary of this now-defunct company. In addition, Marathon Ashland Petroleum owned seven refineries
Refinery
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value.-Types of refineries:Different types of refineries are as follows:...
and a number of other pipeline
Pipeline transport
Pipeline transport is the transportation of goods through a pipe. Most commonly, liquids and gases are sent, but pneumatic tubes that transport solid capsules using compressed air are also used....
s. Following Ashland shareholder and debt-holder approval, the company became fully owned by Marathon Oil
Marathon Oil
Marathon Oil Corporation is a United States-based oil and natural gas exploration and production company. Principal exploration activities are in the United States, Norway, Equatorial Guinea, Angola and Canada. Principal development activities are in the United States, the United Kingdom, Norway,...
on June 30, 2005. The company was renamed Marathon Petroleum Company on September 1, 2005.
In 2006, Marathon began using STP
STP (motor oil company)
STP is an American brand and trade name for the automotive additives, lubricants and performance division of Armored AutoGroup.Founded in 1953 in Saint Joseph, Missouri, the company’s name, STP, was derived from “Scientifically Treated Petroleum”...
-branded additives in its gasoline, likely to compete with Chevron's
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
popular Techron
Techron
Techron is a patented fuel additive developed by the Chevron Corporation, usually consisting of gasoline mixed with 400 ppm of polyetheramine. With the introduction of Techron, Chevron gasolines became designated as meeting Top Tier standards for fuel cleanliness. Chevron gasolines with Techron...
additive.
On January 13, 2011, Marathon Oil Company announced it would separate completely from Marathon Petroleum Company, creating 2 independent entities. As a result, Marathon Petroleum Company exists as an independent downstream oil company, with focus on refining, pipeline, and marketing. The split was expected by Marathon executives to allow Marathon Petroleum Company to focus more directly on refining, pipeline and marketing portfolio enrichment. The spin-off
Spin out
A spin-out, also known as a spin-off or a starburst, refers to a type of corporate action where a company "splits off" sections of itself as a separate business....
was completed on July 1, 2011.
Operations
Marathon maintains refineries in Robinson, IllinoisRobinson, Illinois
Robinson is a city in Crawford County, Illinois, United States. The population was 6,822 at the 2000 census. It is the county seat of Crawford County.-Geography:Robinson is located at ....
; Canton, Ohio
Canton, Ohio
Canton is the county seat of Stark County in northeastern Ohio, approximately south of Akron and south of Cleveland.The City of Caton is the largest incorporated area within the Canton-Massillon Metropolitan Statistical Area...
; Detroit, Michigan
Detroit, Michigan
Detroit is the major city among the primary cultural, financial, and transportation centers in the Metro Detroit area, a region of 5.2 million people. As the seat of Wayne County, the city of Detroit is the largest city in the U.S. state of Michigan and serves as a major port on the Detroit River...
; Garyville, Louisiana
Garyville, Louisiana
Garyville is a census-designated place in St. John the Baptist Parish, Louisiana, United States. The population was 2,775 at the 2000 census. It is part of the New Orleans–Metairie–Kenner Metropolitan Statistical Area...
; Catlettsburg, Kentucky
Catlettsburg, Kentucky
Catlettsburg is a city in Boyd County, Kentucky, United States and is the county seat of Boyd County. The city population was 1,960 at the 2000 census. The city's postal ZIP code serves a greater population of 10,029, which is a better reflection of the community's size. Catlettsburg is a part of...
; and Texas City, Texas
Texas City, Texas
Texas City is a city in Chambers and Galveston counties in the U.S. state of Texas. The population was 41,521 at the 2000 census. It is a part of the Houston–Sugar Land–Baytown, Texas Metropolitan Statistical Area.-History:...
. The refinery in St. Paul Park, Minnesota
St. Paul Park, Minnesota
St. Paul Park is a city in Washington County, Minnesota, United States. The population was 5,279 at the 2010 census. It is located on the Mississippi River five miles downstream from St...
was recently sold as the Garyville Major Expansion project has made this refinery obsolete.
On July 29, 2010, The Pantry, Inc., operator of Kangaroo Express stores and the leading independently operated convenience store chain in the southeastern United States, announced a fuel supply agreement with Marathon Petroleum. Under the terms of the agreement, Marathon will supply fuel to more than 600 Pantry locations, with a joint branding relationship at approximately 285 of these sites. The store and fuel forecourt re-branding was initially introduced in Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. Throughout the remainder of 2010, all joint brand location conversions were completed across a seven-state southeastern marketing region.