Profile: Marathon Petroleum Corp (MPC.N)
75.09USD
4:03pm EDT
$1.76 (+2.40%)
$73.33
$74.88
$76.00
$74.08
1,107,197
699,670
$92.70
$44.40
Marathon Petroleum Corporation (MPC), incorporated on November 9, 2009, is a petroleum product refiners, transporters and marketers in the United States. The Company operates in three segments: Refining & Marketing, Speedway and Pipeline Transportation. Marathon Petroleum’s refining, marketing and transportation operations are concentrated in the Midwest, Gulf Coast and Southeast regions of the United States. MPC has two retail brands: Speedway and Marathon.
Refining & Marketing
The Company owned and operated six refineries in the Gulf Coast and Midwest regions of the United States with an aggregate crude oil refining capacity of approximately 1.25 million barrels per calendar day as of December 31, 2012. During 2012, its refineries processed 1,195 million barrels per day of crude oil and 168 million barrels per day of other charge and blend stocks. Its refineries include crude oil atmospheric and vacuum distillation, fluid catalytic cracking, catalytic reforming, desulfurization and sulfur recovery units. The refineries process a range of crude oils and produce numerous refined products, ranging from transportation fuels, such as reformulated gasolines, blend-grade gasolines intended for blending with fuel ethanol and ultra-low-sulfur diesel fuel, to heavy fuel oil and asphalt. Additionally, MPC manufacture aromatics, propane, propylene, cumene and sulfur.
The Company’s Garyville, Louisiana refinery is located along the Mississippi River in southeastern Louisiana between New Orleans and Baton Rouge. The Garyville refinery is configured to process heavy sour crude oil into products, such as gasoline, distillates, fuel-grade coke, asphalt, polymer grade propylene, propane, slurry, isobutane and sulfur. The Catlettsburg, Kentucky refinery is located in northeastern Kentucky on the western bank of the Big Sandy River, near the confluence with the Ohio River. The Catlettsburg refinery processes sweet and sour crude oils into products such as gasoline, distillates, asphalt, heavy fuel oil, cumene, propane, propylene and petrochemicals. The Robinson, Illinois refinery is located in southeastern Illinois. The Robinson refinery processes sweet and sour crude oils into products, such as multiple grades of gasoline, distillates, anode-grade coke, propane, butane and propylene.
MPC’s Detroit, Michigan refinery is located in southwest Detroit. It is the petroleum refinery operating in Michigan. The Detroit refinery processes light sweet and heavy sour crude oils, including Canadian crude oils, into products such as gasoline, distillates, asphalt, propylene, propane, slurry and fuel-grade coke. Its Canton, Ohio refinery is located approximately 60 miles southeast of Cleveland, Ohio. The Canton refinery processes sweet and sour crude oils into products such as gasoline, distillates, asphalt, roofing flux, propane and slurry. Its Texas City, Texas refinery is located on the Texas Gulf Coast approximately 30 miles south of Houston, Texas. The Canton refinery processes sweet and sour crude oils into products such as gasoline, distillates, asphalt, roofing flux, propane and slurry.
As of December 31, 2012, the Company owned and operated 61 light product and 21 asphalt terminals. In addition, it distributes through approximately 61 third-party light product and 10 third-party asphalt terminals in its market area. During 2012, marine transportation operations included 15 towboats, as well as 177 owned and 14 leased barges that transport refined products on the Ohio, Mississippi and Illinois rivers and their tributaries, as well as the Intercoastal Waterway. As of December 31, 2012, the Company leased or owned approximately 1,944 leased and 27 owned railcars of various sizes and capacities for movement and storage of refined products. As of December 31, 2012, we owned 142 transport trucks and 150 trailers with an aggregate capacity of 1.4 million gallons for the movement of refined products.
The Company produces propane at all six of its refineries. Propane is primarily used for home heating and cooking, as a feedstock within the petrochemical industry, for grain drying and as a fuel for trucks and other vehicles. The Company is also a producer and marketer of feedstocks and specialty products. Product availability varies by refinery and includes propylene, cumene, dilute naphthalene oil, molten sulfur, toluene, benzene and xylene. Propane is primarily used for home heating and cooking, as a feedstock within the petrochemical industry, for grain drying and as a fuel for trucks and other vehicles.
Speedway
The Company sells transportation fuels and convenience products in the retail market in the Midwest, primarily through Speedway convenience stores. The Speedway segment sells gasoline and merchandise through convenience stores that the Company owns and operates, primarily under the Speedway brand. Speedway-branded convenience stores offer a range of merchandise, such as prepared foods, beverages and non-food items, including a number of private-label items. As of December 31, 2012, Speedway had 1,464 convenience stores in seven states.
Pipeline Transportation
The Company transports crude oil and other feedstocks to its refineries and other locations, delivers refined products to wholesale and retail market areas and includes, among other transportation-related assets, a majority interest in LOOP LLC, which is the owner and operator of the United States deepwater oil port. It owns common carrier pipeline systems through Marathon Pipe Line LLC (MPL) and Ohio River Pipe Line LLC (ORPL), both of which are wholly owned subsidiaries. These pipeline systems transport crude oil and refined products, primarily in the Midwest and Gulf Coast regions, to its refineries, its terminals and other pipeline systems. As of December 31, 2012, Pipe Line Holdings, through MPL and ORPL, owned or leased and operated 1,004 miles of common carrier crude oil lines and 1,902 miles of common carrier products lines comprising 30 systems located in nine states and four tank farms in Illinois and Indiana with available storage capacity of 3.29 million barrels that is committed to MPC.
The common carrier refined product pipelines include the owned and operated Cardinal Products Pipeline and the Wabash Pipeline. The Cardinal Products Pipeline delivers refined products from Kenova, West Virginia, to Columbus, Ohio. Other refined product pipelines owned and operated by MPL extend from: Robinson, Illinois to Louisville, Kentucky; Robinson, Illinois to Lima, Ohio; Wood River, Illinois to Indianapolis, Indiana; Garyville, Louisiana to Zachary, Louisiana, and Texas City, Texas to Pasadena, Texas.
The Company holds a 50% interest in Centennial, which owns a refined products pipeline system connecting the Gulf Coast region with the Midwest market. The Company holds a 17% interest in Explorer, a refined products pipeline system extending from the Gulf Coast to the Midwest. It holds a 51% interest in LOOP, the owner and operator of the Louisiana Offshore Oil Port, which is a deepwater oil port capable of receiving crude oil from large crude carriers, located 18 miles off the coast of Louisiana, and a crude oil pipeline connecting the port facility to storage caverns and tanks at Clovelly, Louisiana. The Company holds a 60% interest in Muskegon, which owns a refined products pipeline extending from Griffith, Indiana to North Muskegon, Michigan. It holds a 6% interest in Wolverine, a refined products pipeline system extending from Chicago, Illinois to Toledo, Ohio.
Company Address
Marathon Petroleum Corp
539 South Main Street
FINDLAY OH 45840
P: +1419.4222121
F: +1302.6555049
Company Web Links
| Name | Compensation |
|---|---|
Thomas Usher |
-- |
Gary Heminger |
20,398,200 |
Donald Templin |
3,428,540 |
Anthony Kenney |
4,399,760 |
Garry Peiffer |
6,829,040 |

