FINDLAY, Ohio — Marathon Petroleum Corp. has appointed Michael Hennigan as president and CEO, effective immediately. 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 brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. This merger brings the SuperAmerica convenience stores back to Speedway. 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. [20] On October 31, 2019, Marathon announced plans to spin off their Speedway convenience stores. This page was last edited on 17 December 2020, at 06:43. The company operates the nation's largest refining system. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. FINDLAY, Ohio, Jan. 13, 2021 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced that Maryann T. Mannen will join the … Is Marathon gas owned by BP? [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. Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the … What company owns Marathon Oil? Marathon Petroleum owns the general partner and a majority limited partner interest in MPLX. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. Investor Relations Contact: (419) 421-2071Kristina Kazarian, Vice President, Investor Relations, Media Contact:Jamal Kheiry, Manager, Corporate Communications (419) 421-3312. Marathon Petroleum to spin off Speedway stations and find a new CEO . 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. "Having spent nearly a decade as CFO in the energy services and manufacturing sectors, Maryann … The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Prior to joining FMC Technologies in 1986, Ms. Mannen was Finance Manager for Sheller-Globe Corporation. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Ohio-based Marathon Petroleum Corp. owns the Speedway gas station chain. Is Marathon gas owned by BP? In 2011, Marathon Oil announced the spin-off of its downstream refining and marketing assets to a separate company called Marathon Petroleum Corporation. FINDLAY, Ohio — After a 10-month strategic review process, Marathon Petroleum Corp. (MPC) is spinning off Speedway LLC. Mannen will succeed retiring CFO Donald C. Templin. 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. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. In 1930, The Ohio Oil Company bought the Transcontinental Oil Company and established the "Marathon" brand name. Type Public . Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 4th quarter, HoldingsChannel.com reports. CX Institutional reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 53.7% in the fourth quarter, Holdings Channel reports. Industry. Speedway, a wholly owned subsidiary of Marathon Oil Corporation, operates approximately 1,350 convenience stores. Marathon -brand gasoline is sold through more than 5,000 independently owned retail outlets across 18 states. France raises food sovereignty concern about Couche-Tard's $20 billion offer .. MPLX's Proposed Sale of Javelina Fractionation Plant Marks 'Solid First Step'.. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (MPC). Stay up to date with Marathon Petroleum stock news. "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. (Exxon would offset its Pittsburgh losses by taking over the retail contracts of several Shell stations in the area, leaving Shell with a significantly reduced presence, while the Mobil brand was withdrawn from the Northern Panhandle of West Virginia altogether.) 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. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $1,012,000 as of its most recent […] Marathon Petroleum General Information Description. Its Speedway subsidiary owns and operates about 4,000 c-stores nationwide. [10], In 2006, Marathon began using STP-branded additives in its gasoline. Marathon Petroleum (NYSE: MPC), a refiner and operator of the Marathon and Arco brand gas stations, said Mannen has nearly a decade of experience … Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. Add alert for MPC Ticker: MPC; CUSIP Number: … 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. For consumers, the stations represent Speedway gas. The fund owned 37,351 shares of the oil and gas company’s stock after acquiring an additional 3,753 shares during the quarter. In 2008 Marathon Petroleum Company, LLC sold their ownership of the company to Pilot. The company operates the nation's largest refining system. 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. Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. 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. 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%. 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