Marathon Petroleum Corporation
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- Marathon Petroleum Corporation operates as a leading integrated downstream energy company, focusing on petroleum refining, marketing, transportation, and renewable fuels production. Headquartered in Findlay, Ohio, the company traces its origins to 1887 through predecessor entities and became an independent entity via spin-off from Marathon Oil in 2011. It maintains the nation's largest refining system with 13 refineries boasting approximately 3 million barrels per calendar day of crude oil throughput capacity across locations including Garyville, Louisiana; Galveston Bay, Texas; and Los Angeles, California; alongside 9 renewable fuels and feed facilities producing 485 million gallons annually, 2 renewable fuel pretreatment facilities, and a soy processing facility. Marathon Petroleum markets branded fuels through Marathon and ARCO retail outlets nationwide; offers refined products such as gasoline, diesel, liquefied petroleum gases, residual fuel oil, and lubricants; and provides midstream services via its controlling interest in MPLX LP, encompassing gathering, processing, fractionation, pipelines spanning 8,400 miles for petroleum and 5,000 miles for natural gas and NGLs, plus logistics assets like railcars and barges. Operations serve wholesale, retail, and industrial customers primarily in the United States, with a strategic shift toward renewables including conversions of the Martinez, California, refinery to renewable diesel capacity of 730 million gallons per year in 2023 and the Dickinson, North Dakota, facility to biodiesel in 2021. Recent developments encompass the sale of its ethanol joint venture stake in The Andersons Marathon Holdings LLC to Andersons, Inc., for $425-427 million in third-quarter 2025, enabling focus on higher-growth renewables; establishment of a dedicated Renewable Diesel segment with a 2025 capital outlook of $1.25 billion; ongoing midstream expansions in Permian-to-Gulf Coast pipelines and processing capacity; and prior renewable partnerships such as the Neste joint venture for Martinez conversion and ADM's Green Bison soy processing for feedstock supply.
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