Marathon Petroleum Corp

Marathon Petroleum Corporation (NYSE: MPC) is a leading integrated downstream and midstream energy company with nearly 140 years of history in the energy business. The company operates one of the nation's largest refining systems with approximately 3.0 million barrels per day of crude oil refining capacity across twelve refineries strategically located in the Gulf Coast, Mid-Continent, and West Coast regions of the United States. Marathon Petroleum believes it is among the largest wholesale suppliers of gasoline and distillates to resellers in the United States and maintains one of the largest terminal operations and private domestic fleets of inland petroleum product barges.

The company's operations are organized into three reportable segments: Refining & Marketing, Midstream, and Renewable Diesel. The Refining & Marketing segment refines crude oil and other feedstocks, purchases refined products and ethanol for resale, and distributes products through transportation and storage services. The company sells refined products to wholesale marketing customers, spot market buyers, independent entrepreneurs operating Marathon-branded outlets, and direct dealers primarily operating under the ARCO brand, with 7,882 brand jobber outlets across 40 states and Mexico as of year-end 2025. The Midstream segment, primarily reflecting operations of MPLX LP, a master limited partnership in which Marathon owns approximately 64 percent of outstanding common units, gathers, transports, stores and distributes crude oil, refined products, natural gas, and natural gas liquids through an integrated network of pipelines, terminals, and marine assets. The Renewable Diesel segment processes renewable feedstocks into renewable diesel through wholly owned facilities and joint ventures, including a 50/50 partnership with Neste Corporation at the Martinez facility.

Marathon Petroleum was incorporated in Delaware in 2009 in connection with an internal restructuring of Marathon Oil Corporation and was spun off as an independent publicly traded company in 2011. The company significantly expanded its scale and geographic diversification through the 2018 acquisition of Andeavor and subsequently divested its retail convenience store business, Speedway, to 7-Eleven in 2021. The company's integrated asset network links producers from major U.S. supply basins to domestic and international markets, positioning it as one of the largest producers and marketers of renewable diesel in the United States.