Marathon Petroleum Corp - Company Profile
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Business Description
Marathon Petroleum Corp (MPC) is a downstream energy company that carries out refining, marketing, and transportation of petroleum products in the Midwest, Southeast, Northeast and Gulf Coast regions of the US. It also operates midstream assets through MPLX LP (MPLX). MPC operates through two reportable business segments, Refining and Marketing, and Midstream.
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Business Segments
Overview
Includes the operations of MPLX LP Transports, stores, distributes and markets crude oil and other feedstock to the company’s refineries and other locations Delivers refined products to wholesale and retail market areas; gathers, processes and transports natural gas, and transports, fractionates, stores and markets natural gas liquids (NGLs) Operates a fleet of rail, truck loading racks and docks In FY2022, the segment’s capital expenditure stood at US$1,069 million, which increased 46.2% YoY.
Performance
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Overview
Refines crude oil and other feedstock, and purchases ethanol and refined products for resale. Major products include gasoline, distillates, lubricants, asphalt, heavy oils, petrochemicals, petroleum coke, propane, and specialty products. Operates refineries, petrochemical facilities, tank farms, pipelines and distribution terminals. Refineries include Garyville, Louisiana; Catlettsburg, Kentucky; Robinson, Illinois; Detroit, Michigan; Canton, Ohio; and Galveston Bay refinery, Texas. Serves Marathon-branded jobbers, Speedway convenience stores, independent retailers, wholesale customers, airlines, transportation companies and utilities. Owns a biofuel production facility in Cincinnati, Ohio, which produces biodiesel, glycerin and other by-products. Owns interests in Albion, Michigan; Clymers, Indiana; and Greenville ethanol production facilities. Sources crude oil from the US, Canada, several countries in the Middle East, and other regions through negotiated term contracts and spot market. In FY2022, the segment’s capital expenditure stood at US$1,508 million, which increased 65.5% YoY.
Performance
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