Marathon Petroleum Company

Marathon Petroleum Company (MPC) is a fully owned, American subsidiary of the Marathon Oil Corporation. The subsidiary was formed on September 1, 2005, from the former Marathon Ashland Petroleum, LLC, and is based in Findlay, Ohio. [http://www.mapllc.com/About_Us/Contact_Us/]

History

Marathon Ashland Petroleum, LLC was a US based petroleum corporation, formed in 1998 from a merger of the downstream operations of Ashland, Inc., and Marathon Oil. Its corporate headquarters were in Findlay. Marathon owned 62% percent and Ashland owned 38% of this venture. [http://findarticles.com/p/articles/mi_hb4310/is_199906/ai_n15027028]

On September 1, 2001, Marathon formed Pilot Travel Centers, LLC (PTC) in a joint venture with Pilot Corporation. Each company owns 50% of PTC.

The Speedway SuperAmerica chain of convenience stores was a subsidiary of this now-defunct company. In addition, Marathon Ashland Petroleum owned seven refineries and a number of other pipelines. Following Ashland shareholder and debt-holder approval, the company became fully owned by Marathon Oil on June 30, 2005. [http://www.eia.doe.gov/emeu/finance/mergers/marindex.html] The company was renamed Marathon Petroleum Company on September 1, 2005. [http://www.mapllc.com/content/documents/mpc/about/marathonmarketinghistory.pdf]

External links

* [http://www.marathon.com/Our_Business/Marathon_Ashland_Petroleum_LLC Marathon Oil Business Homepage]
* [http://www.marathonpetroleum.com Marathon Petroleum Company Homepage] ----