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About Marathon Petroleum
Industries
Energy
Company Size
10,001+
Company Stage
IPO
Total Funding
N/A
Headquarters
Findlay, Ohio
Founded
1887
Overview
Marathon Petroleum Corporation operates in the energy sector, focusing on refining and marketing petroleum products. They process crude oil into usable fuels like gasoline, diesel, and jet fuel at the largest refining system in the United States, located in Findlay, Ohio. Their extensive network includes branded retail locations across the country, allowing them to serve individual consumers and businesses needing bulk fuel supplies. Additionally, they own MPLX LP, which handles the gathering, processing, and transportation of crude oil and natural gas, essential for their operations. Marathon Petroleum's integrated business model allows them to control multiple stages of the supply chain, optimizing operations and reducing costs. Their goal is to maintain competitiveness and profitability through strategic growth and operational excellence.
Simplify's Take
What believers are saying
- MPLX's Gulf Coast NGL strategy expansion boosts midstream capabilities and revenue potential.
- MPC's recognition for diversity enhances its reputation and employee satisfaction.
- Significant capital returns to shareholders indicate strong financial health.
What critics are saying
- Increased competition in natural gas detection may lead to market saturation.
- Departure of former general counsel could affect legal strategies and governance.
- Shift towards cleaner energy sources may impact demand for petroleum products.
What makes Marathon Petroleum unique
- MPC operates the largest refining system in the United States.
- The company has an integrated business model from refining to retail.
- MPC's midstream operations are strengthened by its subsidiary, MPLX LP.
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Funding
Total Funding
$0
Below
Industry Average
Funded Over
1 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Paid Vacation
401(k) Company Match
Parental Leave
Professional Development Budget
Performance Bonus
Company News
FINDLAY, Ohio, Feb. 4, 2025 /PRNewswire/ -- Progresses Gulf Coast NGL strategy with announcement of fractionation complex and export terminal. Full-year 2024 net income attributable to MPLX of $4.3 billion and adjusted EBITDA of $6.8 billion, up 10% and 8%, respectively, year over year. $3.9 billion of capital returned to unitholders in 2024, reflecting 12.5% quarterly distribution increase and $326 million of unit repurchases
FINDLAY, Ohio, Feb. 4, 2025 /PRNewswire/ -- Fourth-quarter net income attributable to MPC of $371 million, or $1.15 per diluted share; adjusted net income of $249 million, or $0.77 per adjusted diluted share. Progresses Midstream Gulf Coast NGL strategy with MPLX's announcement of fractionation complex and export terminal. $10.2 billion of capital returned to shareholders through share repurchases and dividends in 2024
FINDLAY, Ohio, Jan. 24, 2025 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) announced today that its annual meeting of shareholders will take place April 30, 2025, at 10 a.m. ET in a virtual-only format via live webcast. Shareholders of record as of March 3, 2025, are entitled to notice of and to vote at the annual meeting. The company's proxy statement will include additional information regarding how shareholders may access and participate in the virtual annual meeting.About Marathon Petroleum CorporationMPC is a leading, integrated, downstream energy company headquartered in Findlay, Ohio
FINDLAY, Ohio, Jan. 24, 2025 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.91 per share on common stock. The dividend is payable March 10, 2025, to shareholders of record as of the close of business Feb. 19, 2025.About Marathon Petroleum CorporationMPC is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system
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About Marathon Petroleum
Industries
Energy
Company Size
10,001+
Company Stage
IPO
Total Funding
N/A
Headquarters
Findlay, Ohio
Founded
1887
Marathon Petroleum is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today