Marathon Petroleum Company
From Wikipedia, the free encyclopedia
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.
[edit] 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.
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. The company was renamed Marathon Petroleum Company on September 1, 2005.
