Marathon Petroleum Corporation

Marathon Petroleum, On November 9, 2009, Marathon Petroleum Corporation became a subsidiary of Marathon Oil. The predecessor company of Marathon Petroleum Corporation was formed by merging the refining operations of Marathon Oil and Ashland Inc. in 1998. After the merger, it renamed Marathon Petroleum Comapny LLC, and in 2005, it became a 100% owned subsidiary of Marathon Oil. in 2006, it started using STP-branded additives in its gasoline. The company expanded its refinery in Garyville, Louisiana, completing a $3.9 billion expansion in 2009. The company’s $3.9 billion growth increased the plant’s capacity by 180,000 barrels per day. In 2010, it sold a refinery of 74000 barrels per day capacity in St. Paul Park, Minnesota, terminals, pipelines, inventory, and 166 SuperAmerica convenience stores to Northern Tier Energy for $900 million. In June 2011, Marathon Oil distributed all of its shares to its shareholders via a corporate spin-off. In 2012, West Virginia-based Tri-state Petroleum signed a contract to switch 50 stations in Ohio, West Virginia, and Pennsylvania to the Marathon brand.

In 2013, Marathonpuirchased a 451,000 barrel per day capacity refinery in Texas City, Texas, four-light product distribution terminals, & retail marketing contracts for 1,200 retail stations throughout the Southeastern United States. In 2014, Speedway LLC, a subsidiary of the company, acquired the retail operations of Hess Corporation for $2.82 billion. The acquisition also introduced the Marathon brand name at stations for the first time in the Northeastern United States, east of the Appalachian Mountains and north of Pennsylvania. In 2016, a fire incident happened at the Galveston Bay refinery in Texas City, Texas, causing injuries to three contract workers and resulting in a lawsuit seeking $1 million in damages.

On April 30, 2018, Marathon bought Endeavor, which was an independent refinery, & oil company based in the Western United States, for $23 billion. Marathon will acquire all outstanding shares on October 1, 2018; the merger was completed. This merger brings the super America convenience stores back to speedway. Further, Marathon announced plans to retire from his role as chairman and CEO of Marathon.