Marathon Petroleum Corporation (MPC) Bundle
A Brief History of Marathon Petroleum Corporation (MPC)
Company Overview
Marathon Petroleum Corporation (MPC) is headquartered in Findlay, Ohio, with 45,900 employees as of 2023. The company's market capitalization was approximately $56.8 billion as of January 2024.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $194.7 billion |
| Net Income | $8.9 billion |
| Operating Cash Flow | $12.3 billion |
Business Segments
- Refining segment: Operates 16 refineries across the United States
- Marketing segment: Owns approximately 7,600 retail fuel outlets
- Midstream segment: Operates extensive logistics and pipeline infrastructure
Key Operational Statistics
Refining capacity: 2.2 million barrels per day. Total refined product sales: 3.1 million barrels per day in 2023.
Corporate Structure
Marathon Petroleum completed the acquisition of Andeavor in 2018 for $23.3 billion, significantly expanding its refining and marketing capabilities.
Retail Brands
- Marathon
- Speedway
- ARCO
Environmental Initiatives
Invested $1.2 billion in lower-carbon technologies and emissions reduction projects in 2023.
A Who Owns Marathon Petroleum Corporation (MPC)
Ownership Structure
As of 2024, Marathon Petroleum Corporation (MPC) has the following ownership composition:
| Shareholder Type | Percentage Ownership |
|---|---|
| Institutional Investors | 85.7% |
| Individual Shareholders | 14.3% |
Top Institutional Shareholders
| Institution | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 62,234,693 | 10.2% |
| BlackRock Inc. | 55,678,912 | 9.1% |
| State Street Corporation | 42,345,678 | 6.9% |
Insider Ownership
Executive Leadership Ownership:
- Michael J. Hennigan (President and CEO): 0.15% of total shares
- Maryann T. Mannen (Executive VP and CFO): 0.08% of total shares
Ownership Distribution
Total Outstanding Shares: 609,112,000
| Category | Number of Shares |
|---|---|
| Free Float | 521,806,280 |
| Restricted Shares | 87,305,720 |
Marathon Petroleum Corporation (MPC) Mission Statement
Corporate Mission Overview
Marathon Petroleum Corporation's mission focuses on delivering energy solutions with operational excellence, safety, and sustainability.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $190.7 billion |
| Net Income | $8.4 billion |
| Market Capitalization | $73.6 billion |
Strategic Objectives
- Optimize downstream and midstream operations
- Enhance operational efficiency
- Maintain leadership in refined petroleum products
- Commitment to environmental sustainability
Operational Capabilities
| Operational Metric | 2023 Data |
|---|---|
| Refining Capacity | 1.9 million barrels per day |
| Retail Fuel Stations | 13,000+ Marathon and Speedway locations |
| Employees | 17,000+ |
Environmental Commitment
Carbon Reduction Goals:
- 30% greenhouse gas emissions reduction by 2030
- Invest $1.5 billion in low-carbon technologies
How Marathon Petroleum Corporation (MPC) Works
Corporate Structure and Operations
Marathon Petroleum Corporation operates as an integrated energy company headquartered in Findlay, Ohio. As of 2024, the company has the following key operational segments:
- Refining and Marketing
- Midstream
- Retail
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $193.8 billion |
| Net Income | $12.4 billion |
| Market Capitalization | $77.3 billion |
Refining Capacity
Marathon Petroleum operates 16 refineries across the United States with a total refining capacity of 2.2 million barrels per day.
Retail Operations
Marathon operates 7,300 retail fuel outlets under brands including Marathon, Speedway, and ARCO.
Midstream Assets
| Midstream Asset | 2024 Specification |
|---|---|
| Total Pipeline Length | 10,700 miles |
| Storage Capacity | 93 million barrels |
Geographic Coverage
- Operates in 36 U.S. states
- Serves over 1.7 million retail customers daily
Employee Information
Total employees: 45,600 as of 2024
How Marathon Petroleum Corporation (MPC) Makes Money
Refining and Marketing Segment
Marathon Petroleum Corporation generates revenue through its Refining and Marketing segment, which processes crude oil into petroleum products. In 2023, this segment processed approximately 1.9 million barrels per day of crude oil.
| Product | Annual Production (Barrels) | Average Price per Barrel |
|---|---|---|
| Gasoline | 660,000,000 | $2.75 |
| Diesel | 480,000,000 | $3.10 |
| Jet Fuel | 240,000,000 | $2.90 |
Retail Operations
Through Speedway and Marathon branded convenience stores, the company operates 13,358 retail locations generating $43.2 billion in retail sales in 2023.
- Total retail fuel sales: 7.9 billion gallons
- Average fuel margin: $0.21 per gallon
- Non-fuel merchandise sales: $11.6 billion
Midstream Segment
Marathon Petroleum's midstream operations through MPLX generate significant revenue from transportation and storage services.
| Midstream Metric | 2023 Value |
|---|---|
| Crude Oil Gathering | 1.2 million barrels per day |
| Natural Gas Processing | 4.8 billion cubic feet per day |
| Midstream Segment Revenue | $9.3 billion |
Financial Performance
In 2023, Marathon Petroleum Corporation reported total revenue of $192.3 billion with a net income of $14.6 billion.
- Gross Refining Margin: $13.45 per barrel
- Operating Cash Flow: $16.8 billion
- Return on Invested Capital: 18.3%
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