Marathon Petroleum Corp. MPC

What this company does

MPC owns and operates refineries in the Gulf Coast, Mid-Continent and West Coast regions of the United States, with an aggregate crude oil refining capacity of 2,986 mbpcd. Those refineries processed 2,787 mbpd of crude oil and 202 mbpd of other charge and blendstocks during 2025. The refined products they yield range from transportation fuels, such as reformulated gasolines, blend-grade gasolines intended for blending with ethanol and ULSD fuel, to heavy fuel oil and asphalt. As of December 31, 2025, independent entrepreneurs primarily maintained Marathon-branded outlets at 7,882 brand jobber locations in 40 states, the District of Columbia and Mexico, and long-term supply contracts covered 1,162 direct dealer locations primarily in Southern California, largely under the ARCO brand. Operations are divided into three reportable operating segments: Refining & Marketing, Midstream and Renewable Diesel. Midstream gathers, transports, stores and distributes crude oil, refined products and other hydrocarbon-based products via refining logistics assets, pipelines, terminals, towboats and barges, gathers, treats, processes and transports natural gas, and transports, fractionates, stores and markets NGLs, reflecting primarily the results of MPLX. Renewable Diesel comprises a wholly owned facility that processes renewable feedstocks into renewable diesel and joint ventures that produce renewable diesel and renewable feedstocks. The company was incorporated in Delaware on November 9, 2009 in connection with an internal restructuring of Marathon Oil Corporation, and was distributed to Marathon Oil stockholders as an independent, publicly traded company on June 30, 2011.

Written from the business description in MARATHON PETROLEUM CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.