Marathon Petroleum

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. History Marathon Petroleum traces its origin from a number of small oil companies in Ohio that banded together in 1887. These formed The Ohio Oil Company established in Lima, Ohio. It became the largest oil producer in Ohio. By 1889, the company was acquired by the Standard Oil Trust and six years later its headquarters was moved to Findlay. In 1906, it built its first oil pipeline, which connected its facilities in Martinsville, Illinois and Preble, Indiana. After the U.S. Supreme Court ordered its parent company to break up as a result of the Sherman Anti-Trust Act in 1911, it again became independent. Ohio Oil expanded its operations by purchasing oil fields outside of Ohio. The company also started oil refining. In 1924, the company discovered oil in Texas. In the same year, it acquired Lincoln Oil Refining Company. This purchase included a refinery and 17 brand service stations in Indiana. Several years later, Ohio Oil acquired Transcontinental Oil, which – in addition to refineries, storage facilities, and filling stations – the Marathon product name. Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 16 refineries and over 3 million barrels calendar per day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. In the 2020 Forbes Global 2000, Marathon Petroleum was ranked as the 197th-largest public company in the world.