Marathon Petroleum Corp MPC

Marathon Petroleum Corporation, incorporated on November 9, 2009, is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company's segments include Refining & Marketing, Speedway, and Midstream.

Refining & Marketing

Refining & Marketing segment refines crude oil and other feedstocks at the Company's seven refineries in the Gulf Coast and Midwest regions of the United States, purchases refined products and ethanol for resale and distributes refined products through various means, including terminals and trucks that the Company own or operate. The Company sells refined products to wholesale marketing customers domestically and internationally, buyers on the spot market, its Speedway business segment and to independent entrepreneurs operating Marathon retail outlets.

As of December 31, 2016, the Company owns and operates seven refineries in the Gulf Coast and Midwest regions of the United States with an aggregate crude oil refining capacity of 1,817 thousand barrels per calendar day (mbpcd). Its refineries include crude oil atmospheric and vacuum distillation, fluid catalytic cracking, hydrocracking, catalytic reforming, coking, desulfurization and sulfur recovery units. The refineries process a range of condensate, light and heavy crude oils purchased from various domestic and foreign suppliers. The Company produces various refined products, ranging from transportation fuels, such as reformulated gasoline, blend-grade gasoline intended for blending with ethanol and Ultra-low sulfur diesel (ULSD) fuel, to heavy fuel oil and asphalt. Additionally, the Company manufactures aromatics, propane, propylene and sulfur. The Company's refineries are integrated with each other via pipelines, terminals and barges.

The Garyville, Louisiana refinery is located along the Mississippi River in southeastern Louisiana between New Orleans, Louisiana and Baton Rouge, Louisiana. The Garyville refinery is configured to process a range of crude oils into gasoline, distillates, fuel-grade coke, asphalt, propane, polymer-grade propylene, heavy fuel oil, dry gas, slurry and sulfur. The Galveston Bay refinery, is located on the Texas Gulf Coast approximately 30 miles southeast of Houston, Texas. The refinery can process a range of crude oils into gasoline, distillates, aromatics, heavy fuel oil, refinery-grade propylene, fuel-grade coke, dry gas and sulfur. The Company's Catlettsburg, Kentucky refinery, is located in northeastern Kentucky on the western bank of the Big Sandy River, near the confluence with the Ohio River. The Catlettsburg refinery processes sweet and sour crude oils into gasoline, distillates, asphalt, aromatics, refinery-grade propylene and propane.

The Robinson, Illinois refinery is located in southeastern Illinois. The Robinson refinery processes sweet and sour crude oils into gasoline, distillates, propane, anode-grade coke, aromatics, fuel-grade coke and slurry. The Company's Detroit, Michigan refinery is located in southwest Detroit. The Detroit refinery processes sweet and heavy sour crude oils into gasoline, distillates, asphalt, fuel-grade coke, chemical-grade propylene, propane, slurry and sulfur. The Company's Canton, Ohio refinery is located approximately 60 miles south of Cleveland, Ohio. It processes sweet and sour crude oils, including production from the nearby Utica Shale, into gasoline, distillates, asphalt, roofing flux, propane, refinery-grade propylene and slurry. The Texas City, Texas refinery is located on the Texas Gulf Coast, approximately 30 miles southeast of Houston, Texas. The refinery processes light sweet crude oils into gasoline, chemical-grade propylene, propane, aromatics, dry gas and slurry.

The Company owns a biofuel production facility in Cincinnati, Ohio that produces biodiesel, glycerin and other by-products. It also holds interests in ethanol production facilities in Albion, Michigan; Clymers, Indiana and Greenville, Ohio. The Company also sells gasoline, gasoline blendstocks and distillates to wholesale customers, Marathon-branded independent entrepreneurs and its Speedway convenience stores and on the spot market. The Company also produces propane at most of its refineries. Propane is primarily used for home heating and cooking, as a feedstock within the petrochemical industry, for grain drying and as a fuel for trucks and other vehicles. It also produces feedstocks and petrochemicals, including platformate, alkylate, FCC unit gas, naptha, dry gas, propylene, raffinate, butane, benzene, xylene, molten sulfur, cumene and toluene. The Company also produces and markets heavy residual fuel oil or related components, including slurry and also has refinery-based asphalt production capacity of up to 102 mbpcd, which includes asphalt cements, polymer-modified asphalt, emulsified asphalt, industrial asphalts and roofing flux. It serves various customers, including asphalt-paving contractors, government entities (states, counties, cities and townships) and asphalt roofing shingle manufacturers.

Speedway

Speedway segment sells gasoline, diesel and merchandise through convenience stores that it owns and operates under the Speedway brand. Speedway convenience stores offer a range of merchandise, including prepared foods, beverages and non-food items.

Midstream

Midstream segment includes the operations of MPLX and certain other related operations. The Midstream segment gathers, processes and transports natural gas; gathers, transports, fractionates, stores and markets Natural gas liquids (NGLs), and transports and stores crude oil and refined products. MPLX is a limited partnership which owns, operates, develops and acquires midstream energy infrastructure assets. As of December 31, 2016, MPLX's marine transportation operations included 18 owned towboats, as well as 204 owned and 18 leased barges that transport refined products and crude oil on the Ohio, Mississippi and Illinois rivers and their tributaries and inter-coastal waterways.