Javascript is disabled or is not supported by your browser. Marathon Oil Corporation traces its beginnings to the Ohio Oil Company, founded in 1887 in northwest Ohio, the leading producer of oil at that time. An article dated March 4, 2006, in knoxnews.com about local gas stations switching to Marathon details the appeal of the Marathon brand as an American company. Marathon Petroleum has the nation's largest refining system and also owns one of the largest convenience store chains in the country, Speedway. From 1982 to 2001, Marathon was owned by and became part of U.S. Steel. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Marathon Oil could look to acquire either more acreage or another operator: the company recently picked up 18,000 net acres in the Eagle Ford play and has the dry powder for more such deals. Search Jobs. Marathon Oil is an independent exploration and production (E&P) company based in Houston. As of December 31, 2015, the company had 2.163 billion barrels of oil equivalent (1.323×10 GJ) of estimated proven reserves, of which 44% was in the United States, 32% was in Canada, 12% was in Equatorial Guinea, and 11% was in other countries in Africa, primarily Libya. In addition to supplying natural gas and electricity, Marathon Energy has been delivering liquid fuels including heating oil, gasoline, and diesel to customers for over two decades!. Speedway LLC, a Marathon Petroleum subsidiary, owns and operates retail convenience stores across the United States. The company reported a loss during the first quarter as … Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. Instantly Access Production Data Subscribe now to receive immediate access to Marathon Oil Company oil and gas production between July 1979 and November 2020. Heminger - who was given an exemption from the company’s age-65 mandatory retirement rule in July 2018 - took charge of the fuel maker when Marathon Oil Corp. spun off the business in 2011. Marathon Pipe Line LLC (MPL) is headquartered in Findlay, Ohio, and is a subsidiary of MPLX LP, a diversified, growth-oriented master limited partnership formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. At Marathon Oil, you’ll be empowered to make a difference on the job, in your career, and in your community. As part of its effort Marathon lists 10 reasons to convert on its website. Big Gulp. Past performance is a poor indicator of future performance. Marathon Oil is one of the many oil and gas producers feeling the impact of lower crude prices. In 1930 Ohio Oil bought the Transcontinental Oil Company, which had producing fields in Texas, and it adopted Transcontinental’s Marathon brand name and trademark long-distance Greek runner for its retail products. The information on this site is not intended to be, nor does it constitute, investment advice or recommendations. Marathon Petroleum also has announced the unanimous decision of its board to maintain its current midstream structure, with the company retaining the general partner of MPLX LP, which owns and operates gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. Want to be notified whenever an investor makes a significant change to their holdings of Marathon Oil Corporation? In 1930, Ohio Oil purchased Transcontinental Oil Company, acquiring with it the rights to the Marathon product name. Getty Images Speedway gas station owner Marathon Petroleum has agreed to sell the chain to 7-Eleven’s parent company. Marathon Oil shareholders will receive annual dividends of 60 cents a share, and Marathon Pete shareholders 80 cents a share. The red, white and blue color scheme along with the slogan "Fueling the American Spirit" contribute to that reason. Sustainability. Marathon Petroleum said it would buy rival Andeavor for more than $23 billion to form a company that would leapfrog Valero Energy as the largest U.S. refiner by capacity. Other reasons include the value from Marathon's website, its advertising, the recognized brand name and company credit card. Is Marathon owned by Exxon? Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. 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