Who Owns ARCO?

What does Marathon Petroleum own?
Marathon Petroleum Corporation owns 13 petroleum refineries across the United States with approximately 3 million barrels per day of capacity, approximately 7,300 Marathon-branded and ARCO-branded retail stations (operated by independent dealers), and a controlling approximately 64% interest in MPLX LP (NYSE: MPLX), a midstream master limited partnership that operates approximately 14,000 miles of pipelines and 150-plus storage terminals. MPC also owns renewable diesel production facilities in Dickinson, North Dakota.

Is Marathon Petroleum the same as Marathon Oil?
No. Marathon Petroleum Corporation (NYSE: MPC) and Marathon Oil Corporation were separate companies following a 2011 spin-off. MPC is the downstream refining and marketing company. Marathon Oil was the upstream exploration and production company. In 2024, Marathon Oil was acquired by ConocoPhillips for approximately $22.5 billion. MPC is not affected by this acquisition and remains an independent company. The two companies share a name due to their common origin but have no shared ownership or governance.

Is Marathon Petroleum publicly traded?
Yes, Marathon Petroleum Corporation is listed on the New York Stock Exchange under the ticker symbol MPC. The company has a single-class share structure with one vote per share. Its largest shareholders are institutional investors including Vanguard, BlackRock, and State Street, none of which have controlling ownership.

Does Marathon Petroleum still own Speedway?
No. MPC sold Speedway to 7-Eleven (owned by Seven and i Holdings) in 2021 for $21 billion in cash. The sale included approximately 3,900 Speedway stores across 36 states. Speedway is now a brand owned by 7-Eleven and is no longer affiliated with Marathon Petroleum. MPC retained its Marathon-branded wholesale marketing network, which operates through independent dealers rather than company-owned stores.

What is MPLX?
MPLX LP (NYSE: MPLX) is a master limited partnership that operates Marathon Petroleum's midstream business. MPLX owns and operates approximately 14,000 miles of crude oil and refined product pipelines, 150-plus storage terminals, natural gas gathering and processing facilities, and marine transportation assets. MPC owns approximately 64% of MPLX's common units and 100% of its general partner interest, giving MPC control of MPLX's operations. MPLX is consolidated into MPC's financial statements but also files its own public reports with the SEC.

What is Marathon Petroleum's revenue?
MPC reported FY2024 revenue of $148.4 billion (calendar year ended December 31, 2024), down from $156.8 billion in FY2023. Net income was $3.6 billion, down from $9.7 billion in FY2023. The decline reflects lower refining margins compared to the record highs of 2022, when net income was $14.8 billion. The company generated $7.8 billion in cash from operations in FY2024 and returned $5.3 billion to shareholders through dividends and share repurchases.