Marathon Oil

Marathon Oil Corporation is an international independent energy company engaged in exploration and production. United States-based oil and natural gas exploration and production company. 

Principal exploration activities are in the United States, Norway, Equatorial Guinea, Poland, Angola and Iraqi Kurdistan. Principal production activities are in the United States, the United Kingdom, Norway, and Equatorial Guinea. Within the United States, Marathon Oil has recently focused development efforts on liquids-rich shale plays, including the Bakken and Eagle Ford formations. 

Marathon Oil owns interests in developing Athabasca oil sands (Canada) resources and in Waha Oil Company (Libya). Marathon's headquarters facility is the Marathon Oil Tower in Houston, Texas.

1887: To excavate the oil, the Ohio Oil Company was formed. The company was founded and is headquartered in Houston, TX.“ Marathon Oil began as “The Ohio Oil Company”.

1889: It was purchased by John D. Rockefeller's Standard Oil.

1905: Moved its headquarters to Findlay.

1906: Ohio Oil’s first pipeline was constructed, running from Martinsville, Illinois, to Preble, Indiana.

1911: Following the dissolution of the Standard Oil Company, the Ohio Oil Company had to seek new markets for the oil that it drilled.

1915: Ohio Oil created Illinois Pipe Line Company and immediately spun the company off.

1924: Lincoln Oil Refining Company was purchased, which included the Robinson refinery in Illinois and 17 Linco brand service stations in Robinson and Terre Haute, Indiana.

1930: The Ohio Oil Company also purchased the Transcontinental Oil Company and its Yates Oil Field in Texas. As well, the Company bought the Transcontinental Oil Company and established the "Marathon" brand name.

1953: The Ohio Oil Company was the first to introduce the metal credit plate, the precursor to the credit card, to build loyalty.

1959: The Aurora Gasoline Company was purchased.

1960: Marathon Pipe Line Company was created as a subsidiary.

1962: Ohio Oil finally adopted the name “Marathon Oil Company”. The company officially changed its corporate name to Marathon Oil Company in conjunction with the company’s 75th anniversary. 

1976: Emro Marketing was incorporated by Marathon Oil to oversee company-operated service stations.

1977: Marathon acquired the Garyville refinery in Louisiana.

1981: The United States Steel Company purchased Marathon Oil.

1982: Mobil made a hostile takeover offer to buy the company; however, the board of Marathon Oil rejected the offer and instead sold the company to United States Steel.

1984: Marathon purchased the United States unit of Husky Energy for $505 million.

1991: Emro moved into new corporate headquarters in Enon, Ohio.

1997: Emro was first recognized as Convenience Store Chain of the Year.

1998: Marathon purchased Ashland Oil, creating Marathon Ashland Petroleum LLC. Marathon increased its scope and market share by combining some of its operations with Ashland Inc.

2001: United States Steel was separated from USX, and the following year USX was renamed Marathon Oil Corporation.

2003: Marathon sold off its Canadian operations to Calgary-based Husky Energy. Marathon Oil and partners (Noble Energy, AMPCO) started the Bioko Island Malaria Control Project (BIMCP) in Equatorial Guinea.

2004: Ashland Inc. transferred its interest in Marathon Ashland Petroleum to Marathon Oil.

2007: Marathon acquired Western Oil Sands for $6.6 billion and gained ownership of its 20% stake in the Athabasca oil sands in northern Alberta and other assets in the midwestern United States.

2009: A $3.2 billion major expansion project at the Garyville refinery was completed.

2010: The St Paul Park refinery and Speedway SuperAmerica assets in Minnesota were sold.

2011: On July 1, Marathon Petroleum Corporation (MPC) became a stand-alone refining, marketing and transportation company, headquartered in Findlay, Ohio.

2012: MPC completed the Detroit Heavy Oil Upgrade Project at the Detroit refinery.

2013: MPC purchased the Galveston Bay refinery in Texas City, Texas.

2014:  In October, the company sold its business in Norway to Det Norske Oljeselskap ASA for $2.1 billion USD. As well, MPC purchased the Cincinnati biodiesel facility.

2015: MPLX acquired MarkWest Energy Partners L.P., further growing MPLX’s midstream business.

2016: MPLX completed the construction of the Cornerstone Pipeline in Ohio.

2017: It sold its interests in the Athabasca oil sands for $2.5 billion and acquired assets in the Permian Basin for $1.2 billion.

2018: In March, it sold its assets in Libya for $450 million to Total SE. Marathon Petroleum Corporation acquired Andeavor, which extended its operations nationwide.

2019: 2019 MPLX LP acquired Andeavor Logistics LP, creating a leading, large-scale, diversified midstream company.

“We will provide innovative commercial expertise and strategic business solutions that support our business partners and maximize shareholder value.”

“We will be recognized as a trustworthy, high-performing team by our internal business partners; be respected by our suppliers; be admired by our competitors, and be considered the employer of choice by our employees.”